After opening the day flat, the Indian benchmark continued its downtrend as the session progressed, eventually closing more than 300 points lower.Benchmark equity indices, BSE Sensex and NSE Nifty50, ended Wednesday’s choppy session in negative territory.At the closing bell, the BSE Sensex closed lower by 313 points (down 0.4%).Meanwhile, the NSE Nifty closed 43 points lower (up 0.2%).Hindalco, BPCL, and ONGC are among the top gainers today.Nestle, HU,L, and Titan, on the other hand, were among the top losers today.The GIFT Nifty was trading at 23,750, down by 23 points at the time of writing.The BSE MidCap index ended 0.7% higher and the BSE SmallCap index ended 1.4% higher.Sectoral indices were trading mixed on Thursday with stocks in the metal sector and energy sector witnessing buying. Meanwhile, the stocks inthe realty sector and FMCG sector witnessing selling pressure.The rupee is trading at 87.44 against the US$.Gold prices for the latest contract on MCX are trading 1% higher at Rs 84,636 per 10 grams.Meanwhile, silver prices were trading 0.6% higher at Rs 96,317 per 1 kg.
NSE Blames BSE for Dues BreachIn news, the National Stock Exchange (NSE) has stated that the total liquid assets of its clearing arm, NSE Clearing Ltd (NCL), have fallen below the regulatory threshold due to rival exchange BSE’s pending dues of Rs 3.1 bn. This disclosure was made as part of NSE’s Q3 financial results statement.This is significant as clearing corporations play a critical role in clearing and settling transactions while ensuring counterparty guarantees for trades executed on the exchange platform.SEBI mandates a minimum liquidity threshold as a regulatory compliance measure.NSE remains the dominant stock exchange in India, holding a 94% market share in the cash market and nearly a 99.9% share in the equity futures segment. In Q3FY25, NSE commanded an 87.5% share in the equity options segment.Both its cash and equity futures segments saw volume growth exceeding 30%t in Q3FY25, while equity options volumes increased by 10%. The exchange also maintained a 93% market share in currency futures.
Symphony Shares Drop 8%. Here’s WhyMoving on to news from the consumer durables sector, Symphony shares fell 8% on Wednesday following the company’s Q3FY25 earnings report, which revealed a net loss of Rs 100 m for the quarter ended 31 December 2024.This marks an improvement from the Rs 410 m loss recorded in the same period last year.The company also reported a one-time loss of Rs 460 m.Meanwhile, revenue declined by 2% to Rs 2.4 bn in Q3FY25, compared to Rs 2.5 bn in the corresponding quarter of the previous fiscal.
Page Industries Declares Interim DividendPage Industries, the exclusive licensee of Jockey in India, reported a 34.3% YoY rise in net profit for Q3FY25, reaching Rs 2 bn, while revenue grew 7.1% to Rs 13.1 bn. EBITDA increased by 33.6% YoY to Rs 3 bn.The board has announced its third interim dividend for FY25 at Rs 150 per share, with a record date of February 13 and payment scheduled by March 7.In its Q3FY25 presentation, the company acknowledged short-term headwinds in the Indian apparel retail sector due to subdued consumer sentiment. Despite festive demand at the start of the quarter, it was not sustained.However, the company sees athleisure and innerwear as key growth drivers, supported by the expansion of organized retail and e-commerce.During the September quarter earnings call, the management highlighted a renewed focus on international expansion.Force Motors Surges Over 10% on Strong SalesShares of Force Motors jumped over 10% to Rs 7,057 on February 5 after the company reported strong January sales, particularly in the commercial and utility vehicle segments. Despite the surge, the stock remains down over 8% in the past three months, underperforming the Nifty 50’s 1% decline. It had previously touched a 52-week high of Rs 10,272 on 29 April 2024.In January, domestic sales of small commercial vehicles (SCVs), light commercial vehicles (LCVs), utility vehicles (UVs), and sports utility vehicles (SUVs) rose 39.27% YoY to 3,493 units from 2,508 units. Total sales, including exports, grew 20.3% to 3,597 units.However, exports fell sharply by 78.37% to 104 units from 481 units a year ago.Additionally, Force Motors officially exited the tractor business as of March 31, 2024.Boosting sentiment further, the company secured a major order for 2,429 BS-VI diesel ambulances from Uttar Pradesh’s Medical Health and Family Welfare Department.The order, to be delivered between December 2024 and March 2025, strengthens Force Motors’ position in the specialized vehicle market, though the contract value was not disclosed.Sensex Today Trades Flat; Nifty Above 23,750Sensex Today Rallies 1,397 Points; Nifty Above 23,700Sensex Today Trades Higher; Nifty Above 23,500
