Indian Stocks End Slightly Higher After Long Losing Streak

Indian stocks managed to close marginally up after eight straight losses, with a cautious optimism following bargain hunting. Market sentiment remains uncertain due to various economic pressures and lack of positive domestic triggers.

Date: 17-02-2025

AI Rating: 6

Market Overview
After facing eight days of continuous losses, the Indian stock market saw a slight recovery, closing marginally up. The BSE Sensex rose by 57.65 points or 0.08%, while the Nifty50 gained 30.25 points or 0.13%. Despite the recovery, the market mood remains cautious, with uncertainties surrounding U.S. economic policies and domestic indicators failing to provide strong positive triggers.

Net Income
The report highlighted that Glenmark Pharmaceuticals reported a significant turnaround in net profit, achieving Rs 348 crore for the quarter ended December 31, 2024, in contrast to a net loss of Rs 315 crore in the same quarter the previous year. This strong performance indicates an upward shift which could positively influence investor perception and sentiment towards the pharmaceutical sector.

Major Movements
Bajaj Finserv, IndusInd Bank, and Power Grid Corporation saw increases of approximately 2.3% to 2.85%. However, specific sectors, particularly technology and automobiles, experienced mixed outcomes, with Mahindra & Mahindra (M&M) down 3.75%, despite announcing auto bookings worth Rs 8,472 crore. Conversely, Pharma shares displayed strength, evidenced by Glenmark's gain and overall good session.

Trade Deficit and Economic Indicators
India’s merchandise trade deficit of $22.99 billion in January aligns closely with expectations, reflecting ongoing economic conditions. Although exports were slightly down compared to December, the figures are within expected margins, suggesting potential stability in trade patterns.

Overall, while there were pockets of positivity, particularly in pharmaceuticals with earnings turnaround, several companies and sectors faced challenges which indicate a mixed outlook for investors considering market volatility and broader economic uncertainties.

Stocks: ADANIPORTS Bajaj Finserv HDFC INFOSYS ICICI LARSEN M&M TATA RELIANCE ZOMATO