Sensex, Nifty decline for 4th day; auto shares tumble

The key domestic indices ended with moderate losses on Friday, declining for the fourth consecutive day, weighed down by concerns over potential U.S. retaliatory tariffs and continued FII selling, which dampened risk sentiment. The Nifty ended a tad below the 22,800 level.

Barring the Nifty Metal index, all the sectoral indices on the NSE were traded in red.

As per provisional closing data, the barometer index, the S&P BSE Sensex, tumbled 424.90 points or 0.56% to 75,311.06. The Nifty 50 index declined 117.25 points or 0.51% to 22,795.90. In the past four trading sessions, the Sensex and Nifty declined by 0.90% and 0.71%, respectively.

In the broader market, the S&P BSE Mid-Cap index declined 1.18% and the S&P BSE Small-Cap index shed 0.43%.

The market breadth was negative. On the BSE, 1,701 shares rose and 2,241 shares fell. A total of 118 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.03% to 14. 53.

Economy:

India's private sector activity witnessed its fastest expansion since August 2024, according to the HSBC Flash India Composite Output Index. The index rose to 60.6 in February, up from 57.7 in January, signaling a significant acceleration in combined manufacturing and services output.

However, while overall private sector activity surged, growth in the manufacturing sector moderated slightly. The HSBC Flash India Manufacturing PMI slipped to 57.1 in February from 57.7 in January. Despite the decline, the manufacturing PMI remained above its long-run average of 54.1.

Stocks in Spotlight:

JTL Industries rose 0.09%. The company was granted permission by the National Company Law Tribunal (NCLT) to commence operations at the RCI Industries & Technologies plant.

Kamat Hotels (India) rose 1.74% after the company signed a management agreement for the operation and management of the Orchid Hotel located in Mandavi, Kutch District, Gujarat.

Dee Development Engineers declined 1.16%. The company has announced that it has received a Letter of Intent (LoI) worth Rs 27 crore for the supply of fittings for a thermal power plant.

Sanofi Consumer Healthcare India declined 2.86%. The company has reported 1% rise in net profit to Rs 46.35 crore on a 6.8% increase in net sales to Rs 170.70 crore in Q3 FY25 as compared with Q3 FY24. Total operating expenditure rose by 13.8% YoY to Rs 111.50 crore in Q3 FY25.

Samvardhana Motherson International (SAMIL) declined 2.43%. The company has incorporated a wholly owned subsidiary (WOS), Motherson Treasury Strategy (MT), within the jurisdiction of the Abu Dhabi Global Market (ADGM) in the United Arab Emirates.

Easy Trip Planners shed 1.13%. The company signed a memorandum of understanding (MoU) with the Korea Tourism Organization (KTO) to promote South Korea as a premier travel destination for Indian tourists.

NTPC Green rose 0.38%. The company signed memorandum of understanding (MoU) with Bharat Light and Power to support the acceleration of green energy objectives and the Government of Indias efforts toward a carbon-neutral economy.

Grindwell Norton slipped 1.54%. The company's board approved the appointment of Venugopal Shanbhag as managing director (MD) for a five-year term, effective from 1 April 2025.

Global Markets:

European markets advanced, while most Asian stocks ended higher on Friday as investors awaited earnings reports. Strong earnings from Alibaba fueled a rally in Hong Kong.

Japanese stocks rose after stronger-than-expected January inflation data. Headline national CPI jumped to a two-year high of 4.0% year-on-year in January, up from 3.6% the previous month, according to government data. Core CPI, excluding fresh food and energy costs, rose slightly to 2.5% year-on-year from 2.4% in the prior month. This data strengthens the case for further interest rate hikes by the Bank of Japan.

Japanese manufacturing activity contracted for the eighth consecutive month in February. The Au Jibun Bank manufacturing purchasing managers' index (PMI) was 48.9 in February, slightly better than January's 48.7. A reading below 50 indicates contraction.

U.S. stocks declined overnight after weak earnings from Walmart, raising concerns about a slowing economy. Wall Street also saw some profit-taking after the S&P 500 reached a series of record highs this week.

The S&P 500 fell 0.4% to 6,117.63, the NASDAQ Composite dropped 0.5% to 19,962.36, and the Dow Jones Industrial Average slid 1% to 44,176.90.

Walmart Inc. stabilized in after-hours trading after falling 6.5% during Thursday's session due to weaker-than-expected earnings for the December quarter. Walmart's losses affected other retail stocks amid concerns that U.S. consumer spendinga key economic driverwas cooling after a strong year.

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