Sensex, Nifty trade with modest gains; European mrkt advance

The key domestic indices traded with decent gains in the afternoon trade. The Nifty traded above the 23,150 mark after hitting the day's low of 22,992.20 in early trade. Trading was volatile due to the weekly Nifty 50 F&O series expiry today.

Pharma, Metal, Realty shares advanced while PSU Bank, IT and FMCG shares declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex, gained 356.01 points or 0.47% to 76,523.72. The Nifty 50 index added 112.45 points or 0.49% to 23,157.70.

In the broader market, the S&P BSE Mid-Cap index added 0.74%, and the S&P BSE Small-Cap index rose 0.42%.

The market breadth was positive. On the BSE, 2,283 shares rose and 1,541 shares fell. A total of 145 shares were unchanged.

Gainers & Losers:

Tata Steel (up 3.61%), Sun Pharmaceutical s Industries (up 3.16%), Cipla (up 2.61%), Bajaj Finserv (up 2.58%) and Bajaj Finance (up 2.50%) were the major Nifty gainers.

Adani Enterprises (down 2.27%), Hero Motorcorp (down 0.74%), Infosys (down 0.37%), HDFC Bank (down 0.25%) and Nestle India (down 0.21%) were the major Nifty losers.

Stocks in Spotlight:

Godrej Industries jumped 5.39% after the company's consolidated net profit rose 76.86% to Rs 188.20 crore on 34.39% increase in revenue from operations to Rs 4,824.83 crore in Q3 December 2024 over Q3 December 2023.

Honasa Consumer rallied 9.55% after the company's consolidated net profit increased marginally to Rs 26.02 crore in Q3 FY25, up 0.46% as compared with Rs 25.90 crore in Q3 FY24. Revenue from operations rose 6% to Rs 517.51 crore in Q3 FY25 as compared with Rs 488.21 crore posted in corresponding quarter last year.

SKF India slipped 2.87% after the firm reported a 17.1% decline in consolidated net profit to Rs 109.50 crore in Q3 FY25 as against Rs 132.15 crore posted in Q3 FY24. However, revenue from operations jumped 15% YoY to Rs 1,256.10 crore in the quarter ended 31 December 2024.

Suven Pharmaceuticals rallied 8.20% after the companys consolidated net profit jumped 77.3% to Rs 82.88 crore in Q3 FY25 as compared with Rs 46.75 crore in Q3 FY24. Revenue from operations jumped 39.7% to Rs 307.15 crore in Q3 FY25 as compared with Rs 219.82 crore in Q3 FY24.

P N Gadgil Jewellers surged 10% after the companys consolidated net profit jumped 49.36% to Rs 86.03 crore in Q3 FY25 as compared with Rs 57.60 crore in Q3 FY24 Revenue from operations jumped 23.51% YoY to Rs 2,435.75 crore in Q3 FY25..

Global Markets:

Most European market advanced as The U.K. economy grew by 0.1% in the fourth quarter, ahead of expectations for a 0.1% contraction, according to a preliminary estimate from the U.K.s Office for National Statistics.

Investors are looking for Corporate results include those of Siemens, Nestle, Swisscom, Pernod Ricard, Orange, Unilever, Legrand, Ferrovial, Barclays, British American Tobacco, Commerzbank, Thyssenkrupp and Moncler, while Germanys latest inflation rate is also due.

Asian stocks saw a mixed performance on Thursday. A surge in Chinese tech stocks, driven by enthusiasm for artificial intelligence, and news of potential deals in Japan's technology sector provided positive momentum. However, concerns about high U.S. inflation tempered gains.

Market sentiment was also boosted by reports of potential peace talks between Russia and Ukraine, raising hopes for an end to the protracted conflict. This news contributed to a drop in oil prices.

It was reported that both the Russian and Ukrainian presidents expressed a desire to resolve the conflict in separate phone calls, and that steps were being taken to initiate peace talks. This development followed reports that Ukraine would no longer pursue NATO membership, a key point of contention for Russia.

U.S. stocks fell overnight after stronger-than-anticipated consumer price index (CPI) data was released. The inflation figures lessened expectations of near-term interest rate cuts.

At the NYSE close, the Dow Jones Industrial Average decreased by 0.50%, the S&P 500 index fell by 0.27%, and the NASDAQ Composite index showed a slight gain of 0.03%.

The CPI increased by 0.5% month-over-month, while the core CPI rose by 0.4%. These results fueled concerns about persistent inflationary pressures. Analysts pointed to the "upside surprise" in the CPI report, noting that it contradicted earlier forecasts of moderating inflation.

Overall market sentiment remained cautious due to ongoing trade tensions, including recently implemented tariffs on commodity imports and the potential for retaliatory tariffs.

Individual stock performance saw CVS Health Corp. rallying by nearly 15%, and Gilead Sciences Inc. increasing by 7.5%.

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