Markets Today: Lupin, Vi, Eicher Q3; FIIs; Gold; Ajax Engineering IPO Day 2

Stock Markets Today, February 11, 2025: Benchmark indices, Nifty50 and Sensex, are likely to react to positive global cues, coupled with Q3 earnings, in Tuesday's session. At 6:31 AM, GIFT Nifty Futures were trading 16 points higher at 23,476, signaling a flat to positive start for Indian bourses.

 

In the previous session, Sensex fell 548.39 points, or 0.70 per cent, to settle at 77,311.80. Nifty50 also ended 178.35 points, or 0.76 per cent lower at 23,381.60. 

 

Also Read: Reserve Bank of India pulls back rupee from the brink of 88 against dollar

 

Global cues

 

Asia-Pacific markets opened higher Tuesday, following Wall Street’s gains as investors appeared to overlook US President Donald Trump’s tariff campaign. On Monday, Trump signed an order imposing 25 per cent tariffs on US imports of steel and aluminum.

 

Last checked, the ASX 200 was trading 0.23 per cent higher. Kospi rose 1 per cent. The Japanese markets were closed due to a holiday.

 

Overnight in the US, the Dow Jones rose 0.38 per cent. The S&P 500 gained 0.67 per cent, and the Nasdaq climbed 0.98 per cent. Additionally, Federal Reserve Chair Jerome Powell is scheduled to speak before Congress later today.

 

Domestic cues

 

Q3 results

 

Vodafone Idea, Lupin, AstraZeneca Pharma, Birlasoft, and Berger Paints among several others will announce their Q3 results today. Investors will also react to earnings from Eicher Motors, Nykaa and Grasim Industries among others.

 

FII, DII

 

FIIs sold shares worth Rs 2,463.72 crore, while DIIs bought shares worth Rs 1,515.52 crore, on February 10.

 

Also Read: Stock market dance to tunes of FPIs; retail investors out of sync

 

IPO market

 

Ajax Engineering IPO (Mainline) and Chandan Healthcare IPO (SME) will enter Day 2 of their subscription, while Eleganz Interiors IPO (SME) will enter Day 3.

 

Solarium Green IPO (SME) and Readymix Construction IPO (SME) will see their allotment.

 

Other triggers

 

Asia Index, a subsidiary of BSE, has launched five new indices, which include BSE 1000, BSE Next 500, BSE 250 Microcap, BSE Next 250 Microcap, and BSE 1000 Multicap (equal size weighted).

 

Also Read: Market regulator Sebi bars Kalahridhaan Trendz from securities market

 

US President Donald Trump announced a 25 per cent tariff on all steel and aluminum imports, a move that could further reduce India’s already minimal shipments of these commodities to the US and expose the country to an influx of surplus supplies.

 

Indian companies, including non-banking financial companies (NBFCs), have filed proposals with the Reserve Bank of India (RBI) in December 2024 to raise $9.54 billion through External Commercial Borrowings (ECBs).

 

As of December 31, FY25, 83.9 million income tax returns (ITRs) were filed, a 4 per cent increase from the previous year. Out of these, 55.7 million returns had zero tax liability, as per Minister of State for Finance Pankaj Chaudhary.

 

Also Read: PE/VC pullback brings dark clouds over Indian climate-tech companies

 

India and European Free Trade Association (EFTA) nations launched a ‘dedicated desk’ on Monday to assist European businesses looking to invest or expand in India, aiming to catalyse a $100 billion foreign direct investment (FDI) commitment under the trade deal.

 

Commodity market

 

Gold prices continued their record rally on Monday, breaking through the key $2,900 level for the first time, fueled by safe-haven demand amid escalating trade war and inflation concerns following US President Trump’s new tariff threats. Spot gold surged 1.5 per cent to $2,903.53 per ounce. US gold futures jumped 1.6 per cent to $2,934.30.

 

Also Read: Gold price hits $2,900 today, up 11% in 2025; will the rally continue?

 

Oil prices ticked higher on Monday, rebounding after declines last week on concerns about a global trade war, as investors seemed to brush off Trump’s latest threat on steel and aluminum imports. Brent crude futures gained 1.62 per cent to settle at $75.87 a barrel, while US WTI crude climbed 1.86 per cent to close at $72.32 a barrel. 

 

Here's how analysts are assessing today's (February 11) trading session:

 

Shrikant Chouhan, head of equity research at Kotak Securities

  We believe that the current market texture is weak, but a fresh sell-off is only possible if the 20-day SMA or 23,300/77000 is dismissed. Below this level, it could retest the range of 23,220-23,175/76700-76500. On the other hand, 23,500/77600 would be the key resistance zone for the bulls. Above this level, the pullback could extend up to 23,560/77800.

 

Rupak De, senior technical analyst at LKP Securities

 

In the short term, the trend may worsen below 23,350, with the potential to fall toward 23,000 if it sustains below this level. On the higher end, resistance is seen at 23,550.