POST-MARKET SUMMARY 12th February 2025
On February 12, Indian equity indices extended their losing streak for the sixth consecutive session, ending marginally lower after failing to sustain a sharp mid-session recovery. Investor sentiment remained cautious amid concerns over the global trade war and upcoming US inflation data. Among sectors, most ended in the red, with the realty index down nearly 3%, while PSU Bank and metal were the only gainers.
Meanwhile, in the primary market, the IPO of Hexaware Technologies Ltd received a muted response on its first day of bidding. Explore exclusive insights into the IPO here: Hexaware Technologies IPO Analysis 2025: Should You Subscribe?
NIFTY: The index opened flat at 23,050 and made a high of 23,144 before closing at 23,045. Nifty has formed a Dragonfly candlestick pattern on the daily chart. Its immediate resistance level is now placed at 23,150 while its immediate support is at 22,950.
BANK NIFTY: The index opened flat at 49,402 and closed at 49,479. Bank Nifty has formed a Dragonfly candlestick pattern on the daily chart. Its immediate resistance level is now placed around 49,700 while immediate support is around 49,250.
Stocks in Spotlight
▪ Arkade Developers: Stock surged over 5% intraday after the company secured a redevelopment project in Mumbai's Dahisar suburb. The project's estimated gross development value of ₹1,700 crore boosted investor sentiment.
▪ Gensol Engineering: Stock plummeted over 17% intraday, hitting a 52-week low, after the company's Q3 earnings disappointed investors.
▪ Ashok Leyland: Stock jumped over 7% after the company reported a 36% rise in profit for the third quarter. Revenue from operations grew over 8% year-on-year, reaching ₹11,995 crore.
Global News
▪ Asia-Pacific markets mostly rose on Wednesday as investors evaluated the impact of U.S. President Donald Trump’s tariffs on regional economies.
▪ Oil prices declined due to rising U.S. crude stockpiles and tariff concerns, despite support from Middle East tensions and sanctions.
▪ Gold prices retreated from record highs after hawkish remarks by Fed Chair Powell, shifting focus to U.S. inflation data and tariff updates.
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