Swiggy Extends Losses, Escorts Kubota Slumps, Small & Midcaps Hit Hard
Written by - Fisdom Research
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February 11, 2025
2 minutes
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Market Snapshot
Sensex and Nifty declined 1.3% on February 11, tracking weakness in global equities as fresh tariff concerns dampened investor sentiment.
Market participants remained cautious, awaiting Federal Reserve Chair Jerome Powell’s testimony and key US inflation data for further cues.
Global markets showed mixed trends, with Europe’s Stoxx 600 holding steady, US equity futures edging lower, and Asian stocks retreating. Gold surged to a fresh record high, reflecting risk aversion amid heightened market uncertainty.
The dollar index extended gains from Monday, following former US President Donald Trump’s directive imposing tariffs on US steel and aluminum imports.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY BANK
-1.2
NIFTY METAL
-1.7
NIFTY PRIVATE BANK
-1.2
NIFTY PHARMA
-1.9
NIFTY FINANCIAL SERVICES
-1.3
NIFTY OIL & GAS
-1.9
NIFTY IT
-1.5
NIFTY FMCG
-1.9
Top News
Swiggy and Zomato extended losses on February 11, with Swiggy’s stock plunging nearly 26% since its Q3 results, as widening losses and weak earnings weighed on sentiment.
Escorts Kubota dropped 5.3% after reporting weaker-than-expected earnings, with the management signaling cautious outlook and potential challenges in passing on BS5 transition costs.
Small and midcap indices tumbled up to 3.5%, as investors offloaded shares amid high valuations, weak earnings, and global trade uncertainty, with stocks like HBL Engineering, Swan Energy, and PB Fintech among the worst performers.
Eight Firms Set to Raise Over Rs 7,800 Crore.
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
22,800
23,300
Bank Nifty
49,000
50,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
ADANIENT
1.3
EICHERMOT
-6.7
GRASIM
0.8
APOLLOHOSP
-6.6
TRENT
0.5
SHRIRAMFIN
-4.5
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