Sensex Today Ends 122 Points Lower | Nifty Below 23,600 | ITC, M&M Top Losers

Wed, 12 Feb Closing

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After opening the day on negative note, Indian benchmark continued its downtrend as the session progressed, eventually closing more than 100 points lower.

Benchmark Indian equity indices BSE Sensex and NSE Nifty50 ended Wednesday's choppy session in the negative territory.

At the closing bell, the BSE Sensex  closed lower by 122 points (down 0.1%).

Meanwhile, the NSE Nifty closed 26 points lower (down 0.1%).

Tata Steel, Shriram Finance and Bajaj Finserv among the top gainers today.

M&M, ITC and Eicher Motors on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,121, down by 6 points at the time of writing.

The BSE MidCap index and BSE SmallCap index ended 0.5% lower

Sectoral indices were trading mixed with stocks in metal sector and finance sector witnessing buying. Meanwhile the stocks in realty sector and auto sector witnessing selling pressure.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 86.9 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% lower at Rs 85,086 per 10 grams.

Meanwhile, silver prices were trading 0.5% lower at Rs 94,110 per 1 kg.

Speaking of stock markets, research analyst, research analyst Tanushree Banerjee, in her latest video, points out a stark contrast-while luxury cars and high-end real estate remained out of reach for most Indians in 2024, investors had no hesitation in buying stocks at steep P/E multiples and lofty IPO valuations.

The lure of quick gains, even in risky segments, has encouraged speculation. Many new investors, who entered after the 2020 crash, have yet to see a prolonged correction, making even modest stock selection highly rewarding.

However, Banerjee warns that this market euphoria may not last forever. With turbulence ahead, how should investors navigate the coming uncertainty?

Arkade Developers Jumps 5%

In news from the construction sector, Arkade Developers' shares surged over 5% on Wednesday after the company secured a major redevelopment project in Mumbai's Dahisar suburb, with an estimated gross development value (GDV) of Rs 17 billion (bn).

The company has acquired a 6.5-acre land parcel for the cluster redevelopment of Anand Nagar Society in Dahisar East, covering a plot area of 26,286 square metres. This project is expected to make a significant impact on the local real estate landscape.

Commenting on the development, Chairman and Managing Director Amit Jain highlighted the strong momentum in the real estate sector, supported by the 2025 Union Budget's focus on housing and the rental market.

He noted that this favourable environment has enabled the company to acquire five new projects this year, four redevelopment and one outright project, across key locations in the Mumbai Metropolitan Region.

With a strong presence in Mumbai's prime locations, Arkade Developers has built a diverse portfolio of new developments and redevelopment projects.

The company's consistent revenue growth and financial stability further reinforce its market position.

Gensol Engineering Shares Dive 17%

Moving on to news from the engineering sector, Gensol Engineering's shares tumbled over 17% on February 12, hitting a 52-week low of Rs 580.05, as the company's Q3 earnings fell short of investor expectations. The quarterly results reflected a weak bottom line and subdued operational performance, leading to the sharp decline in stock price.

The company reported a 6.1% drop in net profit for Q3, standing at Rs 169 m, compared to Rs 180 m in the same period last year. The decline was driven by weaker operational metrics, as EBITDA margins contracted to 18.1% from 19.6% in the year-ago period.

Despite the earnings miss, Gensol Engineering secured multiple major engineering-procurement-construction (EPC) contracts during the quarter.

Notably, the company bagged a significant project from a leading public sector undertaking for the development of a 275 MW Solar PV Project in Gujarat. The total bid value for this project stands at approximately Rs 10.6 bn and includes three years of operations and maintenance (O&M) services.

Bajaj Healthcare Hits Upper Circuit

Moving on to news from the healthcare sector, Bajaj Healthcare shares surged 10% on 12 February, hitting the upper circuit a day after declining following the release of its Q3FY25 results.

The pharmaceutical company reported a net profit of Rs 117 m in Q3FY25, rebounding from a net loss of Rs 22 million in the same quarter last year. Revenue from operations grew 13.1% year-over-year, reaching Rs 1,228 m compared to Rs 1,086 million in Q3FY24.

The growth was attributed to increased demand for its active pharmaceutical ingredients (APIs) and bulk drugs.

EBITDA for the quarter stood at Rs 217 m, reflecting a 10.7% rise from Rs 196 m in the previous year. However, the EBITDA margin saw a slight dip to 17.7% from 18.1% in Q3FY24.

Looking ahead, the company aims to establish a network of hospitals catering to both affordable and premium healthcare segments. Additionally, Bajaj Healthcare recently secured exclusive rights from Threotech LLC for the manufacturing, distribution, and sale of Magnesium L Threonate (Magtein) in India. It also received approval from the Drug Controller General of India to manufacture a treatment drug for hallucinations and delusions associated with Parkinson's disease.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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