Sensex: Dropped 131.43 points or 0.16%, closing at 82,948.23 after hitting an all-time high of 83,326.38 during the session.
Nifty50: Lost 41 points or 0.16%, settling at 25,377.55 after touching a record high of 25,482.20.
Impact on the stock market
Sectoral performance:
- IT sector: The biggest laggard of the day, with the Nifty IT index slipping 3.05%, driven by Mphasis, TCS, and Persistent Systems.
- Financial sector: Bucked the trend with Nifty Financial Services up 1.40% and Bank Nifty rising 1.06%.
- Banking stocks: Both Nifty Private Bank and PSU Bank indices ended in the green, with gains of up to 0.96%.
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| Sector/Index | Performance |
| IT & BPM sector | -0.76% |
| Healthcare sector | -2.18% |
| Oil & Gas sector | -1.73% |
| Real estate sector | -2.99% |
| PSU Bank in India | -1.02% |
Top gainers today
| Company | Price | Change % |
| Kotak Mahindra Share Price | 1,960.15 | 1.60 |
| Bharti Airtel Share Price | 1,693.05 | 0.97 |
| Britannia Share Price | 4,909.65 | 0.80 |
| TATA Cons. Prod Share Price | 1,027.50 | 0.62 |
| HCL Tech Share Price | 1,733.85 | 0.48 |
Top losers today
| Company | Price | Change % |
| Trent Share Price | 5,196.75 | -4.72 |
| Power Grid Corp Share Price | 268.70 | -3.40 |
| Tata Steel Share Price | 134.04 | -3.09 |
| Titan Company Share Price | 3,327.45 | -2.84 |
| ONGC Share Price | 242.45 | -2.59 |
Market aftermath: Impact on stocks
MTNL Jumps 9% on ₹6,000 Crore 4G Expansion Approval
Shares of Mahanagar Telephone Nigam Limited (MTNL) surged 9% to ₹57.50 after the Union Cabinet approved a ₹6,000 crore package for BSNL and MTNL to accelerate their 4G network expansion.
- The state-run telecom firm has been rallying for the past three sessions, gaining 13% in that time.
- Over the past month, the stock has surged 23%, fueled by optimism around government backing.
- Nearly 1 lakh 4G sites are planned for installation, though an additional ₹6,000 crore may be needed for full rollout.
Despite overall market volatility, MTNL’s bullish run highlights investor enthusiasm around government-backed telecom revival efforts.
Also read: MTNL Stock Soars 19% on Government Bond Guarantee
Shipping Corporation of India Drops 7% on Weak Q3 Earnings
In contrast, Shipping Corporation of India (SCI) saw a sharp decline of 7.3%, plunging to ₹177 after reporting a 44% drop in net profit in Q3.
- Net profit fell from ₹134.4 crore to ₹75.5 crore year-over-year.
- Revenue from operations dipped 2% to ₹1,315.6 crore.
- EBITDA margin shrank from 31.1% to 27.2%, reflecting higher costs and lower profitability.
- Since the beginning of 2025, the stock has fallen 13%.
SCI’s disappointing results highlight ongoing challenges in the shipping industry, weighed down by global trade uncertainties.
Also read: Why Shipping Corporation of India shares surging
Zaggle Hits 10% Lower Circuit as Profit Declines
Shares of Zaggle Prepaid Ocean Services, a fintech and SaaS company backed by Ashish Kacholia, crashed 10% to ₹424.05, hitting the lower circuit after a sequential 3% decline in Q3 profits.
- The stock has been on a losing streak for three sessions, down 14.33% overall.
- Despite the quarter-on-quarter dip, profit after tax (PAT) rose 29.6% YoY to ₹19.7 crore.
- The company remains optimistic, expecting 58-63% topline growth for FY25, with plans for inorganic expansion.
However, investors were unimpressed with the short-term weakness in earnings, leading to heavy selling pressure.
You may also read: Zaggle Prepaid Ocean Services Hits All Time High
Crude oil: Middle East’s share in India’s imports hits 2-year high
Crude oil markets are seeing a shift, with India increasing its crude imports from the Middle East to their highest levels in over two years.
- The Middle East accounted for 53.89% of India’s crude oil imports in January 2025, up from 51% in December 2024.
- This is the highest since October 2022, when the share stood at 53.38%.
- The surge comes as Russian crude supplies dipped, though some shipments still arrived using US-sanctioned tankers.
- Indian refiners have also been diversifying imports, considering supplies from West Africa and North America.
With India’s refining capacity set to expand over the next 7-10 years, the country’s crude oil strategy is evolving to reduce over-reliance on any single region.
Conclusion: A Market in Transition
The Indian stock market saw a mixed session on February 10, 2025. While Sensex and Nifty50 pulled back from record highs, financial stocks held firm. The IT sector weighed on the markets, while MTNL gained on telecom expansion news, SCI slipped on weak earnings, and Zaggle hit the lower circuit on profit declines.
Meanwhile, crude oil dynamics continue to evolve, with India increasing its Middle Eastern oil imports in response to shifting global trade conditions.
As investors eye the US Fed policy decision, market sentiment could see further swings. Will this be just a short-term pause before another rally, or are we in for a more extended correction? Time will tell. Stay tuned for more updates!For more stock market insights, check out the StockGro blog.
