Both the Sensex and Nifty50 took a hit, closing in the red.
- BSE Sensex dropped 319.22 points (0.41%) to settle at 77,186.74. It fluctuated between an intraday high of 79,756.09 and a low of 77,260.37.
- NSE Nifty50 fell 121.10 points (0.52%) to close at 23,361.05, after hitting a high of 23,381.60 and a low of 23,222.
The broader market also struggled, with the Nifty Smallcap100 index tumbling 2.13% and the Nifty Midcap 100 index losing 0.93%.
Impact on the stock market
Different sectors reacted differently to the day’s events:
- Worst-hit Sectors:
- Nifty Oil & Gas: Down 2.22%
- Nifty FMCG: Down 1.67%
- Sectors That Held Up:
- Nifty IT, Auto, Pharma, Healthcare, and Consumer Durables posted marginal gains, with the best performer rising by 0.68%.
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Sector/Index | Performance |
IT & BPM sector | 0.68% |
Healthcare sector | 0.19% |
Oil & Gas sector | -2.22% |
Real estate sector | -0.29% |
PSU Bank in India | -1.60% |
Top gainers today
Company | Price | Change % |
Bajaj Finance Share Price | 8,425.80 | +5.32 |
M&M Share Price | 3,173.30 | +3.14 |
Wipro Share Price | 313.60 | +2.89 |
Shriram Finance Share Price | 546.15 | +2.70 |
Bajaj Finserv Share Price | 1,794.85 | +2.33 |
Top losers today
Company | Price | Change % |
Larsen Share Price | 3,289.20 | -4.59 |
ONGC Share Price | 249.00 | -3.32 |
TATA Cons. Prod Share Price | 1,036.30 | -3.14 |
Coal India Share Price | 374.00 | -2.93 |
Bharat Elec Share Price | 274.15 | -2.71 |
Market aftermath: Impact on stocks
Metro Brands Surges Over 7% Post-Budget Boost
One of the standout performers was Metro Brands, which saw its biggest single-day gain in seven months, jumping over 7%. This rally was fueled by the Union Budget’s incentives for the footwear industry and an adjustment in income tax slabs that could boost consumer spending.
Metro Brands was trading at ₹1,325.00, up 7.18%. The budgetary push for the footwear and leather sector, expected to generate employment and drive growth, contributed to this positive sentiment.
Also read: Metro Brands informs about outcome of analyst meet
Bajaj Finance Hits Record High with a 5% Gain
Bajaj Finance saw strong buying interest, surging over 5% to hit a fresh all-time high. The stock has gained 21% so far in 2025, driven by robust December quarter results and speculation around a Reserve Bank of India (RBI) rate cut.
A Moneycontrol poll suggests a 25 basis points (bps) cut in the upcoming Monetary Policy Committee (MPC) meeting, with expectations that India’s benchmark rate could drop by 50-75 bps in 2025. Lower interest rates would provide a boost to consumption, further supporting stocks like Bajaj Finance.
GR Infra Projects falls over 4% after mixed Q3 results.
Despite reporting a 7.8% YoY increase in net profit for Q3 (₹261.7 crore from ₹242.7 crore), GR Infra Projects saw its stock plummet over 4.5%.
The primary cause? A 20.6% decline in revenue, which fell to ₹1,694.5 crore from ₹2,134 crore last year. Additionally, EBITDA dropped 27.1%, impacting investor confidence. By 10:20 AM, GR Infra was trading at ₹1,218, reflecting concerns over its slowing growth momentum.
Crude Oil Prices Rise Amid Tariff Uncertainty
While equities suffered, crude oil prices edged higher as traders anticipated supply disruptions due to Trump’s tariffs on energy imports.
- Brent crude (April futures): Up 0.77% to $76.25
- WTI crude (March futures): Up 1.81% to $73.84
- MCX February crude oil futures: Up 1.53% to ₹6,447
Canada is a major crude oil supplier to the US, accounting for 61% of total US oil imports. With the new 10% duty on Canadian energy imports, analysts expect US refiners to pass on costs to consumers, while Canadian oil producers struggle with limited export alternatives.
Additionally, natural gas futures surged 8.57% on the Multi Commodity Exchange (MCX), reflecting growing volatility in the commodity markets.
Conclusion:
The Indian stock market had a rough start to the week, reflecting global uncertainty. The tariff war triggered risk-off sentiment, dragging down benchmark indices, while Metro Brands emerged as a rare winner, and crypto markets plunged.
Going forward, investors will keep an eye on global trade developments, sector-specific policies, and earnings reports to navigate the volatile environment. With oil prices climbing and macro risks looming, the next few sessions could set the tone for market trends in February.
Will the market recover from today’s slump, or are we in for prolonged volatility? Stay tuned for more updates!
For more stock market insights, check out the StockGro blog.