The Economic Times

Indian benchmark indices ended mixed in a range-bound session, with Nifty extending gains for a fourth day while Sensex edged lower. Analysts see bullish momentum above key support levels, eyeing a breakout past 26,000. Global cues were mixed, with US optimism and subdued European trends.

Morgan Stanley and Goldman Sachs acquired shares in Ather Energy through block deals worth Rs 233 crore, as NIIF sold over 33.78 lakh shares. Several mutual funds also bought stakes. The smallcap multibagger stock remains up 123% from its IPO despite recent declines.

U.S. stocks neared a record high Wednesday after a jobs report showed unexpected improvement, adding 130,000 jobs last month. While overall job growth for the past year was revised downward, the figures offered reassurance. Treasury yields climbed as traders adjusted expectations for Federal Reserve interest rate cuts.

Nifty ended flat but extended gains, with technical indicators signaling a bullish bias above key support. Analysts highlight Craftsman Automation and Laurus Labs as buy ideas, citing strong uptrend structure, base formation, improving momentum and potential upside on breakout.

U.S. job growth accelerated in January and the unemployment rate fell to 4.3%, signs of labor market stability that could give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation.

Oil prices gained more than 2% on Wednesday, buoyed by potential supply risks should tensions between the U.S. and Iran escalate, while draws of crude from key stockpiles suggested stronger demand.

Sebi on Wednesday came out with a new infrastructure planning and real-time performance monitoring framework for exchanges and clearing corporations operating in the commodity derivatives segment, mandating that critical IT systems maintain installed capacity of at least two times the projected peak load.

Vivriti Asset Management (VAM), a mid-market private credit-focused Alternative Investment Fund (AIF) management firm, on Wednesday said it aims to grow at 25-30 per cent year-on-year for the next five years, driven by the massive potential in the niche debt market.

Benchmark indices ended largely flat, but select BSE small-cap stocks surged to fresh yearly highs. Mangalore Refinery, Force Motors, ZF Commercial Vehicle Control Systems and Craftsman Automation saw strong momentum.

LG Electronics Q3 Results: Consumer electronics major LG India on Wednesday reported a 61% year-on-year (YoY) decline in its consolidated net profit at Rs 89.7 crore in the third quarter. Revenue from operations too fell 6% YoY to Rs 4114 crore.

State-run Bharat Heavy Electricals Limited (BHEL) on Wednesday informed the exchanges about its intent to exercise the oversubscription option after the offer for sale received strong response from non-retail investors.

Indian markets ended largely flat in a rangebound session. Eicher Motors, Apollo Hospitals, SBI and SJVN rallied on strong earnings, and BHEL declined after a government stake sale announcement.

Vodafone Idea is witnessing steady accumulation by domestic mutual funds and promoter Kumar Mangalam Birla, even as it reports continued losses. Improving revenue, margins and operational metrics signal gradual stabilisation, though profitability and valuations remain key concerns for investors.

BSE Index Services, an arm of the BSE, on Wednesday announced the launch of two new G-Sec indices, which can be used for running passive strategies such as ETFs (exchange traded funds) and Index Funds.

State Bank of India has surpassed TCS to become the fourth-largest listed firm by market capitalisation after a sharp rally driven by strong quarterly earnings. Robust profit growth, stable margins, improving asset quality and bullish brokerage views boosted investor sentiment.

The pickup in issuance suggests companies have stopped waiting for borrowing costs to decline and have accepted that yields are unlikely to soften materially in the near term. They are choosing to access the market despite the high rates, said Venkatakrishnan Srinivasan, founder and managing partner at Rockfort Fincap.

The Indian rupee weakened against the dollar, closing down 0.1% at 90.70 due to increased dollar bids from foreign banks. Despite a quiet trading session and mixed corporate interest, overseas demand for dollars pressured the currency. The rupee lagged behind other Asian currencies, which benefited from a broadly weaker dollar.

U.S. stock futures traded subdued as investors awaited crucial jobs data, with expectations of an uptick in job growth despite a sluggish labor market. Corporate earnings also drew attention, with Cloudflare jumping on a strong forecast. Markets are closely watching for any surprises in labor and inflation data that could influence the Federal Reserve's rate cut decisions.

Lenskart Solutions witnessed a remarkable surge in its net profit, climbing by 6,982% to Rs 131 crore in the December-ended quarter. This substantial growth was accompanied by a 38% increase in revenue from operations, reaching Rs 2,308 crore during the same period.

Benchmark indices Sensex and Nifty ended largely flat on Wednesday, with the 30-share Sensex snapping its three-day gaining streak, while Nifty managed to close marginally higher.

Arvind SmartSpaces Ltd saw its net profit drop by 42 percent in the December quarter. However, sales bookings for the period showed a significant rise. The company also announced leadership changes. Priyansh Kapoor is now MD and CEO. Kamal Singal will transition to a strategy and investments role, mentoring the team.

IndiQube Spaces Ltd. reported a consolidated net loss of Rs 17.06 crore for the December quarter, a rise from Rs 13.72 crore a year prior, driven by increased expenses. Despite this, the co-working firm saw its total income surge to Rs 411.09 crore from Rs 280.48 crore. IndiQube manages over 9.55 million sq ft across 17 cities.

Ashok Leyland reported a 4.5% year-on-year rise in Q3 net profit to Rs 796 crore despite a one-time Rs 308 crore charge. Revenue surged 22% to Rs 11,534 crore, with record third-quarter EBITDA, higher volumes across segments, market share gains and strong cash position.

Shares of major Indian textile companies fell up to 6% for a second straight day after Bangladesh signed a trade agreement with the U.S., offering lower tariffs and exemptions on select textiles. Experts suggest the impact on Indian exporters may be limited, though competitive pressures could rise, particularly in product-specific categories.

MSCIs February 2026 index review added seven smallcap stocks, including Premier Energies, NSDL, and Emcure Pharmaceuticals, to the MSCI Global Standard Indexes. The reshuffle may drive passive fund flows and impact short-term stock movements as global index-tracking funds adjust their portfolios across multiple sectors.

The Indian equity market is exhibiting a narrow leadership, with only a few stocks like M&M and State Bank of India showing standout performances and reaching new highs. This selective strength contrasts with broader indices struggling for traction, indicating a stock-specific environment rather than a market-wide uptrend.

Indian state-run companies are set to raise 175 billion rupees through bond sales this week. Firms like NaBFID, HUDCO, SIDBI, and PFC are issuing bonds. This move comes as borrowing costs are expected to increase. Investors will closely watch the pricing of these sales. Companies are accessing the market despite current high rates.

The government's BHEL OFS is priced at Rs 254, offering a valuation of 21x FY28 earnings. Analysts see significant upside, driven by India's coal capacity roadmap and BHEL's strong order book. Margin expansion and growth in nuclear and coal gasification further bolster the bullish outlook.

Mahindra & Mahindra's recent quarterly results met market expectations. However, analysts noted concerns regarding profit margins and market share. New product launches, including the 3XO, impacted average selling prices. The tractor segment also saw some market share decline. Despite these points, the company's stock remains a buy for some.

Australian shares reclaimed the psychologically key 9,000-point mark on Wednesday, as a rally in banking stocks after upbeat Commonwealth Bank of Australia results overpowered losses in biotech heavyweight CSL.

Titan achieved a strong third quarter. Higher gold prices spurred customers to buy more valuable items. A fear of missing out drove sales during festivals and weddings. Despite flat buyer numbers, ticket sizes grew significantly. Titan's exchange gold strategy also saw a surge. The company outperformed the industry in gold jewellery grammage decline.

India is set for a robust industrial revival, driven by a global upturn, improving exports, and strong capital expenditure. Chetan Ahya of Morgan Stanley highlights AI infrastructure, defense spending, and energy transition as key structural drivers. Benign inflation and no rate hikes are expected until 2027, fostering a virtuous cycle for India's growth.

Wall Street is experiencing a sell-off in companies perceived to be at risk from AI advancements. Recent product launches, like Altruist's tax-strategy tool, have triggered significant stock declines in wealth management and other sectors. Investors are now prioritizing avoiding disruption over identifying AI winners, reflecting growing anxiety about the technology's potential to reshape industries.

Copper prices climbed on Wednesday on a weaker dollar, though demand slowed ahead of China's nine-day Lunar New Year break that begins over the weekend.

India's overnight indexed swaps signal that the central bank's rate-cut cycle has likely run its course, anchoring short-term rates, while longer-tenor rates are being pulled higher on expectations of firmer inflation and robust growth.

Hindustan Unilever Ltd is set to reveal its third-quarter financial results. Revenue growth is anticipated to be modest. Adjusted profit after tax may see a slight decrease. This is due to changes in the Goods and Services Tax regime. Demand stabilization is showing early signs. Investors will watch for management insights on rural recovery and pricing power.

M&M Q3 Results: Mahindra & Mahindra announced strong third-quarter results for FY26. Net profit surged 33% to Rs 3,931 crore. Revenue from operations grew 26% to Rs 38,942 crore. The automobile and farm sectors showed robust growth. Services businesses also contributed significantly to the improved performance. M&M shares saw an uptick following the announcement.

Eicher Motors shares jumped after the company reported strong Q3 results, with net profit rising 21% year-on-year to Rs 1,420 crore and revenue growing 23%. Brokerages also raised price targets, seeing potential upside in the stock.

Promoters are reducing stakes in Indian listed companies to an all-time low of nearly 49% in December 2025, driven by high valuations and strong investor appetite. Meanwhile, domestic institutional investors have increased their ownership to a record 20.6%, while foreign institutional investors and retail investors saw a dip.

Apollo Hospitals has announced robust quarterly results. Revenue surged by 17% to 6,477 crores, with net profit climbing 35% to 502 crores. The hospital segment saw a 14% revenue increase. Expansion plans are on track, with new beds opening soon. The pharmacy network is the largest in India. Profitability across segments is strong.