Trump Tariffs Send the Global Markets in a Tizzy – Monday Market Report
Moneylife Digital Team 03 February 2025
As US President Donald Trump's massive tariffs on Canada, Mexico, and China rekindled worries of a global trade war, the Sensex and Nifty fell on 3 February 2024, reflecting volatility in global markets. The dollar index shot up. Small and mid cap stocks were under severe pressures, especially those that have benefited for two years from government capex. On Monday, 1139 stocks advanced, 2877 declined and 168 remained unchanged on Bombay Stock Exchange with advance decline ratio of 0.40 indicating a positive closing in the broader market. Today 570 stocks were down more than 3%.
 
The trend of the major indices on Monday’s trading is given in the table below. 
 
 
On NSE, 34 securities advanced and closed at a new 52-week high whereas 79 securities sank to close at their new 52-week lows.  In sectoral indices, Nifty Energy, Nifty FMCG and Nifty Metal were among the biggest losers. Nifty IT and Nifty Pharma were among the biggest losers.
 
CreditAccess Grameen (-0.78%) secured approval for a $50 million commitment from the International Finance Corporation (IFC). 
 
Hazoor Multi Projects (HMPL) (-2.40%) will set up a 500-megawatt (MW) solar project in Andhra Pradesh at an investment of Rs2,500 crore. The company has already submitted a proposal with the state government to set up the project in Prakasam district over an area of 2,000 acres.
 
Mahindra Lifespace Developers (MLDL) (-1.79%) was appointed as the developer for a redevelopment project in Lokhandwala Complex, Andheri West, Mumbai. The project offers a Gross Development Value (GDV) of approximately Rs 950 crore.
 
One97 Communications (+4.25%) wholly-owned subsidiary -- Paytm Cloud Technologies (PCTL) received board’s approval for an investment of $1 million (equivalent to Rs8.70 crore) in Seven Technology LLC incorporated in Delaware for acquisition of 25% stake and execution of transaction documents in this regard.
 
KP Energy (-3.83%) successfully commissioned 25.8 MW wind power project consisting of 11 number of wind turbines generator, at Vagra Site in Bharuch. Further, the development work for remaining 2.8 MW capacity is under progress and is expected to be commissioned within this month. 
 
Happiest Minds Technologies (+2.66%) executed share purchase agreements with Gavs Technologies to acquire 100% of business interest of their Middle East business by acquiring viz., InnovazIT Technologies LLC, Dubai; Gavs Technologies LLC, Oman and Gavs Technologies Saudi Arabia. 
 
Earnings
Jaiprakash Power Ventures (-6.78%) reported 26.71% fall in its net profit at Rs126.68 crore for the quarter ended 31 December 2024 as compared to Rs172.85 crore for the same quarter in the previous year. Total income of the company decreased by 43.23% at Rs1256.63 crore for Q3FY25 as compared to Rs2213.68 crore for the corresponding quarter previous year.
 
GR Infraprojects reported 8.12% rise in its net profit at Rs262.59 crore for the quarter ended 31 December 2024, as compared to Rs242.88 crore for the same quarter in the previous year. However, total income of the company decreased by 16.74% at Rs1797.38 crore for Q3FY25 as compared to Rs2158.63 crore for the corresponding quarter previous year.
 
Aarti Industries (-1.53%) reported 62.90% fall in its net profit at Rs46.00 crore for the quarter ended 31 December  2024 as compared to Rs124.00 crore for the same quarter in the previous year. However, total income of the company increased by 6.03% at Rs1845.00 crore for Q3FY25 as compared to Rs1740.00 crore for the corresponding quarter previous year.
 
Relaxo Footwears (-1.98%) reported 14.42% fall in net profit at Rs33.01 crore for Q3FY25 as compared to Rs38.57 crore for the same quarter in the previous year. Total income of the company decreased by 6.26% at Rs673.70 crore for Q3FY25 as compared to Rs718.70 crore for the corresponding quarter previous year.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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