Business
Market Declines for Eighth Consecutive Session—First Time in Two Years
The market’s downturn was largely attributed to ongoing concerns regarding persistent selling by foreign institutional investors (FIIs) and disappointing Q3 earnings reports.
Currently, the Nifty sits 13% below its all-time high, with the Sensex down 12% from its peak. Both the BSE Midcap and BSE Smallcap indices suffered significant declines, each plummeting over 3%. The smallcap index has fallen approximately 21% from its December record high, while midcaps are down 19.5% from their September closing peak.
In a notable shift, the total market capitalization of BSE-listed companies dipped below Rs 400 lakh crore for the first time since June 2024. Across all major sectors, all 13 indices closed in the red, with Nifty Energy, Media, PSU Bank, and Pharma sectors experiencing the steepest losses, falling between 2-3%.
Pharma stocks faced increased selling pressure, partly due to tariff threats from the US. On the Nifty 50, significant losers included Bharat Electronics, Adani Enterprises, Trent, Adani Ports, and Sun Pharma, all of which tumbled by 3-4%. Conversely, Britannia, ICICI Bank, Nestle, Infosys, and TCS managed to gain slightly, rising 0.7-1%.
Noteworthy individual performance included Hindalco Industries, which saw a 2% increase in its stock price, reaching Rs 615 due to positive Q3FY25 results. Maruti Suzuki India shares appreciated by 1% to Rs 12,780 following HSBC’s re-affirmation of a “buy” rating. United Breweries stock initially surged by as much as 6.6% to Rs 2,166.
On the downside, ITI Ltd saw its shares decline by 5% after releasing its Q3FY25 results. Meanwhile, NATCO Pharma shares fell by another 10%, following a previous day’s 20% drop. Manappuram Finance’s stock also dropped 5%, settling at Rs 183, impacted by lackluster Q3FY25 earnings.
Amid global economic uncertainties and a strengthening US Dollar, FIIs have been net sellers in Indian equities, contributing to the declines seen in both the Sensex and Nifty.
Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.
Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.
With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.
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Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.
The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.
Business : After the death of parents, legal heirs are eligible to inherit their property. However, certain procedures must be followed before the transfer is completed in India.
Heirs must file the deceased person’s income tax return for the year of death and pay any pending taxes. There is no estate tax on inherited property in India, but any income earned from it, such as rent or interest, is taxable.
If the property is sold, capital gains tax will apply based on the difference between the original purchase price and the selling price. Clearing any outstanding loans linked to the property is also mandatory.
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Important documents such as the will, succession certificate, death certificate, and property valuation report should be kept ready to ensure a smooth transfer process.
New Delhi: Banks across India will remain closed on February 14 as it falls on the second Saturday of the month. The holiday is part of the official schedule released by the Reserve Bank of India, which requires banks to shut on the second and fourth Saturdays and all Sundays.
Customers are advised to finish important financial tasks early to avoid last-minute trouble. Every year, the RBI publishes a holiday calendar that lists national holidays, regional festivals, and other scheduled closures.
In February, banks in some states will also close for regional occasions such as the birth anniversary of Chhatrapati Shivaji Maharaj and Statehood Day in Mizoram and Arunachal Pradesh.
READ MORE :Class 1st Girl Loses Two Fingers in School Accident
Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.
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