Business
Stock Market Drops Following President Trump’s Announcement of New Tariffs
The Sensex fluctuated between 77,260.37 and 76,756.09, ultimately closing 0.41% lower at 77,505.96.
The Indian rupee hit a record low in early trading as the dollar index strengthened, falling to 87.1100 against the US dollar from 86.6162 at the previous close.
On the Nifty, 35 stocks closed in the red, led by Larsen & Toubro, Tata Consumer, Hero MotoCorp, Coal India, and Bharat Electronics, with losses reaching up to 4.67%. Conversely, Bajaj Finance, Shriram Finance, Mahindra & Mahindra, Wipro, and Bajaj Finserv were among the 13 stocks that ended in positive territory, gaining up to 5.12%.
The Midcap index lagged behind the Nifty 50, with the Nifty Midcap 50 closing down by 0.65%. Small-cap stocks also underperformed, as the Nifty Small Cap 100 finished at 16,979.75, down 362.15 points or 2.13%.
Sector-wise, the market closed with mixed performance. The Nifty Oil & Gas, FMCG, and PSU Bank indices were the hardest hit, falling by 2.22%, 1.67%, and 1.60%, respectively. In contrast, Nifty IT, Auto, Pharma, Healthcare, and Consumer Durables managed minor gains of up to 0.68%.
Key gainers included Bajaj Finance (5.32%), Mahindra & Mahindra (3.14%), Wipro (2.89%), Shriram Finance (2.70%), and Bajaj Finserv (2.33%). On the flip side, the top losers were Larsen & Toubro (4.59%), Oil & Natural Gas Corporation (3.32%), Tata Consumer (3.14%), Coal India (2.93%), and Bharat Electronics (2.71%).
The Bank Nifty closed the session at 49,506.95, reaching an intraday high of 49,373.45 and a low of 48,906.05.
Among individual stocks, Eicher Motors Limited saw its shares rise more than 3% to Rs 5,575.5, while Hero MotoCorp’s share price experienced a slight uptick following a report of improved sales for January.
Following the budget presentation, railway stocks took a hit. IRCTC fell by 3.95%, hitting an intraday low of Rs 763.3 on the NSE, while IRFC dropped 5.5% to Rs 133.45, marking a two-session decline of 10.23%. RVNL and Ircon International experienced sharp declines of 7.31% and 5.74%, respectively, and Titagarh Rail Systems was down 7.72% to Rs 882.2, with Jupiter Wagons losing 7.85% during intraday trading.
Oil marketing companies also saw losses after the government announced no compensation for LPG under-recoveries. Indian Oil declined by 2.6%, Bharat Petroleum Corporation dropped by 4.4%, and Hindustan Petroleum Corporation fell by 7%.
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.
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Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.
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