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• Broad-based selling across markets led to a significant decline in Indian indices, with the Sensex falling by over 1,200 points and the Nifty dropping below the 23,000 level, marking a seven-month low. Investor sentiment was dampened after US President Donald Trump reiterated his plan to impose 100% import tariffs on BRICS nations, including India. Additionally, persistent selling by Foreign Institutional Investors (FIIs) and weaker-than-expected quarterly results from some mid-cap companies further negatively affected the market. There are also concerns about Trump's tariff plans and their potential impact on the dollar, treasury yields, and inflation, which have raised fears of increased foreign portfolio outflows. As a result, the India Vix rose by 4%, reaching a two-month high above 17.

• At the close, the Sensex dropped 1,235 points (1.6%) to 75,838, while the Nifty fell 320 points (1.4%) to 23,024, briefly touching an intraday low of 22,976. The Nifty Realty and Consumer Durable indices were the biggest losers, each falling over 4%. Other sectors, including Nifty Mid-Cap, Small-Cap, Bank, Auto, and Metal indices, saw declines of up to 2%.

• On the individual stock front, MCX slipped 8% to close at Rs 5,504 after reporting disappointing Q3 results. Dixon Technologies plummeted 14% to Rs 15,144 after a weak Q3 performance.

• Technical Outlook:

• Nifty index opened on a positive note but bears took control right from the start as selling pressure witnessed from higher levels. The index experienced extreme volatility around midday moving 1% in both directions within a few minutes. In the later part of the day, intense selling resumed wiping out the gains of the last six trading sessions as index broken below 23000 mark. Index is not able hold above 23333 zones as follow up buying is absence at higher zones. It formed bearish engulfing candlestick on daily chart and closed with losses of above 300 points. Now till it holds below 23200 zones, weakness could continue towards 22800 then 22600 zones while hurdles are placed at 23200 then 23333 zones.

Derivative Outlook:

• Nifty future closed negative with loss of 1.26% at 23105 levels. Positive setup seen in Hindustan Petroleum, LTF, Max Healthcare, Tata Consumer Product, JK Cement, Muthoot Finance, and Berger Paints while weakness in Dixon, Zomato, MCX, Oberoi Realty, Kalyan Jewellers, M&M, Trent, Jio Finance, Prestige Estate, Coforge, Lodha, CAMS and CDSL.

• On option front, Maximum Call OI is at 24000 then 23500 strike while Maximum Put OI is at 22000 then 22500 strike. Call writing is seen at 23500 then 23200 strike while Put writing is seen at 22400 then 22300 strike. Option data suggests a broader trading range in between 22500 to 23500 zones while an immediate range between 22800 to 23300 levels.

• Kolte-Patil Developers – Company’s new area sales value drops 9% YoY to Rs 680 crore, new area sales volume drops 18% YoY to 8.1 Lakh Sq Ft and new area sales collection rose 15% YoY to Rs 567 crore versus Rs 493 crore. • Ram Ratna Wires – Company received approval under PLI Scheme for White Goods (Air Conditioners), according to an exchange filing on Tuesday. The company committed an investment of Rs 253 crore under the PLI scheme for copper tube and aluminum stock for foils or fins for heat exchangers.

• Hyundai Motor India- Company localised over 1,200 key components and elective vehicles battery-packs while achieving up to 92% localisation in manufacturing via strategic indigenisation roadmap. The automaker commenced local assembly of battery-packs at Chennai manufacturing facility. Hyundai CRETA Electric First model will become equipped with locally assembled battery-packs.

• Hatsun Agro Product to acquire 100% stake of Milk Mantra Dairy – Company has announced the acquisition of 100% of the share capital of Milk Mantra for Rs 233 crore. This acquisition aims to strengthen HAP’s presence in the Eastern India dairy market, particularly in Odisha, where Milk Mantra’s brand, ‘Milky Moo’, has established a strong foothold, the company said

• Jio Financial, BlackRock JV Incorporates Unit For Broking Ops – Company’s joint venture with BlackRock has incorporated a unit for broking business. Jio BlackRock Broking Pvt. to be a wholly owned unit of the JV Jio BlackRock Investment Advisers Pvt. and will start operations after regulatory approvals

• Technocraft Industries – Company has received the prestigious B Certification from quality and certification center of Institute of Technology. This Certification will also make it easier and faster for the Company to obtain similar Certifications in neighbouring European countries wherein the Company decides to offer its Ringlock System.

• Aditya Birla Real Estate Q3 Revenue falls 10.6% (YoY) to Rs 957 crore, Ebitda down 93.5% (YoY) to Rs 12.8 crore, Ebitda Margin at 1.3% versus 18.4% (YoY). Net Loss of Rs 42.4 crore versus Profit of Rs 79.9 crore (YoY)

Global Market Update

• European Market - -- European equities stalled on Tuesday as investors were relieved the region was spared from US President Donald Trump’s immediate tariffs. UK, Germany and France Index are trading flat to positive.

• Asian Market - Asian markets saw big fluctuations Tuesday as Donald Trump took office warning he could impose stiff tariffs on Canada and Mexico next month but appeared to delay any action against China for now.

• The new US president's announcement that the country's closest neighbours could be hit with 25 percent levies as soon as February 1 also jolted currency markets, with the Mexican peso and Canadian dollar tumbling..

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