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  5. SENSEX falls 500 pts, NIFTY50 trades below 23,000 in early trade; M&M tumbles over 4%

Market News

SENSEX falls 500 pts, NIFTY50 trades below 23,000 in early trade; M&M tumbles over 4%

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By Upstox News Desk

3 min read | Updated on February 17, 2025, 09:48 IST

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SUMMARY

At 9:30 am, SENSEX stood at 75,658.6 falling 280.61 points, or 0.37% while NIFTY50 declined 96.30 points, or 0.42%, at 22,832.95 level

Stock list

M&M
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RVNL
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During the opening bell, Sensex had tumbled nearly 600 points. | Image: Shutterstock

During the opening bell, Sensex had tumbled nearly 600 points. | Image: Shutterstock

The equity benchmark indices on Monday, February 17, continued to decline for the ninth consecutive session amid trade war fears, selling by foreign institutional investors (FII) and mixed corporate earnings.

At 9:30 am, SENSEX stood at 75,658.6 falling 280.61 points, or 0.37% while NIFTY50 declined 96.30 points, or 0.42%, at 22,832.95 level.

During the opening bell, Sensex had tumbled nearly 600 points.

As many as 39 stocks on the NIFTY50 index were trading in the red while only 9 stocks were in green.

Mahindra and Mahindra (M&M), Hero MotoCorp, Infosys, HDFC Life, Tech Mahindra were the biggest laggards on NSE, declining as much as 4.42%.

Globally, the US markets closed mixed on Friday at near all-time highs, with the Dow Jones and S&P500 closing in red and the NASDAQ closing in green with 81-point gains. The markets digested the higher inflation print and reacted more to tariff war news as President Trump announced reciprocal tariffs.

The Asian markets traded in green across the board, except in Japan. The Japanese indices traded with 25-point losses, while the Chinese, Hong Kong, and Korean indexes traded in green. The Japanese economy grew 0.7% in the previous quarter, much higher than 0.4% in the prior quarter and above the market expectations of 0.3%. The Japanese Yen strengthened to 152 on stronger-than-expected GDP data.

Also read: Stock market today: Key things to know before the opening bell on February 17
Stocks in news
Mahindra and Mahindra: Shares of Mahindra & Mahindra (M&M), the auto major, slipped as much as 4.84% to ₹2,955 apiece on Monday, February 17, as the company on Friday said it has secured 30,179 bookings for its two new electric models—XEV 9e and BE 6.

The Mumbai-based auto major claimed the booking number translates to a value of ₹8,472 crore (at ex-showroom price).

The company commenced bookings for the complete lineup of XEV 9e and BE 6 on Friday.

"Mahindra Electric Origin SUVs create a new record in the EV category by clocking 30,179 bookings on Day 1 with a booking value of ₹8,472 crore (at ex-showroom price)," Mahindra Group Chairman Anand Mahindra said in a tweet. The split between the XEV 9e and BE 6 is 56% and 44%, respectively, the company said. Read more
RVNL: Shares of Rail Vikas Nigam Limited (RVNL) tanked over 4.5% on Monday, February 17, as the company reported subdued December quarter earnings.

During the early trade, RVNL was trading down 4.72% on BSE at ₹343 apiece.

RVNL on Saturday had reported 13.14% decline in consolidated net profit to ₹311.44 crore in October-December quarter as against ₹358.57 crore posted in Q3FY24.

Profit before tax stood at ₹412.90 crore in Q3FY25, down 10.73% as compared to ₹462.55 crore in Q3FY24.

Its revenue from operations also decreased 2.6% year-on-year (YoY) to ₹4,567.38 crore during the reporting quarter. Read more
Broader market:

The broader market wad down almost 1% during the early trade. The BSE Midcap index was trading at 39,409.66, down 325.74 points, or 0.82% while BSE Smallcap slipped 451.89 points, or 1%, to 44,966.81 level.

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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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