The Valuation School
February 24, 2025 at 11:30 AM
📛 *Bazaar Bites - 24th February, 2025*
‼️ *By The Valuation School* ‼️
Benchmark indices extended their fall for a fifth session in a row today taking the *Nifty 50* to the *lowest* level in the last *eight months* .
*Major Indices Performance:*
• *NIFTY 50:* 📉 Decreased by 1.06%, closing at 22,553.
• *SENSEX:* 📉 Fell by 1.13%, ending at 74,454.
• *BANK NIFTY:* 📉 fell by 0.67%, settling at 48,651.
• *NIFTY MIDCAP:* 📉 down by 0.94%, reaching 50,013.
• *NIFTY SMALLCAP:* 📉 decreased by 1.02%, closing at 15,477.
*Major Sectoral Performance:*
• *Gainers:* Nifty FMCG was the gainer, rising 0.36% followed by Nifty Auto (+0.22%).
• *Losers:* Nifty IT led declines, falling 2.71%. Nifty IT index has now fallen for 11 out of last 12 sessions.Other sectors, including Metal, Realty, and Oil & Gas, saw losses, reflecting a broad market downturn.
*Major news headlines of the day:*
• *Bain Capital* is close to acquiring a controlling stake in *Manappuram Finance* through fresh capital and a secondary share sale, setting the stage for management overhaul.
• *Adani Group* plans to invest Rs 1.1 lakh crore across various sectors in *Madhya Pradesh* , including smart city and airport projects, to spur regional growth and job creation.
• *Pfizer’s* stock leaped 7% after signing a deal with Mylan to market and sell two neuro-therapy brands.
• *NTPC Green Energy’s* shares dropped 8% on Monday—the worst fall since listing—as anchor investors offloaded their stakes when the lock-in ended.
• US *oil exports* to India nearly doubled in February, while Russian shipments fell as Indian refiners shift supplies.
• Indorama is set to acquire a 24.9% stake in *EPL Ltd* from Blackstone for $200 million, marking a strategic expansion move.
• *NTPC* and *EDF* India are partnering in a 50:50 venture to develop pumped storage and renewable projects, accelerating India’s clean energy transition.
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