The Indian stock market opened in the red on Monday, February 10, 2025, as both Sensex and Nifty 50 saw a sharp decline, primarily dragged down by metal and healthcare stocks. At 9:20 AM IST, the BSE Sensex fell by 302.65 points (-0.39%) to 77,557.54, while the NSE Nifty 50 dropped 98.80 points (-0.42%) to 23,461.15.
Among the Sensex stocks, Tata Steel Ltd led the decline with a 2.68% drop, trading at ₹134.60, followed by Power Grid Corporation of India Ltd, which fell by 1.99% to ₹272.75, and NTPC Ltd, which dropped 1.17% to ₹313.15. However, a few stocks managed to stay in the green, including Mahindra & Mahindra Ltd, which gained 1.57% to ₹3,247.85, Bharti Airtel Ltd, up by 1.10% at ₹1,696.30, and SBI, which rose by 0.64% to ₹741.80.
Sectoral indices reflected the overall weakness, with the Nifty Metal Index declining the most by 1.97% to 8,416.80. Major metal stocks, including Vedanta Ltd (-3.61%), Steel Authority of India Ltd (-3.40%), and JSW Steel Ltd (-2.45%), contributed to the slump. The healthcare sector also struggled, as the Nifty Midsmall Healthcare Index fell by 1.42% to 41,364.25, weighed down by Poly Medicure Ltd (-4.90%) and Alkem Laboratories Ltd (-4.65%). Similarly, the Nifty Healthcare Index dropped 1.24% to 14,042.50, with Alkem Laboratories Ltd, Max Healthcare Institute Ltd, and Laurus Labs Ltd among the biggest losers.
Adding to the market pressure, the Indian rupee weakened further, hitting an all-time low of ₹87.94 against the US dollar in early trade. This comes after the previous trading session, where the stock market had already closed in the red following the Reserve Bank of India’s decision to cut the repo rate by 25 basis points to 6.25%. The BSE Sensex had then closed 197.97 points (-0.25%) lower at 77,860.19, while the NSE Nifty 50 fell by 43.40 points (-0.18%) to 23,559.95.
With the RBI estimating a real GDP growth of 6.75% for the next fiscal year, investors remain cautious about the market’s direction. The overall sentiment remains weak as global cues, sectoral declines, and currency depreciation continue to influence market movements.
