FX.co ★ Sensex, Nifty Marginally Lower In Early Trade

On Monday, Indian stocks were quiet, with their performance influenced by mixed signals from global markets and the impending expiry of derivative contracts for February.

The benchmark S&P/BSE Sensex fell 70 points, marking a decline of 0.1 percent to 73,073, whilst the broader NSE Nifty index also dropped 0.1 percent, down 15 points to 22,197.

Asian Paints led the decline in the Nifty pack with a drop of about 4 percent. Other losers included Infosys, Titan Company, BPCL, and Tech Mahindra, all decreasing by roughly 1 percent.

Contrarily, Power Grid Corp saw gains of approximately 2 percent, with Cipla, Bajaj Auto, Adani Enterprises and Larsen & Toubro all increasing by around 1 percent.

DLF experienced a decline of approximately 1 percent. This follows reports that it plans to launch properties worth Rs.80,000 crore over the forthcoming 3-4 years.

HDFC Bank saw a slight rise after receiving approval from the Reserve Bank of India (RBI) to sell its stake in HDFC Credila. Meanwhile, Reliance Industries experienced a minor decrease following reports it has signed a merger agreement with Walt Disney.

Canara Bank's stock price dropped following news of a stock split.

Mahindra Holidays & Resorts India saw robust growth, rising 2.6 percent following the announcement that it would invest up to Rs. 4,500 crores over the next three to four years, with plans to double its room capacity to 10,000.

Finally, Skipper saw a significant jump of 5.7 percent after winning an order worth Rs. 737 crores from the Power Grid Corporation of India.