After opening the day lower, Indian benchmarks pared some losses as the session progressed and ended the day marginally lower.

Benchmark equity indices reversed their early losses to end the 8-day losing streak, settling in positive territory on Monday.

At the closing bell, the BSE Sensex closed higher by 58 points (up 0.1%).

Meanwhile, the NSE Nifty closed 30 points higher (up 0.1%).

Shriram Finance, Adani Enterprises, and IndusInd Bank are among the top gainers today.

Adani Enterprises, L&T, and Infosys on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,029, up by 97 points at the time of writing.

The BSE MidCap index is trading 0.5% higher and the BSE SmallCap index ended 0.5% lower

Sectoral indices were trading mixed with stocks in the energy sector and healthcare sector witnessing buying. Meanwhile, the stocks inthe  telecom sector and media sector witnessing selling pressure.

The rupee is trading at 86.86 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% higher at Rs 85,094 per 10 grams.

Meanwhile, silver prices were trading 0.2% higher at Rs 95,732 per 1 kg.
 

Glenmark Pharma Jumps 4%. Here's Why

In news from the pharma sector, Glenmark Pharmaceuticals Ltd. saw a 4% increase in its share price on 17 February after the company provided strong guidance for FY26 and reported a return to profitability in the December quarter.

For the quarter ending 31 December, Glenmark reported a consolidated net profit of Rs 3.48 bn, a significant turnaround from the loss of Rs 3.5 bn in the same quarter the previous year. Revenue from its US markets grew by 1.4%, although this was slower than the 5.5% growth in the previous quarter.

Looking ahead, the company anticipates growth starting from FY26, driven by expected launches in its respiratory and injectable segments.

Glenmark's Chairman and Managing Director, Glenn Saldanha, highlighted the strong and sustained growth seen during the quarter, fueled by robust regional performance.

The European business continued to perform well, and the branded markets showed resilient growth.

The company expects its North American business to gain momentum starting in FY26, supported by its expanding respiratory and injectable portfolio.

Glenmark Pharma is actively involved in the discovery of new molecules, NCEs (new chemical entity) and NBEs (new biological entity).

Borosil Renewable Shares Hit Lower Circuit

Moving on to news from the glass sector, shares of Borosil Renewables were locked in a 5% lower circuit on 17 February, following the company's widened net losses for the December quarter.

The company's net loss increased to Rs 300 m, a significant deterioration from the Rs 159 m loss reported in the same quarter last year.

The downturn in the company's bottom line was driven by rising input costs, weak operational performance, and pricing pressures.

Borosil Renewables also posted an EBITDA loss of Rs 11 m, a stark contrast to the Rs 206 m gain reported in the same period last year.

The decline in EBITDA was mainly attributed to reduced profitability in its Indian operations due to falling selling prices.

The company noted that the imposition of a 10% basic customs duty (BCD) on imports from October did not significantly impact the prices of imported glass. This was largely due to a sharp drop in free on board (FOB) prices from China in Q2, coupled with a reduction in ocean freight costs in Q3.
 

Reliance Infra's Shares Drop After Loss

Moving on to news from the infrastructure sector, Reliance Infrastructure shares dropped nearly 8%, reaching Rs 230.7 in Monday's trade on the BSE, following the company's widened consolidated net loss of Rs 32.9 bn for Q3 FY25.

This loss marks a significant increase from the Rs 4.2 bn net loss reported during the same period last year.

The company's revenue from operations for Q3 FY25 was Rs 47.4 bn, reflecting a modest 0.55% year-on-year growth from Rs 47.2 bn in Q3 FY24.

However, the company's revenue from its power and infrastructure sectors saw declines of 1.3% and 13.01% YoY, respectively, with power revenues at Rs 42.8 bn and infrastructure revenues at Rs 4.1 bn in Q3 FY25.
 

Bitcoin Trades Lower

Major cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, and Dogecoin, traded lower on Monday, 17 February, with losses of up to 6%. Bitcoin dropped 1.5%, reaching US$ 96,122, while Ethereum declined 2% to US$ 2,656.

The global cryptocurrency market cap also fell by 1.67%, standing at US$ 3.18 tn over the past 24 hours.

Other significant altcoins saw similar declines, with XRP down 4.3%, Solana falling 6.3%, Dogecoin losing 3.8%, and Litecoin dropping 7.9%. Chainlink, Stellar, Avalanche, Sui, Tron, and Shiba Inu also registered losses ranging from 1.6% to 4.4%.

In the past 24 hours, Bitcoin's market cap decreased to US$ 1.907 tn, with its dominance now at 59.91%.

Bitcoin's trading volume surged 20%, reaching US$ 18.19 billion. Stablecoins accounted for 91.06% of this volume, totalling US$ 58.31 bn.

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