Indian equity indices ended on a positive note on January 1, with Nifty surging above the 23,700 mark. At the close, the Sensex rose by 368.40 points, or 0.47%, to 78,507.41, while the Nifty gained 98.10 points, or 0.41%, closing at 23,742.90. Advancing shares outnumbered decliners, with 2,642 shares rising, 1,177 falling, and 83 remaining unchanged.
Among the top gainers on the Nifty were Maruti Suzuki, M&M, Bajaj Finance, L&T, and Eicher Motors. On the flip side, the losers included Dr Reddy's Labs, Hindalco Industries, Adani Ports, ONGC, and Tata Steel.
Except for the realty and metal sectors, all other sectoral indices ended in the green. Notably, the auto, power, and capital goods sectors saw a 1% rise each. The BSE Midcap index gained 0.5%, while the Smallcap index surged by 1%.
The Indian rupee closed marginally lower at 85.64 against the dollar, compared to Tuesday's closing of 85.60.
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Jan 01, 2025, 3:40 pm IST
Market Ends With Gains
Indian equity indices ended on a positive note on January 1, with Nifty surging above the 23,700 mark. At the close, the Sensex rose by 368.40 points, or 0.47%, to 78,507.41, while the Nifty gained 98.10 points, or 0.41%, closing at 23,742.90. Advancing shares outnumbered decliners, with 2,642 shares rising, 1,177 falling, and 83 remaining unchanged.
Jan 01, 2025, 2:35 pm IST
Sun Pharma Exits Japanese Subsidiary with 100% Stake Sale
Sun Pharma has announced an agreement with Zaza Industrial Holdings KK, Japan, to divest its entire 100% stake in Sun Pharma Japan Technical Operations, a step-down subsidiary held through Sun Pharma Japan. The sale, valued at just one Japanese yen, will result in Sun Pharma Japan Technical Operations ceasing to be a subsidiary of the company.
Jan 01, 2025, 1:52 pm IST
EaseMyTrip Co-Promoter Nishant Pitti Steps Down as CEO
Nishant Pitti, co-promoter of Easy Trip Planners Ltd., the parent company of the online travel platform EaseMyTrip, has resigned from his position as CEO, effective January 1, 2025, citing personal reasons.
Jan 01, 2025, 1:21 pm IST
SJVN Partners with Bihar Government to Develop 1,000 MW Pumped Storage Project
SJVN has entered into a Memorandum of Understanding (MoU) with the Bihar government to develop the 1,000 MW Hathidah Durgawati Pumped Storage Project along with other similar initiatives.
Jan 01, 2025, 11:52 am IST
Stock Market Updates: Large-caps Drive
Adani Enterprises, Asian Paints, M&M, Apollo Hospital, and L&T stocks drive the market. These stocks have zoomed by 1% to 3%.
Jan 01, 2025, 11:32 am IST
Market Live Updates: Easy Trip Planners Share Price
Easy Trip share price traded lower by nearly 1% on BSE. The performance comes after the travel company's CEO Nishant Pitti resigns citing personal reasons. To replace him, CFO and brother Rikant takes charge.
Jan 01, 2025, 10:51 am IST
Market Live Updates: 5 Stocks Rally 6% To 11%
Amidst slow gains in Sensex, there are a list of 5 stocks that outperformed market. Strides Pharma is the top gainer of BSE, with upside of 11%. Further, stocks like Century Ply, Authum Investment, Dishman Carbogen, and Syrma SGS Technology gained by 6% to 11%.
Jan 01, 2025, 10:23 am IST
Market Live Updates: ITC-ITC Hotels Demerger Impact
At the time of writing, ITC stock traded at Rs 483.65 apiece, marginally down on BSE with market cap of Rs 6,04,503.29 crore. The stock has corrected significantly from its 52-week low of Rs 528.55 apiece, and is less than Rs 100 away from its 52-week low of Rs 399.30 apiece.
On the demerger day, the stock opened at Rs 487.90 apiece on Wednesday, which was also its intraday high levels. Currently, the stock is near its intraday low of Rs 482.25 apiece. In the previous session, the stock was at Rs 483.65 apiece.
Jan 01, 2025, 9:33 am IST
ITC Shares In Focus
On January 1, 2025, ITC will demerge its hotel operations. On January 6, 2025, the record date, shareholders will receive one ITC Hotels share for every ten ITC shares. After the NCLT order, ITC Hotels will list its shares in 60 days. ITC Hotels will be positioned for expansion and run with a balance sheet that has no debt.
Jan 01, 2025, 9:22 am IST
Rupee Vs Dollar
After closing at 85.60 on Tuesday, the Indian rupee began unchanged on Wednesday at 85.62 to the US dollar.
Jan 01, 2025, 9:22 am IST
TCS In Focus
On Thursday, January 9, 2025, the Board of Directors of Tata Consultancy Services Limited will meet to approve the company's financial results for the quarter and nine months ended December 31, 2024. The record date for the third interim dividend has been set by the firm for Friday, January 17, 2025.
Jan 01, 2025, 8:56 am IST
Year-end market outlook by Vijay Bharadia, Managing Partner & CIO at Wallfort PMS
The Indian growth story remains robust, and several positive developments in 2024 reinforce our optimism for the coming year. The significant strides in infrastructure development, a thriving manufacturing sector, and an ongoing digital transformation are laying the foundation for sustained economic growth. These factors, coupled with strong domestic consumption and healthy corporate earnings, give us confidence that India is well-positioned for continued success in 2025.
Jan 01, 2025, 8:30 am IST
Nifty Outlook Today
“Technically, Nifty on a daily scale has defended its trend line support and formed a bullish candle, indicating strength. On the upside, 200-Days Simple Moving Average (200-DSMA) is placed near 23,870, which will act as a short-term resistance, while 23,500 will act as support. In the immediate term, Nifty is expected to consolidate between 23,500 and 23,900, with a breakout on either side, further determining the direction of the market,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. (A Pantomath Group Company).
Jan 01, 2025, 8:10 am IST
Nifty Bank Prediction For 2025
“Heading into 2025, the broader trend remains weaker for Nifty Bank as it hovers near its 200 DMA. The formation of an inverted hammer candle in the previous session reflects a continuation of the ongoing bearish trend, with the RSI remaining below the 40 level. The levels to watch include 50,600; a breach below this could pave the way for further downside toward 50,200 or even 49,787, the previous swing low. On the upside, a close above 51,430 is essential to regain positive traction,” commented Om Mehra.
Jan 01, 2025, 8:10 am IST
Nifty Prediction
“As we enter 2025, the broader trend for Nifty remains weak, with the index hovering below its 200 DMA, signalling cautious sentiment. On the daily chart, a hammer candle hints at a potential pullback from lower levels, while the hourly MACD indicates a positive crossover, suggesting some short-term recovery. On the downside the key levels to watch is 23,440; a breach below this could lead to a test of the previous swing low at 23,263. A decisive close above 23,850 is essential for reversing the bearish trend. Adding to the uncertainty, India VIX surged for the second straight day, hovering between 14-15 levels, highlighting heightened nervousness. The trading volumes amplify the risk of sharp intraday swings in the sessions ahead,” said Om Mehra, Technical Analyst, at SAMCO Securities.
Jan 01, 2025, 8:04 am IST
Nifty Bank Options Market Insights
“In the derivatives space, indecision prevailed, as balanced activity in calls and puts highlighted a lack of directional conviction. The 52,000-strike call accumulated the highest open interest of 13.91 lakh contracts, cementing its position as a formidable resistance. Conversely, the 51,000-strike put drew 11.23 lakh contracts, underscoring a key support zone. Active trading in the 51,600–52,000 call band and the 51,000–51,500 put zone signified immediate resistance at 52,000 and robust support around 51,000. Notably, a near-equal addition of calls and puts confined the index within the 51,000–52,000 range, fostering a tug-of-war between buyers and sellers. The Put-Call Ratio (PCR) dipped to 0.90 from 0.99, reflecting a slight reduction in bullish sentiment. Meanwhile, the "max pain" level at 51,900 pointed to a potential pivot for the market,” commented Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Jan 01, 2025, 8:04 am IST
Bank Nifty Outlook Today
“On the daily chart, the index traded near its previous swing low and the 200-day exponential moving average (200-DEMA), which together bolster the support area. As long as the index remains above this critical zone, buying interest is likely to persist. However, the index continues to face stiff resistance at the psychological 51,000 level, with recovery attempts struggling to breach the 51,200–51,500 range. The daily RSI hovered below 40, signalling waning bullish momentum,” said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Jan 01, 2025, 8:04 am IST
Nifty Outlook Today
“On the daily chart, the index carved out a bullish hammer-like candlestick, highlighted by a prominent lower shadow and a small but firm body, signalling a notable rebound by buyers. However, Nifty remains under the 200-day exponential moving average (200-DEMA), indicating overhead resistance ahead. Hovering near the pivotal 23,500–23,550 zone, which aligns with a critical swing low, the index finds itself at a turning point for any reversal attempt. Efforts to reclaim higher levels were repeatedly thwarted at the psychological 24,000 mark due to a lack of sustained buying momentum. Meanwhile, the daily RSI slipped below 40, reflecting waning bullish strength,” said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Jan 01, 2025, 8:01 am IST
Nifty Options Market Insights
“In the derivatives space, a balanced tug-of-war between call and put writers reflected market indecision as traders awaited a clear trigger. The 24,000-strike call accumulated significant open interest of 99.93 lakh contracts, solidifying its status as a key resistance level. Conversely, the 23,500-strike put amassed 85.02 lakh contracts, confirming it as a strong support zone. Active participation in the 23,700–24,000 call range and the 23,600–23,500 put band highlighted immediate resistance at 24,000 and firm support at 23,500. Nearly equal additions in both call and put options created a constrained range of 23,500–24,000, reinforcing the stalemate between bulls and bears. The Put-Call Ratio (PCR) improved to 0.97 from 0.74, reflecting a subtle shift toward bullish sentiment. Nevertheless, the "max pain" point at 23,800 signals limited downside in the short term,” said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Jan 01, 2025, 8:01 am IST
Market Strategy and Outlook 2025 By Geojit Financial Services
The current environment is favorable for balanced equity investments, with no major global economic issues deterring equities. However, the uncertainty surrounding Trump's economic policies & high valuation may impact the stock market in the short term, particularly in emerging markets. There are no signs of recession, though tapering could influence valuations. A balanced approach, including specific stocks and sectors, along with investments in gold, silver, and debt instruments, is essential for portfolio stability. We have an optimistic view on a medium-term basis, with caution in the short-term.
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