The stock market closed on a negative note today, with the Sensex declining by 304.89 points (0.40%) to settle at 76,215.49. Meanwhile, the Nifty 50 slipped by 113.15 points (0.49%), ending at 23,092.20.
On the sectoral front, FMCG stocks provided some relief, extending gains by 0.52%. However, major losses were seen in Nifty Pharma, Realty, Auto, and Banking indices, which emerged as the worst performers for the day. The bearish sentiment was driven by subdued investor confidence across key sectors, despite selective gains.
11 out of 13 sectoral indices were trading in the red. Pharma, media, and automobiles sectors were the worst hit. The broader market was also negatively impacted. Small and midcap indices lost all gains from the previous session.
The trading session was characterized by mixed sectoral performance. The IT, Metal, and Banking sectors lent crucial support to the market, showing resilience and positive momentum. In contrast, sectors such as Media, Pharma, and Auto were not as fortunate, registering declines that underscored the varied impact of market forces across different industries.
The growth in IT, Metal, and Banking sectors suggests a positive outlook among investors for these industries, possibly driven by favorable policy measures, corporate earnings, or other factors. Conversely, the downturn in Media, Pharma, and Auto sectors might reflect sector-specific challenges or broader economic concerns affecting these areas.
Companies like Shriram Finance, Laurus Labs, Torrent Pharma, Suven, Trident, JSW Steel, Jindal Saw, DLF, and AU Small Finance Bank will be in focus due to their Q3 results announcement.
Yesterday, Sensex closed at 76,520.38, up by 115.39 points or 0.15%, while Nifty 50 surged by 50 points or 0.22% to finish at 23,205.35 on Thursday, January 23. Bank Nifty, however, had dipped by over 135 points to close at 48,589. Broad-based buying was seen across indices in the session.
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Jan 24, 2025, 3:30 pm IST
Stock Market Live Updates: G E Shipping contracts to sell its 2011 built Supramax Dry Bulk Carrier “Jag Rishi”
The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2011 built Supramax Dry Bulk Carrier, Jag Rishi of about 56,719 dwt on January 24, 2025 to an unaffiliated third party. The vessel will be delivered to the new buyer by Q4 FY25. Including Jag Rishi, company’s current fleet stands at 39 vessels, comprising 26 tankers (5 crude carriers, 17 product tankers, 4 LPG carrier) and 13 dry bulk carriers (2 Capesize, 8 Kamsarmax, 3 Supramax) aggregating 3.10 Mn dwt.
Jan 24, 2025, 3:11 pm IST
Stock Market Live Updates: NTPC Renewable Energy Limited Wins 300MW Solar Project in NHPC’s Tender
NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited (NGEL), has emerged as a successful bidder in the e-reverse auction conducted by NHPC Limited. The tender aimed at the “Selection of Solar Power Developers for Setting up of 1200 MW (1.2 GW) ISTS (Inter State Transmission System) Connected Solar Power Projects with 600MW/1200MWh Energy Storage Systems (ESS) on an anywhere-in-India basis under Tariff Based Competitive Bidding with Green Shoe Option.” NTPC REL secured a capacity of 300MW at a tariff of ₹3.09/kWh. In line with the Request for Selection (RFS) conditions, the project will include the establishment of an Energy Storage System (ESS) with a capacity of 150MW/300MWh, ensuring enhanced reliability and efficiency of the solar power generation.
Jan 24, 2025, 3:02 pm IST
Stock Market Live Updates: Granules India Q3 Results
Granules India Ltd., a vertically integrated pharmaceutical
company, today announced its financial results for the quarter ended December 31, 2024. Q3FY25 Revenue from operations at INR 11,377 Mn. down by 2% YoY, EBITDA at INR 2,303 Mn. down by 8% YoY, PAT at INR 1,176 Mn. down by 6% YoY.
Jan 24, 2025, 2:39 pm IST
Stock Market Live Updates: SpiceJet Expands Flight Services to Prayagraj for Maha Kumbh 2025
SpiceJet has announced the addition of special flights to Prayagraj for the Maha Kumbh by introducing new direct flights from Guwahati, Chennai, and Hyderabad. In addition, the airline will enhance its existing daily services to Prayagraj from Delhi, Mumbai, Ahmedabad, Jaipur, and Bengaluru by adding more flights from these key cities. The special flights from Chennai and Hyderabad will operate from February 1 to February 27, 2025, while services from Guwahati will run from February 11 to February 28, 2025.
Jan 24, 2025, 2:18 pm IST
Smallcaps and Midcaps Under Pressure, Indices Flat As Nifty Holds Near 23,200
11 out of 13 sectoral indices were trading in the red.Pharma, media, and automobiles sectors were the worst hit. The broader market was also negatively impacted. Small and midcap indices lost all gains from the previous session.
Jan 24, 2025, 1:06 pm IST
Nifty Holds Above 23,200 as Cyient Shares Plunge 19%
In a significant market movement, Cyient's stock prices plunged by 19% following the announcement of their CEO's departure along with a reduced forecast for FY25. Meanwhile, Paytm's shares took a 9% hit amidst swirling reports that the Enforcement Directorate (ED) is probing the company in connection with a cryptocurrency scam. However, Nifty Pharma index falls over 1% and Dr Reddy's Labs slip 6% post Q3 results.
Jan 24, 2025, 11:55 am IST
Dr Agarwals Healthcare IPO Open Today
Dr. Agarwal's Health Care Limited, a leading provider of eye care services and supported by TPG and Temase, is set to launch its initial public offering (IPO) at the end of January. Interested investors can subscribe to the IPO starting January 29, with the subscription period closing on January 31. A special session for anchor investors will commence on January 28, a day before the general subscription period begins. This move marks a significant step for the health care provider as it seeks to expand its reach and capabilities in the eye care industry.
Jan 24, 2025, 11:53 am IST
Gold Prices Touches ₹80,000 on MCX
Gold Prices on MCX Touches ₹80,000 Mark for the First Time Ever
Jan 24, 2025, 11:44 am IST
KFin Technologies share rise 13%
KFin Technologies' share price experienced a notable increase of nearly 13% during intraday trading on the BSE on January 24. This surge followed the company's announcement of its December quarter results. The stock opened at ₹1,144.80, up from its previous close of ₹1,104.80, and reached a peak of ₹1,245.45, marking a 12.7% rise.
Jan 24, 2025, 11:17 am IST
Suzlon Energy Share in Focus
Suzlon Energy Ltd., a notable player in the renewable energy sector, has recently secured a significant order from Torrent Power Ltd., marking their fifth collaboration. This latest venture involves a hybrid order of 486 MW, which boosts their collective wind energy contribution in India to a commendable 1 GW. Details regarding the financial aspects of this deal remain undisclosed as of now.
Jan 24, 2025, 11:14 am IST
HDFC Sec Commodity Intraday Recommendations
Buy Silver Mini Feb at 91600-91625 TGT 92500 SL 91100
Sell Crude oil Jan Fut at 6480 TGT 6375 SL 6525
Buy Copper Jan Fut at 833 TGT 842/845 SL 829
Jan 24, 2025, 11:12 am IST
India's composite PMI drops to a two-year low.
The HSBC India Composite PMI fell to 57.9 in January 2025, from 59.2 the previous month, according to flash data. It was the lowest figure since January 2023, despite the 42nd consecutive month of growth in private sector activity, which remained above its long-run average of 54.7.
Paytm's stock price dropped over 8% on Friday. This decline followed a report that the company, along with seven other payment gateways, is under investigation by the Enforcement Directorate (ED) for alleged involvement in a cryptocurrency scam. Paytm's shares fell to ₹773.90 each on the BSE, marking an 8.84% decrease.
The ED has been scrutinising One 97 Communications, Paytm's parent company, and other payment gateways. Over the past two years, approximately ₹500 crore has been frozen in their virtual accounts. This action relates to a cryptocurrency scam allegedly orchestrated by 10 Chinese nationals using the HPZ Token app.
Jan 24, 2025, 11:01 am IST
India's manufacturing growth is at a 6 month high
The HSBC India Manufacturing PMI rose to 58 in January 2025, surpassing December's 56.4 and the anticipated 56.7. This marks the quickest growth in India's manufacturing sector since July of the previous year.
Jan 24, 2025, 10:28 am IST
BOJ Raises Interest Rates
Amid recent data revealing inflation rates aligning closely with its 2 percent target, the Bank of Japan announced an increase in its key interest rate to approximately 0.5 percent, up from 0.25 percent. This adjustment, made on January 24, reflects the bank's assessment that inflation is stabilizing at a preferred level.
Kazuo Ueda, the Governor of the Bank of Japan, had been hinting at such a decision for some time. With inflation rates now consistently meeting the central bank's target, Ueda is set to provide further insights during a press briefing scheduled for later today.
Jan 24, 2025, 10:25 am IST
Dr Reddy’s Laboratories share fell 6%
On Friday, following the announcement of its third-quarter results after Thursday's market close, Dr Reddy's Laboratories witnessed a significant drop in its share price, dipping over 6% during the morning trading session. The share price of Dr Reddy's Laboratories, which had concluded the previous day at ₹1289.35, started the trading day at ₹1247.95 on the Bombay Stock Exchange (BSE), reflecting an initial decrease of more than 3%. As the trading day progressed, the share price experienced a further decline, reaching an intraday low of ₹1203.60, marking a notable dip from the opening value.
Jan 24, 2025, 10:22 am IST
Budget 2025 Halwa Ceremony
Finance Minister Nirmala Sitharaman is likely to perform the traditional old Halwa ceremony for Budget 2025, which will mark the final stage of the Budget preparation. The ceremony is going to be held on Friday, January 24, in the North Block. This will be Sitharaman's eighth halwa ceremony since becoming finance minister.
Jan 24, 2025, 9:56 am IST
Sensex, Nifty Volatile
Broad-based selling was seen across indices with India's volatility index surging by 3% to hit an intraday high of 17.23. Media, pharma, PSU bank, healthcare and consumer durable stocks were top laggards. Sensex and Nifty 50 opened higher before correcting.
Jan 24, 2025, 9:18 am IST
Rupee Sideways Against US Dollar
Indian rupee traded at 86.3 per dollar in the opening bell of January 24 on forex market. This is compared to 86.45 closing price on January 23. As per Trading Economics, Indian rupee held near the record low of 86.6 per USD mark in January as slower growth increased calls for softer monetary policy by the RBI, accelerating capital outflows and pressured the sustainability of the central bank’s crawling peg. Evidence of a sharp slowdown to India’s economic growth reversed the previous consensus that it would outperform major emerging economies, driving investors to close positions on Indian capital markets and pivot to competing Asian assets.
Jan 24, 2025, 8:57 am IST
Nifty May Linger Around 23,150
Anand James, Chief Market Strategist, Geojit Financial Services: The two days of consecutive upsides failed to gain momentum is suggestive that a range breakout might take longer to evolve. So, while we brace for more swings within the 23000-23400 region, positivity may linger as long as above 23155. Such positivity could however wane once 23300 is crossed, but may resurface on push above 23440. Alternatively, a slippage past 23155 may let bears dominate, though a free fall may be restricted by 23050-22980 supports for now.
Jan 24, 2025, 8:56 am IST
Market Outlook Uncertain
Prashanth Tapse, Senior VP (Research), Mehta Equities: Nifty may face a volatile session today, with a strong chance of closing below the psychological 23000 mark as uncertainty around President Donald Trump’s tariff plans persists. Technically, Nifty is trading well below its 200-day moving average of 23982, and a bearish pattern continues to emerge on the daily charts. Major headwinds include record outflows from Foreign Institutional Investors, amounting to Rs. 66,321.70 crores this January, and ongoing tariff threats. Key upcoming events, like the FOMC meeting and the Union Budget, could influence market direction. Among stocks, UltraTech Cement surged 7% despite a 17% profit decline, while KEI Industries reported strong earnings. Also, watch out for Q3 results from JSW Steel, DLF, and Indigo today.
Jan 24, 2025, 8:04 am IST
Bank Nifty Support And Resistance For Jan-24
Bank Outlook: Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher predicts support at 48,200 for Bank Nifty and resistance around 49,200.
Jan 24, 2025, 8:03 am IST
Nifty Support And Resistance For Jan-24
Nifty Outlook: Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty to find support and resistance at 23,000 and 23,400 respectively on January 24.
Jan 24, 2025, 8:02 am IST
Stocks In Focus
Companies like Shriram Finance, Laurus Labs, Torrent Pharma, Suven, Trident, JSW Steel, Jindal Saw, DLF, and AU Small Finance Bank will be in focus due to their Q3 results announcement.
Jan 24, 2025, 8:01 am IST
Market Performance Yesterday
Sensex closed at 76,520.38, up by 115.39 points or 0.15%, while Nifty 50 surged by 50 points or 0.22% to finish at 23,205.35 on Thursday, January 23. Bank Nifty, however, had dipped by over 135 points to close at 48,589. Broad-based buying was seen across indices in the session.
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