January 9, 2025
New Delhi, India
Stock Market Today
The Indian equity markets ended Thursday’s trading session deep in the red as concerns over corporate earnings and fewer anticipated U.S. rate cuts weighed on sentiment. The BSE Sensex dropped 528.28 points (0.68%) to settle at 77,620.21, while the NSE Nifty 50 fell 162.45 points (0.69%) to close at 23,526.50.
Key Highlights:
- Market Performance:
- The Sensex traded between a high of 78,206.21 and a low of 77,542.92 during the session.
- The Nifty 50 recorded a day’s high of 23,689.50 and a low of 23,503.05, with 34 of its 50 constituents ending in the red.
- Top Losers:
- Sensex: NTPC, TCS, Adani Ports, HDFC Bank, Tata Steel, and Tata Motors led the declines, with losses extending up to 2%.
- Nifty: Shriram Finance, ONGC, Coal India, BPCL, and Tata Steel were the biggest laggards, shedding up to 2.59%.
- Top Gainers:
- On the Nifty, Hindustan Unilever, Nestle India, Britannia Industries, Bajaj Auto, and Mahindra & Mahindra provided some respite, with gains up to 2.11%.
Sectoral Insights:
- Weak Sectors:
- IT, financials, metals, PSU banks, and realty saw steep declines, with the Nifty Realty index falling 2.73%.
- Broader market indices, Nifty Smallcap100 and Nifty Midcap100, also slipped 0.93% and 1.35%, respectively.
- FMCG Outperforms:
- FMCG was the sole bright spot, led by gains in Nestle India and Hindustan Unilever.
Factors Driving the Decline:
- Foreign Institutional Investors (FIIs): FIIs sold equities worth ₹3,362 crore, adding to the bearish sentiment.
- Global Concerns: Fluctuating dollar strength and fears of moderating corporate earnings weighed on markets.
- Technical Levels: Market participants are closely watching Nifty’s support level at 23,500 for indications of future market direction.
Outlook:
The Indian markets face significant headwinds as global uncertainties and domestic pressures persist. Investors remain cautious, with upcoming earnings reports and macroeconomic data likely to set the tone for future market trends.
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