January 7, 2025
New Delhi, India
Stock Market Today
Indian equity markets ended on a positive note on January 7, 2025, with the Sensex rising 234.12 points to close at 78,199.11, and the Nifty advancing 91.85 points to settle at 23,707.90. The recovery followed the market’s worst performance in three months, as gains in banking, energy, and metal stocks provided support.
Market Highlights:
- Top Gainers (Nifty): ONGC, SBI Life Insurance, Tata Motors, HDFC Life, Adani Enterprises.
- Top Losers (Nifty): HCL Tech, TCS, Eicher Motors, Hero MotoCorp, Trent.
- Sectoral Performance:
- All sectors except IT ended in the green.
- Oil & gas, energy, banking, metal, and pharma gained 0.5%-1%.
- IT stocks underperformed, weighing on the broader indices.
- Broader Indices:
- BSE Midcap Index rose 0.7%.
- BSE Smallcap Index surged 1.7%.
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Intraday Movers:
- Titan, Power Grid, IndusInd Bank, Adani Ports, Bajaj Finance, and Tech Mahindra were among the top performers, gaining up to 2%.
- Zomato fell by 4.5%, following a downgrade to a ‘Hold’ rating by global brokerage firm Jefferies. The downgrade cited concerns over intense competition in the quick commerce sector and Zomato’s sharp rise in 2024.
Market Sentiment:
The recovery in equity indices was fueled by optimism ahead of the corporate earnings season, set to kick off later this week. Broader market participation remained robust, with 2,527 shares advancing, 1,286 declining, and 103 remaining unchanged.
Closure:
The markets rebounded strongly, led by sectoral recovery in oil & gas, banking, and energy. However, underperformance in IT stocks and Zomato’s sharp decline weighed on sentiment. Investors now await earnings announcements for further market cues.
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