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Barring FMCG all the other sectroal indices on the NSE were traded in red with consumer durables and Realty shares witnessing steepest decline.
At 13:25 IST, the barometer index, the S&P BSE Sensex, dropped 591.24 points or 0.77% to 76,489.11. The Nifty 50 index lost 146.20 points or 0.63% to 23,198.55.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.53% and the S&P BSE Small-Cap index declined 1.57%.
The market breadth was weak. On the BSE, 1,280 shares rose and 2,568 shares fell. A total of 150 shares were unchanged.
Gainers & Losers:
Apollo Hospital Enterprise (up 3.05%), Ultratech Cement (up 2.02%), Bharat Petroleum Corporation (BPCL) (up 1.57%), Tata Consumer Products (up 1.56%) and HCL Technologies (up 1.04%) were the major Nifty gainers.
Trent (down 4.71%), Adani Ports & Special Economic Zone (APSEZ) (down 2.52%), ICICI Bank (down 2.25%), NTPC (down 2.02%) and Adani Enterprises (down 1.69%) were the major Nifty losers.
Stocks in Spotlight:
Dixon Technologies (India) tumbled 13.08% after the company’s consolidated net profit declined 47.48% to Rs 216.23 crore on 9.37% fall in revenue from operations to Rs 10,453.68 crore in Q3 FY25 over Q2 FY25.
Sunteck Realty advanced 1.62% after the company reported consolidated net profit of Rs 42.52 crore in Q3 FY25 as against net loss of Rs 9.73 crore in Q3 FY24. Revenue from operations stood at Rs 161.76 crore in the December 2024 quarter, registering a growth of 281.06% YoY.
Jammu & Kashmir Bank declined 2.50%. The bank reported 26.23% jump in net profit to Rs 531.51 crore on 12.57% increase in total income to Rs 3,448.40 crore in Q3 FY25 over Q3 FY24.
International Travel House (ITHL) tanked 8.08% after the company’s standalone net profit tumbled 27.49% to Rs 5.38 crore in Q3 FY25 as against Rs 7.42 crore posted in Q3 FY24. Revenue from operations slipped 4.36% year on year (YoY) to Rs 58.27 crore in the quarter ended 31 December 2024.
DEE Development Engineers rallied 5.03% after the firm commissioned 2nd phase of its manufacturing plant in Anjar, Gujarat, enhancing the capacity by 9,000 MT per annum.
Venues remedies jumped 4.86% after the company successfully renewed its European good manufacturing practices (GMP) certification by infarmed, the national health authority of Medicines and Health products in Portugal.
Glenmark Pharmaceuticals added 0.04% after the company’s US-based division Glenmark Pharmaceuticals Inc. announced the launch Phytonadione Injectable Emulsion.
Global Markets:
The US Dow Jones index futures were currently up by 113 points, signalling a positive opening for US stocks today.
Most of the European market declined as trader digested the first executive orders that newly inaugurated U.S. President Donald Trump signed on Monday. Further, investors will be keeping eye on the World Economic Forum this week.
Most Asian shares traded mixed as market attention turned to upcoming central bank meetings in Asia later this week. Malaysia’s central bank is expected to maintain its policy rate at 3% on Wednesday, while the Bank of Japan will hold its next policy meeting from January 23 to 24, with Governor Kazuo Ueda signaling potential interest rate hikes.
President Donald Trump held off on imposing sweeping trade tariffs on his first day in office. Trump resumed his duties in the White House on Monday, a day after his inauguration and during the Martin Luther King, Jr. Day holiday, when U.S. stock market was closed.
Sworn in as the 45th President of the United States on January 20, Trump emphasized his vision of 'America First' in his inaugural address, focusing on economic revitalization, national security, and prioritizing domestic interests over globalization.
Trump began his term with a series of executive orders aimed at fulfilling his campaign promises. These included measures to tighten immigration controls, lay the groundwork for a U.S.-Mexico border wall, boost fossil fuel production, and scale back environmental regulations.
While he declared plans to address global trade practices, Trump opted not to impose new tariffs on the U.S.'s largest trading partners, signaling a more deliberate approach to trade relations. Instead, he directed his administration to combat unfair trade globally.
Investors closely monitored these early actions, given Trump’s promises to rapidly implement his agenda.
At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 419.44 points or 0.52% to 80,444.69. The Nifty 50 index rose 128.75 points or 0.53% to 24,323.25.
In the broader market, the S&P BSE Mid-Cap index rose 0.26% and the S&P BSE Small-Cap index added 0.91%.
The market breadth was strong. On the BSE, 2,447 shares rose and 1,326 shares fell. A total of 161 shares were unchanged.
Adani Enterprises (up 10%), Adani Ports and Special Economic Zone (SEZ) (up 7.77%), Trent (up 2.94%), Bharat Electronics (BEL) (up2.84%) and NTPC (up 2.56%) were the major Nifty gainers.
Apollo Hospital Enterprise (up 1.37%), Shriram Finance (up 0.37%), Titan Company (up 0.68%), Asian Paints (up 0.64%), Britannia Industries (up 0.60%) were major Nifty losers.
NTPC added 2.56% after the company announced the incorporation of a joint venture company between NTPC Green Energy (NGEL) and Maharashtra State Power Generation Company (MAHAGENCO).
MAHAGENCO NTPC Green Energy (MNGEPL) has been incorporated as 50:50 joint venture between NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, and Maharashtra State Power Generation Company (MAHAGENCO), a Government of Maharashtra (GOM) owned company.
Bajaj Steel Industries shed 0.05%. The company said that it has successfully commenced commercial operation at its new plant at Nagpur for pre-engineered/pre-fabricated steel buildings (infrastructure division).
Sky Gold locked lower circuit of 5%. The company informed that its board approved the issuance of bonus equity shares in the proportion of 9:1 i.e., 9 bonus equity shares for every 1 existing equity share held.
Rail Vikas Nigam (RVNL) advanced 1.24% after the company received a letter of acceptance (LoA) for an Engineering, Procurement and Construction (EPC) contract worth Rs 625.08 crore from South Central Railway.
Zaggle Prepaid Ocean Services hit an upper circuit of 5% after the company has entered into an agreement with Mastercard Technology (MasterCard) for 7 years.
CG Power and Industrial Solutions rallied 3.63% after the company’s subsidiary G.G.Tronics India (GGT) secured a KAVACH order from Chittaranjan Locomotive Works, West Bengal, Government of India
Talbros Automotive Components zoomed 11.98% after the company, along with its JV’s, received orders worth Rs 475 crore for both domestic and exports market from the leading OEM’s. These orders are to be executed over the period of next 5 years. These orders include orders from all the company’s product lines like gaskets, heat shields, forging components, chassis and hoses.
Global Market:
Most of the European market decline while Asian stocks traded mixed on Wednesday amid lingering concerns over Donald Trump’s tariff plans, which had rattled emerging markets in the previous session. Speculation about the role tariffs would play in the president-elect's economic agenda intensified as reports surfaced that Jamieson Greer, a protégé of Robert Lighthizer, was being considered for US Trade Representative. This selection underscores the administration’s focus on protectionist trade policies.
In Australia, the consumer price index (CPI) inflation grew by 2.1% year-on-year in October, falling short of expectations due to government subsidies that helped reduce energy costs. However, core inflation, represented by the annual trimmed mean inflation, rose to 3.5% in October from 3.2% the previous month, pushing further above the Reserve Bank’s target range.
US stocks advanced on Tuesday, as strength in technology shares counterbalanced worries about potential tariff escalations under Donald Trump’s administration. The S&P 500 climbed 0.57%, the Dow Jones Industrial Average rose 0.28%, and the NASDAQ Composite gained 0.63%.
Among the Magnificent Seven tech stocks, five closed higher, led by Amazon.com Inc., which surged over 3%. The rally followed reports from Bloomberg that Amazon plans to reduce its reliance on NVIDIA Corporation by developing its own custom artificial intelligence chips.
Investors also weighed mixed signals on U.S. interest rates. Minutes from the Federal Reserve’s November meeting revealed a split among policymakers regarding the path of future rate cuts. They highlighted uncertainty about the 'neutral rate,' a level that neither stimulates nor restricts economic growth, as a key factor for their cautious stance.