SHARE MARKET UPDATE - January 16, 2025
Benchmark indices continued their positive performance, marking the third consecutive session of gains. The markets remained upbeat due to positive global cues, with 33 out of 50 NIFTY stocks closing in the green.
Despite the positive market sentiment, the UK economy showed weaker-than-expected growth for November, growing only by 0.1% month-on-month, falling short of forecasts.
Among the sectoral indices-
The Metal sector (+1.70%) and the Banking sector (+1.08%) were the top gainers.
In contrast, FMCG (-0.56%) and IT (-0.49%) saw losses.
Stock and Index Performance
Index | Closing Price | Change | Change (%) |
NIFTY50 | 23,311 | +98 | +0.42% |
SENSEX | 77,042 | +318 | +0.42% |
Sectoral Performance
• Metal Sector: Showed a strong performance with a 1.70% rise.
• Banking Sector: Also saw positive movement, rising by 1.08%.
• FMCG Sector: Declined by 0.56%, with weaker performance in this space.
• IT Sector: Ended in the red, with a 0.49% loss.
Stock Performance: What’s UP
• HDFC Life: The stock surged by 7.9%, closing at ₹641, following a strong quarterly performance.
• BEL: Gained 3.6%, closing at ₹277, reflecting positive investor sentiment.
• SBI Life: Ended with a 2.8% rise at ₹1,515, showing strong performance in the insurance sector.
Stock Performance: What’s DOWN
• Trent: Dropped by 2.5%, closing at ₹6,230.
• Dr. Reddy’s Lab: Fell by 2.2%, ending the session at ₹1,307.
• HCLTech: Declined by 1.9%, closing at ₹1,790, amid broader market concerns in the IT sector.
Market Sentiment
• India VIX: Increased by 1.36%, indicating slightly higher volatility in the market, closing at 15.46.
• NIFTY MIDCAP 100: Rose by 1.09%, closing at 54,483.
• NIFTY SMALLCAP 100: Gained 1.67%, closing at 17,643.
• USD-INR: Ended at ₹86.57, appreciating by 0.22%.
Stock Buzz
• Reliance Industries: Reported a 7.3% YoY rise in net profit, with a significant increase in Jio’s revenue. The stock rose by 1.82% to ₹1,275.
• Axis Bank: Despite a 4% YoY rise in net profit, it posted a drop in sequential growth. The stock rose by 1.68% to ₹1,044.
• Adani Group Stocks: Experienced a rally, including Adani Power and Adani Enterprises, driven by the closure of Hindenburg Research. Adani Enterprises saw a 1.88% increase, closing at ₹2,433.
• LTIMindtree: Despite a drop in profit, the company reported a strong order inflow of $1.68 billion, and the stock rose 2.57% to ₹5,987.60.
• HDFC Life: Shares surged by nearly 8%, after a strong Q3 result, closing at ₹641.70.
IPO Corner
The Stallion India IPO opened for subscription on January 16, 2025. It has seen a strong response, with an overall subscription of 7.15 times on the first day. The IPO will close on January 20, 2025.
Conclusion
The share market is a powerful tool for wealth creation, but it requires knowledge, patience, and discipline. By understanding the basics, staying updated on market trends, and avoiding common pitfalls, you can navigate the market confidently.
Disclaimer: Investing in the stock market carries risks. Please consult a financial advisor before making investment decisions.
