Indian stock markets were cautious in trade as the benchmark index ended at INR 76,619 a few points lower in the range. Seller momentum pervaded many sectors, with perceivable pockets of resilience.
Nifty 50 was less by 51 points to stay on INR 23,203. The downfall was mainly pulled by Infosys, with a more than 5.7% loss, and then came Axis Bank, which fell more than 4%. Shriram Finance also followed the trend by coming down by over 3%, and Kotak Bank, Wipro, Mahindra and Mahindra, and ICICI Bank, down by some percentages, added to the down direction. On the contrary, buying took place in BPCL, accelerating it up by more than 2%, while Reliance Industries also soared by over 2%. Other gainers were Coal India, Hindalco, Nestlé India, and BEL, which curbed the overall fall.
Nifty banking closed at INR 48,540 mark, falling more than 1.5%. The rest of the banking sector stood as a major loose corner, with most of the standouts-releasing downwards pressure-on some heavyweights like IndusInd Bank, State Bank of India, Bank of Baroda, AU Small Finance Bank, HDFC Bank, and Federal Bank.
The Nifty Next 50 was the only show of a little greater resilience, hit by the index of INR 65,053, slightly higher. The lift for this category is the consistent gain from HAL, which climbed more than 5%, and the share of Lodha Group, which is by more than 4%. Other gainers were likely Godrej Consumer Products, ABB, Siemens, and Zomato stocks; however, most of the pressure came from fallers like VBL and Adani Power, both down by more than 2%, with Cholamandalam Investment, LTIMindtree, Bajaj Holdings, and Union Bank.
The BSE 200 closed at INR 10,639, down marginally. Infosys was the biggest laggard, losing more than 5%, while Policybazaar lost more than 4%. Axis Bank, Shriram Finance, VBL, and Adani Power were some of the other contributors to the downtrend.
The markets were mostly low today, with the Sensex as well as broad indices plagued by selling pressure. Some positive vibes emerged from the energy sector as petrol stocks were seen going northward, led by the BPCL and Reliance Industries. IT and banking sectors were quite resistive today with key factors like Infosys and top banks acting counters. Among these factors, the mid-cap and consumer goods partially provided some comfort for the cautious buyers this morning.
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Also read: CEAT Reports ₹3,299.9 Crore Revenue in Q3 FY25 Despite Margin Pressures
Published on: January 16, 2025 at 8.45 PM GMT.
Indian Rupee:
The Indian rupee finished weak on the week. That marked so far the worst performance since 18 months, when continuous foreign portfolio outflows coupled with increased dollar bids in the non-deliverable forward, or NDF, market pulled the currency to the all-time low of 86.6475 reached earlier in the week before being partly helped by intervention of the Reserve Bank of India.
As stated in Bhagavad Gita : (Bhagavad Gita 5.18)
विद्या विनय सम्पन्ने ब्रह्मणि गवि हस्तिनि।
In the presence of knowledge, the learned see all beings equally, whether they are a learned Brahmin, a cow, an elephant, or a dog.
18th January is celebrated as National Winnie the Pooh Day!
