Indian markets were not easy today. The Sensex closed at 75,838, down over 1.6%. Sellers were in charge, and most sectors had all-round weakness.
Nifty 50 ended at 23,024: The index went down sharply in the last few sessions. A downward drift was witnessed today as well on the back of a fall in Trent by over 6% and NTPC and Adani Ports declining by over 3%. Others who pulled it lower were ICICI Bank, Adani Enterprises, State Bank of India, Mahindra & Mahindra, BEL, and SBI Life, which all fell over 2%.
The Nifty Bank ended at 48,619. It was weak. The banking index was impacted as HDFC Bank, IDFC First Bank, Punjab National Bank, Federal Bank, Bank of Baroda, IndusInd Bank, Kotak Mahindra Bank, Canara Bank, and Axis Bank all witnessed selling pressure that dragged the index down.
Nifty Next 50 ended at 63,438 with a decline of more than 2%. Zomato lost more than 10% while Jio Financial Services lost more than 5%. Apart from that, Lodha, Naukri, BHEL, JSW Energy, ABB, Siemens, and HAL also declined more than 3% and dragged the index.
BSE 200 ended at 10,518 with a loss in line with the sell-off. Dixon Technology was the biggest laggard by quite some distance at around 13% followed by Zomato at more than 10%. Oberoi Realty lost close to over 7%, besides Trent and Policybazaar, each falling over 5%. However, select stocks like Hindustan Petroleum, Fluorochem, and Apollo Hospitals rose by more than 2%, giving minor relief under an overall bearish sentiment.
The market sentiment was predominantly bearish today with indices reflecting sharp downward pressure. The key sectors like banking, real estate, and IT are under stress. While stocks like Hindustan Petroleum and Apollo Hospitals were positives, the overall market failed to sustain momentum. Stocks like Zomato and Dixon Technology witnessed a steep fall, which clearly reflected the selling intensity, and left the market subdued.
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Published on: January 21, 2025 at 10.00 PM GMT.
India to Increase U.S. Oil and Gas Imports:
India will Buy More U.S. Oil, Gas: After U.S. President Donald Trump declared plans to extract more American oil and gas, India is likely to step up its acquisitions of U.S. energy. Indian Oil Minister Hardeep Singh Puri said extra U.S. energy into the market would be helpful. India is being hit by global price spikes for oil and is also reeling from U.S. sanctions imposed on Russian oil companies.
As stated in Bhagavad Gita : (Bhagavad Gita 18.78)
यत्र योगेश्वरः कृष्णो यत्र पार्थो धनुर्धरः।
Wherever there is Lord Krishna, the master of yoga, and Arjuna, the supreme archer, there also is victory.
22th January is celebrated Cat’s Questions Day!
