As per provisional closing, the barometer index, the S&P BSE Sensex, declined 528.28 points or 0.68% to 77,620.21. The Nifty 50 index tumbled 162.45 points or 0.69% to 23,526.50.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.96% and the S&P BSE Small-Cap index fell 1.17%.
The market breadth was weak. On the BSE, 1,214 shares rose and 2,742 shares fell. A total of 111 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.33% to 14.66.
Buzzing Index:
Also Read
 "Hardeep Singh Nijjar, Hardeep Nijjar")
 "Swiggy")
 "Eric Garcetti, Eric, Garcetti")
 "India squad announcement")
 "Wildfires, Wild fire, fires, California, Los Angeles")
The Nifty Realty index slipped 2.73% to 990.70. The index fell 0.91% in two consecutive trading sessions.
Sobha (down 3.9%), Macrotech Developers (down 2.99%), Prestige Estates Projects (down 2.97%), Phoenix Mills (down 2.67%), DLF (down 2.57%), Godrej Properties (down 2.51%), Brigade Enterprises (down 2.21%), Oberoi Realty (down 1.73%), Mahindra Lifespace Developers (down 1.57%) and Raymond (down 1.28%) declined.
IPO Update:
The initial public offer (IPO) of Quadrant Future Tek received bids for 1,03,47,99,750 shares as against 57,99,999 shares on offer, according to stock exchange data at 15:36 IST on 9 January 2025. The issue was subscribed to 178.41 times.
The issue opened for bidding on 7 January 2025, and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 275 and Rs 290 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.
The initial public offer (IPO) of Capital Infra Trust received bids for 4,84,01,700 shares as against 8,83,83,750 shares on offer, according to stock exchange data at 15:31 IST on 9 January 2025. The issue was subscribed to 0.55 times.
The issue opened for bidding on 7 January 2025, and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 99 and Rs 100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.
Stocks in Spotlight:
Tata Motors declined 1.62%. The company said that its wholly owned subsidiary, Jaguar Land Rover (UK) reported 3% increase in wholesale volumes to 104,427 units in Q3 FY25 as compared with 101,043 units in Q3 FY24.
Mahindra & Mahindra rose 1.40% after a foreign broker maintained its 'overweight' rating on the stock with a target price of Rs 3336.
OK Play India advanced 4.85% after the company said that its board of directors is scheduled to meet on 14 January 2025 to approve the proposal for raising funds by way of the issue of one or more instruments.
Anand Rathi Wealth rallied 2.39% after the companys board scheduled a meeting on 13 January 2025 to consider a proposal of a bonus issue.
Richa Info Systems hit an upper circuit of 5% after the company announced that it has signed a supply and services agreement with Roopyaa Tradebizz for Rs 100 crore.
Borosil Renewables hit an upper circuit of 5% after the company announced plans to expand its solar glass manufacturing capacity by 50% of its present capacity in manufacturing of solar glass.
PNG Jewellers fell 1.12%. The company announced that it has witnessed a consolidated YoY growth of around 24% in Q3 FY25, driven by a strong increase in same store sales growth, festive demand in Dussehra, Diwali, and the wedding season.
Keystone Realtors shed 1.13%. The company said that it had recorded 40% growth in its pre-sales to Rs 863 crore in Q3 FY25 from Rs 616 crore in Q3 FY24. The area sold during the period under review aggregated to 0.41 million square feet, which is higher by 10% as compared with the area of 0.37 million square feet sold in the same period last year.
Manappuram Finance shed 0.53% after the Reserve Bank of India lifted the restrictions imposed on Asirvad Micro Finance with respect to sanction or disbursal of loans with immediate effect.
Ajmera Realty & Infra India tumbled 1.10%. The infrastructure company registered collections of Rs 167 crore in Q3 FY25, up by 10% from Rs 151 crore recorded in Q3 FY24.
Global Markets:
Most European stocks advanced while the Asian market tumbled on Thursday. Investors awaited the inflation outlook in the U.S., Asia, and Europe due this week, with markets grappling with concerns about persistent inflationary pressures.
The Wall Street traders remained cautious ahead of Friday's crucial jobs report, which will provide further insights into the state of the US labor market.
US markets are closed today for a national day of mourning to honor the passing of former President Jimmy Carter.
Wall Street indexes moved in a tight range on Wednesday after marking a weak start to 2025.
The S&P 500 rose 0.1% to 5,917.30 points on Wednesday, while the NASDAQ Composite fell 0.1% to 19,475.93 points. The Dow Jones Industrial Average rose 0.3% to 42,635.20 points.
Technology stocks weighed on Wall Street sentiment as investors booked profits after a strong 2024 performance. Market participants are now keenly awaiting the start of the fourth-quarter earnings season next week, with major banks set to release their results.
The minutes of the Federal Reserve's December meeting revealed that policymakers are increasingly inclined towards a slower pace of interest rate cuts this year, citing concerns about persistent inflationary pressures.
The minutes reiterated the central bank's hawkish stance, confirming a reduction in the projected number of rate cuts for 2025 from four to two. Some Fed officials expressed concerns that protectionist policies implemented under the Trump administration could continue to fuel inflation and hinder economic growth. The minutes highlighted the potential impact of "changes in trade and immigration policy" on the inflation outlook, suggesting that the fight against inflation may be more prolonged than initially anticipated.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
