Tuesday, February 18, 2025 | 10:40 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Markets Today: US Fed outcome; L&T, TaMo Q3; Dr. Agarwal's, CLN Energy IPOs

In the previous session, the Sensex jumped 631.55 points, or 0.83 per cent, to settle at 76,532.96. The Nifty50 also added 205.85 points, or 0.90 per cent, to close at 23,163.10

market, stocks, stock market trading, stock market

Tanmay Tiwary New Delhi

Listen to This Article

Stock Markets Today, January 30, 2025: US Federal Reserve interest rate decision, mixed global cues and Q3 results are likely to influence the benchmark indices, Sensex and Nifty50, today.
 
The Fed held its key interest rate in check Wednesday, reversing a recent trend of easing policy as it examines what is likely to be a bumpy political and economic landscape ahead.
 
In a widely anticipated move, the central bank’s Federal Open Market Committee (FOMC) left unchanged its overnight borrowing rate in a range between 4.25 per cent-4.5 per cent.
 
Back home, at 6:40 AM, GIFT Nifty futures indicated a flat start, down marginally (13 points) at 23,135.
 
 
In the previous session, the Sensex jumped 631.55 points, or 0.83 per cent, to settle at 76,532.96. The Nifty50 also added 205.85 points, or 0.90 per cent, to close at 23,163.10. 
 
Global cues
 
Asia-Pacific markets were trading mixed on Thursday.  The Australian markets saw gains, breaking away from Wall Street's decline after the Fed decided to keep interest rates unchanged. Several markets in the region were closed for the Lunar New Year holiday. 
Last checked, ASX 200 was trading 0.4 per cent higher. Meanwhile, Nikkei and Topix dropped 0.17 and 0.2 per cent, respectively.
 
In the US, the major indices dropped following the Fed’s decision to hold interest rates steady. The S&P 500 fell 0.47 per cent, while the Nasdaq lost 0.51 per cent. The Dow Jones decreased 0.31 per cent.
 
Shares of Nvidia dropped 4.1 per cent, reversing a strong performance from the previous session. The stock hit session lows after Bloomberg News reported that U.S. officials discussed restricting Nvidia's chip sales to China, amid concerns over competition from China's DeepSeek AI model.
 
In other news, the US trade deficit in goods hit a record high in December, surging 18 per cent to $122.1 billion. This widening was attributed to businesses stockpiling imports in anticipation of tariffs from the Trump administration. Goods imports increased by 3.9 per cent, while exports dropped 4.5 per cent.
 
Market attention is now turning to upcoming data on US jobless claims, Q4 GDP growth, and the Q4 Core PCE price index. Additionally, the European Central Bank's interest rate decision will also be on the radar.
 
Domestic cues
 
Due to a lack of domestic triggers, investors are expected to stay focused on Budget expectations and Q3 earnings. They are awaiting results from key companies such as L&T, Adani Ports, Adani Enterprises, and Bajaj Finserv, among others.
 
In addition, market participants will be reacting to the Q3 earnings of companies like Tata Motors, Bajaj Finance, and Voltas.
 
Also, the smallcap funds are increasingly venturing into the 'microcap' space, benefiting from a major surge in their assets and improved liquidity in stocks beyond the top 500.
 
Meanwhile, employment in the unincorporated manufacturing sector remained below the levels seen in 2020-21 during the October-September period of 2023-24. This was revealed through an analysis of the latest Annual Survey of Unincorporated Sector Enterprises data, which was released on Wednesday alongside the 67th National Sample Survey round conducted in 2010-11 by the National Statistics Office (NSO).  Also Read: 'States/UTs expected to pre-publish draft rules under labour codes by Mar'
 
Other market triggers
 
FII, DII
 
FIIs sold shares worth Rs 2,586.43 crore on January 29, while DIIs bought shares worth 1,792.71 crore.
 
IPO market
 
Dr. Agarwal's Health Care IPO (Mainline) and Malpani Pipes And Fittings IPO (SME) will enter Day 2 of their subscription.
   
CLN Energy IPO (SME) will list on the bourses.
 
Commodity market 
 
Gold prices dropped on Wednesday as the dollar and bond yields rose following the Federal Reserve’s decision to keep interest rates unchanged, offering little clarity on future rate cuts. Spot gold fell 0.4 per cent to $2,753.86, while US gold futures edged up 0.1 per cent to $2,779.80.
 
Oil prices also declined, with US crude hitting its lowest price of the year after a surprise rise in domestic crude stockpiles. Brent crude fell 1.2 per cent to $76.58 per barrel, and US crude dropped 1.6 per cent to $72.62.
 
Here's how analysts are assessing today's (January 30) trading session:
 
Shrikant Chouhan, head of equity research at Kotak Securities
 
We believe that if the market stays above 23000/76000, the pullback formation is likely to continue, and on the upside, the market could bounce back to the 20-day SMA (Simple Moving Average) at 23350/77000 and 23400/77200. However, if it falls below 23000/76000, the sentiment could change. In that case, traders may prefer to exit their long positions.
 
Rupak De, senior technical analyst at LKP Securities
 
On the lower end, 23,000 is likely to act as immediate support, and a fall below this level might trigger panic in the market. However, above 23,200, the Nifty could gather more strength.
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 30 2025 | 6:57 AM IST

Explore News