Stock Market LIVE: Sensex 50 pts higher at 77,650; IT up 4%; Financials, Auto trim some losses
Markets Today LIVE: Climbing off the day's lows, Indian markets are trading higher with slight gains on Friday, amid muted global cues
 "Stock Market, BSE, NSE, Nifty, Capital")
Share Market Today: Foreign Institutional Investors (FIIs) net sold Indian equities worth Rs 7,170.87 crore on January 9, and domestic institutional investors (DIIs) net bought shares worth Rs 7,639.63 crore on Thursday. (Photo: Shutterstock)
Stock Market LIVE Updates, Friday, January 10, 2025: Indian benchmark equity indices BSE Sensex and Nifty50 were trading with some gains or nearly flat amid volatile trading on Friday.
At 12 PM, the BSE Sensex was higher by 97.73 points, or 0.13 per cent, at 77,717.94, and the Nifty50 was at 23,528.65, marginally ahead by 2.15 points, or 0.01 per cent.
In the afternoon, 12 out of the 30 stocks on the BSE Sensex were trading higher, with gains led by TCS (up 5.97 per cent), followed by Tech Mahindra, Infosys, HCLTech, and Nestle India, while losses were capped by IndusInd Bank (down 3.51 per cent), followed by UltraTech Cement, Sun Pharma, NTPC, and SBI.
On the Nifty50, 15 stocks were trading higher, with gains led by TCS (up 5.77 per cent), followed by Tech Mahindra, Wipro, Infosys, and HCLTech, while losses were capped by Shriram Finance (down 4.12 per cent), followed by IndusInd Bank, Adani Enterprises, UltraTech Cement, and Hindalco Industries.
Across sectors, the Nifty IT index remained the only gainer, climbing 3.55 per cent. That apart, Media index was the top drag, falling 2.22 per cent, followed by PSU Bank, Pharma, Healthcare, Realty, Private Bank, and Metal, all falling over 1 per cent each.
The Nifty Bank, Auto, and Financials Services indices were other notable laggards.
In the broader markets, too, the Nifty Smallcap 100 was behind by 1.65 per cent and the Nifty Midcap 100 was lower by 1.43 per cent.
While inflation, labour market concerns, and a likely higher-for-longer interest rate regime in the US drove Treasury yields higher there during a curtailed trading session on account of former US President Jimmy Carter's funeral ceremony, concerns regarding the UK government's finances also hit gilts, driving bond yields there to sixteen-and-half year highs, and taking the pound sterling towards its biggest three-day drop in nearly two years.
These developments in turn have pressured stocks globally, while clouding the outlook for investors as they await a number of global and domestic events on the horizon, including monthly employement data in the US today, the Federal Reserve's policy setting meeting and President-elect Donald Trump's inaugaration later in the month, along with the Indian central bank's policy setting meeting in February.
Closer home, continued selling by foreign institutional investors (FIIs) has consistently put downward pressure on the markets here, while almost flatlining consumer prices in China makes for further downside risks.
While FIIs net sold Indian equities worth Rs 7,170.87 crore on Thursday, thier actions were counteracted by net buying of shares worth Rs 7,639.63 crore by domestic institutional investors during the trading session..
Meanwhile, investors here searched for a silver lining in companies reporting results from the December 2024 quarter, with the first one off the mark, IT bellwether TCS posting net profit for the third quarter, at Rs 12,380 crore, up 11.9 per cent YoY over Rs 11,058 crore in the same quarter of FY24. In Q3FY24 TCS had a one-time settlement of legal claims of Rs 958 crore. Taking this into consideration, net profit growth year-on-year (Y-o-Y) was 5.5 per cent. READ MORE
In other news, the Indian economy is expected to grow by 6.6 per cent in 2025 and 6.7 per cent in 2026, supported by solid private consumption and investment growth, according to the United Nations (UN) flagship report, World Economic Situation and Prospects 2025, released on Thursday. READ MORE
Separately, before the Budget 2025-26 is presented on February 1, the central government has asked industry associations, legal players and regulatory representatives to suggest ways to further improve the business climate for overseas investors to boost the flow of foreign direct investment (FDI) -- which has been on a decline for the last three years. READ MORE
Elsewhere, the rupee on Thursday slipped to 85.94 against the dollar intraday, a fresh low, before recovering some losses to close the day at 85.86, flat compared to Wednesday’s closing. Due to the heightened hedging activity by foreign investors and robust demand for dollars, three-month non-deliverable forward (NDF) points for the dollar-rupee pair has been trading at its highest since November 2022, according to Bloomberg data. The rupee has been trading with a depreciation bias, hitting new lows over the past few weeks. READ MORE
Moreover, India Ratings on Thursday said that any broad-based or strong recovery in corporate capital expenditure was unlikely in the upcoming financial year 2026 (FY26) due to uncertainty of domestic and external demand. READ MORE
On the positive side of things, the excess earnings of unlisted companies over and above their interest costs are at a record level. The interest-coverage ratio of 2.94 is the highest going back to 1990-91, according to numbers from the Centre for Monitoring Indian Economy (CMIE). The analysis is based on the data on 4,231 unlisted companies for 2023-24 (FY24) — what is available as of December-end. READ MORE
Also, fundraising by Indian corporates through equity and debt reached all-time high in the calendar year 2024, according to primedatabase.com. The overall public equity fundraising stood at Rs 3.7 trillion in 2024, a rise of 159 per cent from Rs 1.4 trillion in 2023. If Rights Issues of Rs 25,973 crore were to be added, the overall equity fundraising would touch nearly Rs 4 trillion in 2024. READ MORE
In another pocket of the markets, equity mutual funds (MFs) capped a strong 2024 with near-record inflows in December. With net inflows of Rs 41,156 crore in December, the 2024 tally surged to Rs 3.9 trillion, up 144 per cent compared to 2023. READ MORE
Elsewhere, Reliance Industries' (RIL’s) core business is expected to once again drag earnings for the oil-to-telecom conglomerate in the third quarter of the current financial year (Q3FY25), said analysts. RIL is slated to declare its financial results for Q3FY25 on January 16. READ MORE
However, as volatility in the capital markets continues to pose a challenge to equity investors, and the possibility of interest rate cuts become more likely, taking a balanced approach to investment through aggressive hybrid schemes of mutual funds may offer a prudent path forward for investors. READ MORE
In another news, two of the six-step measures introduced by the Securities and Exchange Board of India (Sebi) to curb the frenzy in index derivatives will now take effect from February 10, instead of February 1, according to a notice by the National Stock Exchange (NSE).
The upfront collection of option premiums and the removal of calendar spread treatment on the expiry day will come into effect from February 10. Three other measures are already in place and have led to a significant decline in the total volumes of futures and options trades.
These include one weekly contract per exchange, Extreme Loss Margin (ELM), and higher contract size.
In the primary markets, meanwhile, Quadrant Future Tek IPO (Mainline), Capital Infra Trust IPO (Mainline), Avax Apparels IPO (SME), Delta Autocorp IPO (SME) and BR Goyal IPO (SME) will see their allotment, and Barflex Polyfilms IPO (SME) and Sat Kartar IPO (SME) will open for subscription.
In the previous trading session, benchmark equity indices BSE Sensex and Nifty50 had settled in the negative territory on Thursday. The Sensex shed as much as 528.28 points or 0.68 per cent to settle at 77,620.21, while the Nifty50 ended lower by 162.45 points or 0.69 per cent at 23,526.50.
Broader markets also mirrored the benchmarks as the Nifty Smallcap100 and Nifty Midcap100 indices ended down by 0.93 per cent, and 1.35 per cent, respectively. All sectors ended in the red, barring the Nifty FMCG index. Among others, IT, PSU Bank index, financial services, consumer durables, and OMCs ended down by over 1 per cent each. Meanwhile, the Nifty Realty index ended lower by 2.73 per cent.
Meanwhile, on Friday, markets in the Asia-Pacific were mixed as investors assessed the November pay and household spending data out of Japan.
Real household spending in Japan fell 0.4 per cent year on year in November, a softer fall compared to the 0.6 per cent decline expected by a Reuters poll of economists, and also also less than the 1.3 per cent decline seen in October. Separately, the average real income per household stood at 514,409 yen ($3,252.98) in November, up 0.7 per cent from the previous year.
Japan’s Nikkei 225 fell 0.66 per cent, and the broad-based Topix declined 0.52 per cent.
South Korea’s Kospi fell 0.41 per cent, while the small-cap Kosdaq was down 1.07 per cent.
Australia’s S&P/ASX 200 also slipped 0.64 per cent.
Hong Kong’s Hang Seng index was higher by 0.4 per cent, and the CSI 300 was marginally ahead by 0.03 per cent. The Shanghai Composite was higher by 0.07 per cent.
US Treasury yields retreated from an eight-month high on Thursday while the dollar strengthened against major currencies, as investors reevaluated the Federal Reserve's interest rate policy for 2025 as the US economy shows signs of resilience.
The benchmark 10-year US Treasury yield fell 0.45 basis points to 4.689 per cent. It had hit a peak of 4.73 per cent on Wednesday, the highest since April 2024. The pound headed for its biggest three-day drop in nearly two years.
A selloff in global bonds in recent weeks and worries about Britain's economy has kept the pound under pressure and also has hit gilts especially hard, driving yields to 16-1/2-year highs.
On Friday, the closely watched US monthly payrolls report will provide clues on the Fed's policy outlook. Markets are fully pricing in just one 25-basis-point US rate cut in 2025.
Minutes of the Fed's December policy meeting released on Wednesday showed officials were concerned President-elect Donald Trump's proposed tariffs and immigration policies may prolong the fight against inflation.
A market selloff in Treasuries continued on Wednesday after a CNN report that Trump was considering declaring a national economic emergency to provide a legal justification for a series of universal levies on allies and adversaries.
US stock markets were closed on Thursday to mark the funeral of former US president Jimmy Carter. US bond markets closed early at 1900 GMT.
European shares finished higher after paring early losses. Gains in healthcare and basic materials stocks were partially offset by declines in retailers. The pan-European STOXX 600 closed up 0.42 per cent.
The US dollar index traded just under 109.54, a level it hit last week for the first time since November 2022. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.12 per cent to 109.15, with the euro down 0.18 per cent at $1.0299.
Sterling was last down 0.44 per cent at $1.2307, having touched its lowest since November 2023 earlier in the day.
China's yuan steadied near a 16-month low against the dollar as the nation's central bank announced a record amount of offshore yuan bill sales to support the currency.
Oil prices settled up more than 1 per cent as cold weather gripped parts of the US and Europe, boosting winter fuel demand.
Brent crude futures settled up 1 per cent at $76.92 a barrel. US West Texas Intermediate crude futures settled up 0.82 per cent to $73.92.
Gold prices advanced to a near four-week high, backed by safe-haven demand. Spot gold rose 0.27 per cent to $2,669.38 an ounce, trading near its highest level since mid-December. US gold futures rose 0.77 per cent to $2,685.00 an ounce. (With inputs from Reuters.)
1:27 PM
Stock Market LIVE Updates: Phoenix Mills shares rise 3% on posting Q3 biz update; consumption up 21%
Stock Market LIVE Updates: Phoenix Mills shares gained 2.9 per cent in Friday's trade on BSE, logging an intraday high of Rs 1,684.6 per share. The buying sparked after the company released its Q3 business update. READ MORE
1:24 PM
Stock Market LIVE Updates: Shriram Finance share declines 6% as it trades ex-stock split today
Stock Market LIVE Updates: Shriram Finance share price declined 6 per cent on the stock exchanges on Friday, January 10, 2025. The fall in Shriram Finance shares came as the stock began trading ex-date for stock split today. READ MORE
1:19 PM
Stock Market LIVE Updates: JSW Steel consolidated crude steel production rises 2.3% to 7 MT in Q3
Stock Market LIVE Updates: Sajjan Jindal-led JSW Steel on Friday said its consolidated crude steel production rose by 2.3 per cent to 7.03 million tonnes (MT) in the third quarter of the current fiscal. The company's steel output was 6.87 MT in the year-ago period, JSW Steel said in a filing to BSE. READ MORE
1:09 PM
Stock Market LIVE Updates: BSE Smallcap index tanks over 6% in one week; 87 stocks hit 52-week lows
Stock Market LIVE Updates: Shares of smallcap companies are under pressure, with the BSE SmallCap index falling nearly 3 per cent in Friday’s intra-day trade on concerns of softening economic growth and selling pressure from Foreign Institutional Investors (FIIs). READ MORE
1:04 PM
Stock Market LIVE Updates: Here's why foreign brokerages see up to 36% upside in RIL; Q3 nos on Jan 16
Stock Market LIVE Updates: Reliance Industries (RIL) stock has been in focus given the significant underperformance of the index heavyweight over the last six months. RIL had tumbled over 25 per cent from its peak of Rs 1,617 in July to a low of Rs 1,201. In comparison, the BSE and NSE benchmark indices declined around 6 per cent in the same period. READ MORE
12:57 PM
Stock Market LIVE Updates: Senco Gold shares decline 6% after posting Q3 update; check details here
Stock Market LIVE Updates: Senco Gold shares declined 6.4 per cent in Friday's trade on BSE, logging an intraday low of Rs 1,054 per share. The stock was under selling pressure after the company released its Q3 update. READ MORE
12:49 PM
The company added that the second part of the 50 MW out of the 220 MW Shajapur Solar Project (Unit II), at Shajapur, MP, of its subsidiary, NTPC Renewable Energy has also been declared as commercially operational.
Stock Market LIVE Updates: NTPC Green's 2nd part of Bhainsara & Shajapur projects get commercial operation nod
Stock Market LIVE Updates: NTPC Green Energy today informed that based on a certificate issued by the Solar Energy Corporation of India, the second part capacity of the 60 MW out of the 320 MW Bhainsara Solar PV Project of its subsidiary, NTPC Renewable Energy, has been declared as commercially operational from January 7, 2025.
The company added that the second part of the 50 MW out of the 220 MW Shajapur Solar Project (Unit II), at Shajapur, MP, of its subsidiary, NTPC Renewable Energy has also been declared as commercially operational.
12:43 PM
GTPL Hathway, a digital cable TV and broadband service provider, reported a 57.2 per cent year-on-year (Y-o-Y) decline in net profit for the third quarter ending December 31, 2024. The company posted a net profit of Rs 10.1 crore, down from Rs 23.6 crore in the same period last year, according to a regulatory filing. However, the company’s revenue from operations rose by 4.3 per cent, reaching Rs 887.2 crore compared to Rs 850.8 crore in the corresponding quarter of the previous fiscal year. READ MORE
Stock Market LIVE Updates: Why GTPL Hathway shares plunged 10% after Q3FY25 results; know here
Stock Market LIVE Updates: Investors dumped the shares of GTPL Hathway in loads on Friday after the company reported a sluggish third quarter earnings for the financial year 2024-25 (Q3FY25). GTPL Hathway share price plunged 9.85 per cent at Rs 132.65 per share on the BSE in intraday trade.
GTPL Hathway, a digital cable TV and broadband service provider, reported a 57.2 per cent year-on-year (Y-o-Y) decline in net profit for the third quarter ending December 31, 2024. The company posted a net profit of Rs 10.1 crore, down from Rs 23.6 crore in the same period last year, according to a regulatory filing. However, the company’s revenue from operations rose by 4.3 per cent, reaching Rs 887.2 crore compared to Rs 850.8 crore in the corresponding quarter of the previous fiscal year. READ MORE
12:37 PM
Stock Market LIVE Updates: Sectoral funds rule the roost in December 2024 but are they worth the risk?
Stock Market LIVE Updates: Sector or thematic funds continued to rule the roost in December 2024 as these mutual funds garnered net assets worth Rs 15,332 crore during the month, as per data released by AMFI However, this also includes Rs 11,337 crore garnered by 12 new sector or thematic funds launched in December.
Thematic funds in India are a type of mutual fund that invests in specific sectors, themes, or trends rather than following a broad market index. These funds focus on particular themes such as technology, healthcare, infrastructure, or consumption, aiming to capitalize on growth potential in those areas. Sector and thematic funds allocate at least 80 per cent of their portfolios to stocks within a specific sector or theme. While thematic funds are usually more diversified than sector funds, they, too, are more concentrated than diversified equity funds. READ MORE
12:36 PM
Overall, investors appear to view the incoming administration favorably for the sector, as the NSE Nifty IT Index has outperformed the broader market since the election. The president-elect’s promised tax cuts may result in businesses boosting technology expenditure. On the other hand, “America First” policies may discourage outsourcing, which the Indian companies depend on. READ MORE
Stock Market LIVE Updates: Infosys, HCL set to address business outlook under Donald Trump presidency
Stock Market LIVE Updates: Shares of Indian IT outsourcing giants Infosys Ltd., HCL Technologies Ltd. and Wipro Ltd. got a boost from Donald Trump’s US election win. They will get a chance to comment on how his presidency might affect their businesses when they post earnings.
Overall, investors appear to view the incoming administration favorably for the sector, as the NSE Nifty IT Index has outperformed the broader market since the election. The president-elect’s promised tax cuts may result in businesses boosting technology expenditure. On the other hand, “America First” policies may discourage outsourcing, which the Indian companies depend on. READ MORE
12:35 PM
Buch said in the past nine months of the current fiscal, entities have mobilised Rs 3.3 trillion in equity and Rs 7.3 trillion from the debt markets, with the overall mop-up reaching Rs 10.7 trillion. READ MORE
Stock Market LIVE Updates: Fund raising from capital markets to jump 21% to Rs 14.27 trn in FY25: Buch
Stock Market LIVE Updates: Overall fundraising from capital markets, including through equity and debt instruments, is estimated to jump by nearly 21 per cent to Rs 14.27 trillion in FY25 from the Rs 11.8 trillion in FY24, Sebi chief Madhabi Puri Buch said on Friday.
Buch said in the past nine months of the current fiscal, entities have mobilised Rs 3.3 trillion in equity and Rs 7.3 trillion from the debt markets, with the overall mop-up reaching Rs 10.7 trillion. READ MORE
12:30 PM
The company’s net profit climbed about 27 per cent year-on-year to Rs 425.4 crore in the December quarter of financial year 2025 (Q3FY25), from Rs 335.5 crore in the same quarter a year ago (Q3FY24). READ MORE
Stock Market LIVE Updates: Why did IREDA shares fail to hold gains after Q3 results? Details here
Stock Market LIVE Updates: State-owned Indian Renewable Energy Development Agency (IREDA) share was in demand on Friday, January 10, 2025, as the scrip soared as much as 3.17 per cent to hit an intraday high of Rs 222.75 per share on the back of healthy profit and net interest income (NII).
The company’s net profit climbed about 27 per cent year-on-year to Rs 425.4 crore in the December quarter of financial year 2025 (Q3FY25), from Rs 335.5 crore in the same quarter a year ago (Q3FY24). READ MORE
12:21 PM
The company, in an excange filing, said, "As per the communication received from GAIL (India) Limited (the nodal agency for domestic gas allocation), this is to inform that the domestic gas allocations to IRM Energy Limited have been revised upwards by 29% with effect from January 16, 2025, thus increasing the share of Domestic Gas in CNG Segment from 37% to 51%".
Stock Market LIVE Updates: IRM Energy's domestic gas allocation raised 29% by GAIL (India) from Jan 16
Stock Market LIVE Updates: IRM Energy today informed that it has received communication from GAIL (India), the nodal agency for domestic gas allocation, informing it about the upward revision to its gas allocation by 29 per cent, effective from January 16, 2025.
The company, in an excange filing, said, "As per the communication received from GAIL (India) Limited (the nodal agency for domestic gas allocation), this is to inform that the domestic gas allocations to IRM Energy Limited have been revised upwards by 29% with effect from January 16, 2025, thus increasing the share of Domestic Gas in CNG Segment from 37% to 51%".
12:14 PM
Stock Market LIVE Updates: Shriram Finance share declines 6% as it trades ex-stock split today
Stock Market LIVE Updates: Shriram Finance share price declined 6 per cent on the stock exchanges on Friday, January 10, 2025. The fall in Shriram Finance shares came as the stock began trading ex-date for stock split today.
Shriram Finance share hit an intraday low of Rs 528.7 per share on the BSE and Rs 529 on the NSE. By comparison, the Sensex and Nifty indices today were down 0.4 per cent each at 10:40 AM. READ MORE
12:02 PM
At 12 PM, the BSE Sensex was higher by 97.73 points, or 0.13 per cent, at 77,717.94, and the Nifty50 was at 23,528.65, marginally ahead by 2.15 points, or 0.01 per cent.
Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty trade with some gains in volatile session
Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty50 were trading with some gains or nearly flat amid volatile trading on Friday.
At 12 PM, the BSE Sensex was higher by 97.73 points, or 0.13 per cent, at 77,717.94, and the Nifty50 was at 23,528.65, marginally ahead by 2.15 points, or 0.01 per cent.
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First Published: Jan 10 2025 | 7:58 AM IST
