Stock Market Close Highlights: Sensex recoups 650 pts from low, ends flat; RIL, ITC, TCS rally 2%
Stock Market Highlights, January 8, 2025: The benchmark equity indices showed great resistance on Wednesday as the BSE Sensex reovered around 650 points from its day's low to settle at 78,141.06, down
 "Stock market")
Share Market Today: Foreign Institutional Investors (FIIs) net sold Indian equities worth Rs 1,491.46 crore on January 7, and domestic institutional investors (DIIs) net bought shares worth Rs 1,615.28 crore on Tuesday. (Photo: Bloomberg)
10:43 AM
Stock Market LIVE Updates: Signature Global shares gain 4% on posting Q3 update; check details here
Stock Market LIVE Updates: Signature Global (India) shares gained 3.7 per cent in Wednesday's trade on BSE, logging an intraday high at Rs 1,403.35 per share. The stock gained after the company released its Q3 update. Around 9:21 AM, Signature Global share price was up 2.62 per cent at Rs 1,388.2 per share on BSE. In comparison, the BSE Sensex was down 0.11 per cent at 78,113.39.
The market capitalisation of the company stood at Rs 19,399.61 crore. The 52-week high of the stock stood at Rs 1,645.85 per share and the 52-week low of the stock stood at Rs 1,021.2 per share. READ MORE
The market capitalisation of the company stood at Rs 19,399.61 crore. The 52-week high of the stock stood at Rs 1,645.85 per share and the 52-week low of the stock stood at Rs 1,021.2 per share. READ MORE
10:34 AM
Stock Market LIVE Updates: KEC International rises 4% on securing orders worth Rs 1,136 crore; details
Stock Market LIVE Updates: Shares of construction major KEC International climbed up to 3.53 per cent to hit an intraday high of Rs 1,167.50 per share on Wednesday, January 8, 2025.
The uptick in KEC International share price came after the company announced that it has secured new orders of Rs 1,136 crores across its various businesses. READ MORE
10:27 AM
Spot gold, at the time of writing this report, was changing hands at $2,651, up around 0.60 per cent on the day as the MCX February gold contract, at 77,576, was up 0.54 per cent. READ MORE
Stock Market LIVE Updates: Buy dips in Gold as low China bond yields, economic uncertainty bode well
Stock Market LIVE Updates: Spot gold traded between $2,633 and $2,665 on January 7. The metal, buoyed by central bank buying, tested the key resistance at $2,665 before correcting lower on strong US data on Tuesday.
Spot gold, at the time of writing this report, was changing hands at $2,651, up around 0.60 per cent on the day as the MCX February gold contract, at 77,576, was up 0.54 per cent. READ MORE
10:21 AM
The company, in an exchange filing, informed that the TSP has been engaged to enhance recovery from mature fields by implementing advanced recovery technologies and best operational practices.
Stock Market LIVE Updates: ONGC engages BP Plc unit as TSP to enhance recovery from Mumbai High Field
Stock Market LIVE Updates: Oil and Natural Gas Corporation today informed that it has engaged BP Exploration (Alpha), a wholly-owned step-down subsidiary of BP Plc, UK, as a Technical Service Provider (TSP) for its Mumbai High Field, a mature oil productin field of the company.
The company, in an exchange filing, informed that the TSP has been engaged to enhance recovery from mature fields by implementing advanced recovery technologies and best operational practices.
10:15 AM
Stock Market LIVE Updates: Reliance Infrastructure defaults on Rs 89 crore debt obligation
Stock Market LIVE Updates: Reliance Infrastructure today informed the exchanges that it has defaulted on outstanding debt of Rs 89 crore. It has a total outstnading debt obligation of Rs 511 crore, the company added.
10:09 AM
Amid the downturn, the Nifty January futures has witnessed a 1.8 per cent rise in open interest (OI) while premium for the futures contract remains around Rs 90 levels. READ MORE
Stock Market LIVE Updates: Angel One, Kalyan Jewel among 5 F&O stocks with short positions in 3 days
Stock Market LIVE Updates: Despite Tuesday's mild pull-back the National Stock Exchange (NSE) benchmark - the Nifty 50 index has declined 2 per cent in the last three trading sessions amid worries over HMPV virus, sustained selling pressure by foreign investors and a weak Rupee.
Amid the downturn, the Nifty January futures has witnessed a 1.8 per cent rise in open interest (OI) while premium for the futures contract remains around Rs 90 levels. READ MORE
10:07 AM
Stock Market LIVE Updates: Leo Dry Fruits share lists at 31% premium; mirrors IPO GMP trends
Stock Market LIVE Updates: Shares of Leo Dry Fruits and Spices Trading posted a decent D-Street debut on Wednesday, January 8, 2025, following the completion of its initial public offering (IPO). Leo Dry Fruits shares listed at Rs 68 apiece on the BSE SME, reflecting a premium of Rs 16 or 30.77 per cent over the IPO allotment price of Rs 52.
Leo Dry Fruits IPO listing mirrored the grey market trends. Ahead of its debut, Leo Dry Fruits shares were quoted at Rs 68 per share in the grey market, representing a premium (GMP) of Rs 16 or 30.77 per cent over the issue price, according to sources tracking unofficial market activities. READ MORE
10:02 AM
At 10 AM, the BSE Sensex was lower by 129.93 points, or 0.17 per cent, at 78,069.18, and the Nifty50 was at 23,670.15, down 37.75 points, or 0.16 per cent.
Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty trade marginally lower
Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty50 were trading lower on Wednesday, amid muted global cues.
At 10 AM, the BSE Sensex was lower by 129.93 points, or 0.17 per cent, at 78,069.18, and the Nifty50 was at 23,670.15, down 37.75 points, or 0.16 per cent.
10:00 AM
Over a two-year period, from the next financial year, its somewhere in the low to mid teens.
Stock Market LIVE Updates: Venugopal Garre of Bernstein on prospects in India markets
Stock Market LIVE Updates: Venugopal Garre of Bernstein says Nifty 50 earnings growth forecast is 8-10 per cent range for FY25; 12-13 per cent for FY26; and another 12-13 for FY27.
Over a two-year period, from the next financial year, its somewhere in the low to mid teens.
9:55 AM
In our view, the rupee is overvalued 7-8 per cent. That overvaluation could moderate over time and the market realises that probably Trump's action may not be as
inflationary as we're already assuming today.
To that extent, the room for rate cuts could be higher than 50 bps, but it's not going to be a first-half driven sudden cut in rates.
I don't thing the RBI can manage the currency spiral that easily.
Stock Market LIVE Updates: Venugopal Garre of Bernstein on broader market prospects in India
Stock Market LIVE Updates: Venugopal Garre of Bernstein says cumulatively, at the bare minimum, a 50 bps is the likely possibility (of rate cuts by the RBI). The policy challenge is that the rupee is depreciating.
In our view, the rupee is overvalued 7-8 per cent. That overvaluation could moderate over time and the market realises that probably Trump's action may not be as
inflationary as we're already assuming today.
To that extent, the room for rate cuts could be higher than 50 bps, but it's not going to be a first-half driven sudden cut in rates.
I don't thing the RBI can manage the currency spiral that easily.
9:49 AM
Last 10 years, Nifty probably bottomed close to 17x in two year forward P/E. Even if you assume 7-8 per cent earnings growth, which is usally during bad times, somewhere around 22,000 or below, is more or less the hard bottom for Nifty. That's not really that far away.
Stock Market LIVE Updates: Venugopal Garre of Bernstein on buying prospects in India markets
Stock Market LIVE Updates: Venugopal Garre of Bernstein says on the downside, sentiment mid of last year was exceptionally strong, and that's why I was very negative. I think, sentiment is very negative at this juncture; everybody is aware of the risks - currency, Trump, macro side, and capex and things like that.
Last 10 years, Nifty probably bottomed close to 17x in two year forward P/E. Even if you assume 7-8 per cent earnings growth, which is usally during bad times, somewhere around 22,000 or below, is more or less the hard bottom for Nifty. That's not really that far away.
9:43 AM
What that means that for the full fiscal, we'll end up with 10% sort of number for the full year.
There are a lot of things that did not play out last year, for example, capex did not play out, consumption was in general, fairly weak on a YoY base perspective. These are the things that would start to pick up in FY26, which is around 2 quarters from now.
For next year, there would be better earnings growth compared to what we've seen in FY25.
Next two years perspective, broader macro forecast is, for a 6.5 per cent plus GDP, and not the 5.5 per cent that you saw in the previous quarter.
To that extent, as you see the economy inch up above 6.5 per cent, broader thinking is, getting a 12 per cent plus earnings growth for two consecutive years, is not a very big feat.
Stock Market LIVE Updates: Venugopal Garre of Bernstein on buying prospects in India markets on CNBC TV18
Stock Market LIVE Updates: Venugopal Garre of Bernstein says earnings picture is not that great for FY25. In the second half, there's an expectation of 15-18 per cent, highly unlikely that we'll achieve such a big lift.
What that means that for the full fiscal, we'll end up with 10% sort of number for the full year.
There are a lot of things that did not play out last year, for example, capex did not play out, consumption was in general, fairly weak on a YoY base perspective. These are the things that would start to pick up in FY26, which is around 2 quarters from now.
For next year, there would be better earnings growth compared to what we've seen in FY25.
Next two years perspective, broader macro forecast is, for a 6.5 per cent plus GDP, and not the 5.5 per cent that you saw in the previous quarter.
To that extent, as you see the economy inch up above 6.5 per cent, broader thinking is, getting a 12 per cent plus earnings growth for two consecutive years, is not a very big feat.
9:34 AM
Neutral on Consumer. Sectors we don't like is Industrials; they're still overvalued.
Stock Market LIVE Updates: Venugopal Garre of Bernstein on buying prospects in India markets
Stock Market LIVE Updates: Venugopal Garre of Bernstein says at this juncture, we're overweight financials; IT services, we've increased weights; upgrade Utilities to overweight; Telecom is an overweight, a continuation from last year.
Neutral on Consumer. Sectors we don't like is Industrials; they're still overvalued.
9:29 AM
When macro bottoms, you also tend to see incremental earnings risks also tend to reduce, beyond what has been modelled.
This pretty much sets you up for a situation where, in this weak phase, one should be buying stocks.
We've reversed our stance from being cautious, to not buying in general, to a situation where we want to be a bit more proactive this year, especially in the first half, when things are weak, to uy equities.
Target for the year is 26,500, which is 12 per cent odd returns at the NIfty level.
Stock Market LIVE Updates: Venugopal Garre of Bernstein on buying prospects in India markets on CNBC TV18
Stock Market LIVE Updates: Venugopal Garre of Bernstein says after being cautious last year over 23,500 Nifty target, with a view that macro would weaken, earnings look frothy, with room for cuts, and no upgrades, in my view, macro has bottomed out. That does not mean we're going to move swiftly to an amazing economic story this year.
When macro bottoms, you also tend to see incremental earnings risks also tend to reduce, beyond what has been modelled.
This pretty much sets you up for a situation where, in this weak phase, one should be buying stocks.
We've reversed our stance from being cautious, to not buying in general, to a situation where we want to be a bit more proactive this year, especially in the first half, when things are weak, to uy equities.
Target for the year is 26,500, which is 12 per cent odd returns at the NIfty level.
9:27 AM
Stock Market LIVE Updates: Nifty Consumer Durables, Realty, Metal and FMCG sectors fall on NSE
Nifty Consumer Durables, Realty, Metal and FMCG sectors fell on NSE.
Topics : MARKET LIVE MARKETS LIVE MARKETS TODAY stock market trading Markets Sensex Nifty S&P BSE Sensex BSE Sensex sensex nifty NSE Nifty Nifty50 Nifty 50 Gift Nifty BSE NSE BSE NSE equity Indian equities Equities US equities Indian stock markets US stock markets Chinese stock market Global stock markets stock markets US markets Indian markets Asia Markets Asian markets
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jan 08 2025 | 7:42 AM IST
