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

9:25 AM

Stock Market LIVE Updates: Dr Reddy's, ONGC and RIL lead on NSE

Dr Reddy's, ONGC and RIL were leading the gains on NSE.

9:23 AM

Stock Market LIVE Updates: Broader indices decline

The BSE MidCap index was down 0.60 per cent, while the BSE SmallCap index was down 0.34 per cent.

9:21 AM

Stock Market LIVE Updates: Heatmap check

24 out of 30 stocks were trading in green on the BSE Sensex.

9:20 AM

Stock Market LIVE Updates: Nifty trades marginally in red

NSE's Nifty50 was down 0.04 per cent at 23,698 level. 

9:18 AM

Stock Market LIVE Updates: Sensex slips over 70 pts

The BSE Sensex slipped around 71 points at 78,127 level in early deals of Wednesday. 

9:10 AM

Stock Market LIVE Updates: Nifty above 23,700

NSE's Nifty50 was trading 38 points higher at 23,746 level in pre-open.

9:09 AM

Stock Market LIVE Updates: Sensex jumps 120 points in pre-open

Stock Market LIVE Updates: Sensex jumps 120 points in pre-open.

9:05 AM

Stock Market LIVE Updates: Strong US macros weakening emerging markets is continuing

The trend of strong US macros weakening emerging markets is continuing. The US 10-year bond yield has spiked to 4.67 per cent on better-than-expected jobs numbers and indications of the services sector doing very well.

This means the Fed may hold rates in January leading to further strengthening of the dollar and rising bond yields. The fall out of this on the Indian macros is that the RBI may hold rates in February against the market expectation of a cut. In this macro setting, FIIs are likely to continue selling, putting pressure on the market. Large caps, despite fair valuations, may continue to be on the defensive.

 

Investors can take a slightly long-term view of the market and buy largecaps in financials, IT, pharmaceuticals and select autos. These segments will bounce back in a few months when macros turn positive for India.

(View by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)

8:51 AM

Stock Market LIVE Updates: Passive funds have to sell Rs 1.5K crore ITC Hotels shares after listing

Stock Market LIVE Updates: Domestic passive mutual fund (MF) schemes will have to sell around Rs 1,500 crore worth of ITC Hotels shares once the demerged entity lists on the exchanges, according to estimates.

 

Passive MF schemes — especially those tracking the Nifty 50 and Sensex — will have to offload their holdings in ITC Hotels as the stock will be excluded from the indices. READ MORE

 

8:46 AM

Stock Market LIVE Updates: TCS Q3 results preview: Analysts expect revenue to grow 6% YoY, profit 5%

Stock Market LIVE Updates:  Tata Consultancy Services (TCS), the largest Indian information technology firm, is slated to release its third quarter (Q3FY25) earnings on Thursday, January 9, 2025. 

 

Brokerages tracked by Business Standard estimate the revenue of TCS to grow by 6.3 per cent year-on-year (Y-o-Y), on an average, to Rs 6,445.63 crore as compared to Rs 6,060 crore a year ago. On a quarter-on-quarter (Q-o-Q) basis, revenue is forecasted to grow marginally by 0.24 per cent. The revenue is likely to be impacted by furloughs and the decline of revenue contribution from the BSNL deal which peaked out in Q2. READ MORE

 

8:43 AM

Stock Market LIVE Updates: Q3FY25 updates point to strong growth ahead for jewellery companies

Stock Market LIVE Updates: Two leading listed jewellers, Titan and Kalyan, have just released their pre-quarterly updates for the third quarter of the current financial year (Q3FY25). The market has responded positively to Titan and negatively to Kalyan but the trends are strong for both companies.

 

Titan’s standalone revenue may grow by 24 per cent year-on-year (Y-o-Y) in Q3FY25 due to 26 per cent growth in the jewellery segment. The strong recovery was driven by pickup in consumer demand from the festive and wedding season and supported by reductions in custom duty on gold. More A&P (advertising and promotional) activity could compress margins. Titan may maintain revenue growth of close to 20 per cent or better. READ MORE

 

8:36 AM

Stock Market LIVE Updates: Results preview: Banks' net profit growth likely moderated in Q3FY25

Stock Market LIVE Updates: Net profit of 19 listed banks for the quarter ended December 2024 (Q3FY25) is likely to grow at a modest pace of 9.7 per cent year-on-year (Y-o-Y). This is owing to pressure on margins, moderation in credit off-take, along with some increase in credit costs, according to analysts’ estimates.

Net profit may shrink sequentially by 5.2 per cent over the quarter ended September 2024 (Q2FY25), the estimates by analysts for 19 banks, sourced from Bloomberg, showed. READ MORE

 

8:34 AM

Stock Market LIVE Updates: Q3 results preview: TCS to Wipro, IT firms may post better revenues

Stock Market LIVE Updates: Indian information technology (IT) service providers are expected to post an improvement in revenues on a year-on-year (Y-o-Y) basis for the December quarter of the current financial year (Q3FY25). The top four IT firms — Tata Consultancy Services (TCS), Infosys, HCL Technologies, and Wipro — are likely to grow between 0.1 per cent and 7 per cent Y-o-Y in Q3FY25, according to Bloomberg consensus estimates.

 

TCS, the largest IT services company in the country, will announce its Q3FY25 results on January 9, followed by the rest of the IT majors. READ MORE

8:26 AM

Stock Market LIVE Updates: Markets regulator Sebi warns Ola Electric for violating disclosure norms

Stock Market LIVE Updates: Markets regulator Securities and Exchange Board of India (Sebi) pulled up Ola Electric Mobility in an administrative warning letter over disclosure violations. Ola Electric received the letter on January 7 via email, the company informed the exchanges. READ MORE

 

8:20 AM

Stock Market LIVE Updates: Equities may deliver 8-12% in 2025: Aditya Birla Sun Life Mutual Fund

Stock Market LIVE Updates: In a year that is poised to be one of macroeconomic turbulence, with significant policy shifts and global trade uncertainties, investors should consider asset allocation strategies to capitalise on gains in all asset classes while reducing risks, Aditya Birla Sun Life Mutual Fund (ABSL MF) said in its outlook for 2025.

The asset manager estimates fixed income investments to deliver around 8-9 per cent and precious metals like gold and silver are forecast to generate returns between 8-12 per cent. The fund house foresees equity market returns to moderate but still deliver 8-12 per cent returns. READ MORE