KEY HIGHLIGHTS
US Futures Rise Before PCE Data
3:30 p.m., the Dow Jones Industrial Average and S&P Futures rose 0.28% and 0.42%, respectively. The Nasdaq futures rose 0.73%.
Nifty, Sensex Register Longest Monthly Losing Streak In 24 Years
The Indian equity benchmark indices closed higher four days in a row, but extended its monthly losing streak.
The NSE Nifty 50 ended 260.05 points, or 1.12% up at 23,509.55, and the 30-stock BSE Sensex ended 740.76 points, or 0.97% higher at 77,500.57.
The NSE Nifty Bank also closed higher at 49587.20. The index ended 0.56% up at 275.25. The stock market will remain open on Feb. 1, on account of the Budget 2025 that is set to take place.
"The last day of the month belongs to the Bulls as from the beginning itself, the Index progressed towards the north and at regular intervals compounded its gains to close at 23,508.40 with gains of 258.90 points. All the sectors ended in green with Energy and FMCG being the major outperformers. Mid and Smallcap space advanced by 1.89% & 2.11% and outshined the Frontline Index," said Aditya Gaggar Director of Progressive Shares.
With a strong bullish candle, the Index has confirmed its Falling Wedge Formation breakout but with the Union Budget announcement tomorrow, there could be high volatility. The undertone will remain positive with the downside being protected at 23,400 while on the higher side, 23,740-23,860 will be considered as a strong resistance zone, he added.
Shares of L&T, ITC, RIL, Infosys and HDFC Bank. contributed positively to changes in the Nifty 50.
While those of Bharti, ICICI Bank, JSW Steel, Bajaj Finserve and Bajaj Finance weighed the index.
All twelve of the 12 sectors ended in green, with Nifty Energy, FMCG, Realty, Oil & Gas and Auto gaining the most.
On the weekly sectoral trends, Nifty Realty, Auto, Finance, PSU Bank and Nifty Bank made the most gains. Nifty Media, Pharma and IT dragged the most.
Market breadth was skewed in the favour of buyers. As many as 2,741 stocks rose, 1,182 fell, and 124 remained unchanged on the BSE.
Broader indices outperformed. Both BSE Midcap and BSE Smallcap closed 0.8% up.
Economic Data Releases And Events For Jan 31
US: Core PCE Index — 7:00 p.m.
US: Employment Cost Index — 7:00 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at the Northern New England CEO Summit, in New Hampshire — 7:00 p.m.
US: Personal Income & Spending — 7:00 p.m.
US: Chicago PMI — 8:15 p.m.
Market At Close
The NSE Nifty 50 and BSE Sensex rose for fourth day in a row.
The Nifty 50 and Sensex ended 1.11% and 0.97% higher, respectively.
The Nifty 50 and Sensex snapped a three-week declining streak.
The NSE Nifty Energy rose the most, while the NSE Nifty Pharma declined the most.
The NSE Nifty Midcap 150 ended 1.73% higher.
The NSE Nifty Smallcap 250 ended 1.70% higher.
Stock Market Live Updates: UPL Share Price Jumps Over 7% As Company Moves To Profit
UPL Ltd. share price jumped over 7% after the company reported net profit of Rs 828 crore against a loss of Rs 1,127 crore in the corresponding period of previous financial year.
For detail update on UPL earnings click here.
Stock Market Live: Cyient Share Price Rises Over 6% As JPMorgan Upgrades Rating
Cyient Ltd. share price rose over 6% as JPMorgan upgraded stock rating to 'Overweight'. It has given a target price to Rs 1,750, which implied a 285 upside. The stock has seen a steep correction in last few days. The brokerage sees less downside from here on.
Moreover, JPMorgan indicates that there could be positive surprise to revenue growth estimates.
Stock Market Live: Waaree Energies Concall Highlights
Cost of solar batteries have been consistently going down allowing for multi- decade growth story
Business in US have been structured to be profitable on their own merit
Continuance of IRA in the US will help the company
Current order book also includes orders from Waaree Renewables Technologies
India has higher order velocity of 1-2 months, US based orders have higher gestation period of 18-24 months
Different gestation in orders is the reason why export revenue mix is lower in 9MFY25
Company’s order book has been growing month on month
Six GW ignot wafer plant is on track for target timeline
Company has been tapping into different solar adjacent industries
Recently won SECI bid for 90,000 ton green hydrogen production
Stock Market Live: Thomas Cook Signs MoU With Moscow Tourism Development
Thomas Cook has signed a 24-month Memorandum of Understanding with the Moscow Tourism Development department, as disclosed in the company's exchange filing.
Stock Market Live Updates Today: Marico Share Price
Marico Ltd. share price declined over 2% after its margin declined despite good topline and bottom line growth during October – December.
Marico Q3 Highlights (Cons, YoY)
Revenue rises 15.4% to Rs 2,794 crore versus Rs 2,422 crore.
Net Profit rises 5.2% to Rs 406 crore versus Rs 386 crore.
Ebitda up 3.9% to Rs 533 crore versus Rs 513 crore.
Margin at 19.1% versus 21.2%.
Stock Market Live: Punjab National Bank Share Price Extends Gains After Net Interest Income Rises
Punjab National Bank Q3 Highlights (YoY)
Net profit rose to Rs 4,508 crore from Rs 2,223 crore.
Gross NPA at 4.09% versus 4.48% (QoQ).
Net NPA at 0.41% versus 0.46% (QoQ).
NII rose 7% at Rs 11,032 crore versus Rs 10,293 crore.
Lodha Vs Lodha: Siblings To Move Towards Mediation In Trademark Dispute
The Bombay High Court on Friday observed that the Lodha brothers have agreed to undergo mediation to reconsider their differences on the 'Lodha' surname brand trademark dispute.
Stock Market Live Update: Ola Electric Share Price Surges After Launch Of Gen 3 Scooter
Shares of Ola Electric Mobility Ltd. surged over 14% after the company unveiled the third generation of its once best-selling scooters. The company plans to reclaim the numero uno position in India’s fast-growing electric two-wheeler market.
Indian Stocks Likely To Revive Soon After Second-Longest Rout In A Decade
Indian stocks is likely to see a bounce-back soon after witnessing the second longest of the 10 corrections in the last decade if the Reserve Bank of India takes a pro-growth stance along with no tax surprise in the upcoming Budget, according to Jefferies.
Read full article here.
Stock Market Live Update: Nifty IT Recover Losses
The NSE Nifty IT index erased losses to trade with marginal gains after the Economic Survey for 2024–25 said that it sees domestic IT market to expand 5.9% in the previous financial year.
IT industry's revenue is estimated to have grown 3.8% in financial year 2024, according to the survey. Exports from the industry witnessed 3.3% year-on-year growth. The sector added 60,000 employees to reach a workforce of 54.3 lakh employees in financial year 2024.
For more updates on India's Economic Survey for 2024–25 click here.
Economic Survey 2024–25: GDP To Grow In Range Between 6.3% And 6.8%
Factoring in the upside and downside risks, India's GDP growth is likely to be around 6.3% and 6.8%, the Economic Survey for 2024–25 said.
For more updates on India's Economic Survey for 2024–25 click here.
Stock Market Live Update: Jubilant Pharmova Share Price
Jubilant Pharmova Ltd. share price jumped after net profit increased over 50% during October – December period.
Jubilant Pharmova Q3 Highlight (Cons, YoY)
Revenue up 8.9% to Rs 1,813.70 crore versus Rs 1,665.20 crore.
Net profit up 51% to Rs 100.90 crore versus Rs 66.80 crore.
Ebitda up 36% to Rs 279.40 crore versus Rs 206.10 crore.
Margin at 15.4% versus 12.4%.
Stock Market Live Updates: Suzlon Energy Hits 5% Upper Circuit
Suzlon Energy Ltd. share price hits 5% upper circuit for two days in a row.
Stock Market Live: Railway Stocks Trade Higher Ahead Of Budget Announcement
Most railway stocks advanced on Friday as investors remained hopeful for positive announcement for these railway infrastructure companies.
Nestle's Powdered And Liquid Beverages Largest Growth Contributor
Nestle Q3 Highlights
Nestle India’s powdered and liquid beverages business was the largest growth contributor in December quarter, with Nescafe strengthening its leadership position. Nescafe achieved significant milestones, surpassing Rs 2,000 crore in retail business over the last year, and gaining market share by reaching 3.7 million new households. Nestle also expanded its distribution reach by 5% in the past year, aided by its urban strategy and a focus on ‘penetration-led growth.’
For faster updates on earnings click here.
Stock Market Today: Vodafone Idea Gets Tax Penalty From Pune Tax Authority
Vodafone Idea received a Rs 363-crore tax penalty by the Pune Tax Authority for allegedly reversing input tax credit, as confirmed in the company's exchange filing.
Stock Market Live: Anup Engineering Q3 Earnings Key Highlights (QoQ)
Margin at 23.6% versus 22.8%
Ebitda down 6% at Rs 40.3 crore versus Rs 42.9 crore
Revenue down 9% at Rs 171 crore versus Rs 188 crore
Net Profit down 3% at Rs 31.4 crore versus Rs 32.3 crore
Click here to track live earning updates.
Stock Market Live Update: Biocon Share Price Rises Despite Bleak Q3 Earnings
Biocon Ltd. share price rose despite bleak third quarter performance. The company's consolidated net profit plunged 96.2% to Rs 25.1 crore from Rs 660 crore.
Stock Market Today: HCLTech Partners With Microsoft & Cricket Australia
HCLTech and Microsoft have partnered with Cricket Australia to harness the power of General Artificial Intelligence and enhance the fan experience, according to an exchange filing.
Stock Market Live Update: KPI Green Energy Gets Orders Worth Rs 111.8 Crore
KPI Green Energy Ltd. has secured new orders worth Rs 111.8 crore in January from multiple clients, as per its exchange filing.
Jindal Steel & Power Shares Tumble 14% — Here's What Triggered The Fall
Jindal Steel & Power Ltd.'s shares fell to an intraday low of almost 14% in trade on Friday, after the company posted weak earnings in the third quarter of financial year 2025.
Read the full article here.
Titan, Jubilant FoodWorks Get Upgrade From Morgan Stanley Despite Weak Consumption Trends
Morgan Stanley on Friday upgraded its stance on two key consumer stocks— Titan Co. and Jubilant FoodWorks Ltd.— reflecting their resilience in a volatile consumption environment.
Global Gold Rates Hit All Time High — Check Rates In Mumbai, Bengaluru, Delhi, Chennai And More
Gold price in India stood at Rs 81,410 per 10 grams as of 7:20 a.m. on Friday, according to the India Bullion Association. The prices had increased by Rs 690 when compared to Jan. 29. It had surged to a record high of Rs 83,750 per 10 grams in Delhi during the week.
Read the full article here.
Stock Market Today: Ola Electric Mobility Launches Gen 3
Ola Electric Mobility are back to being No.1 with 25% market share, CEO Bhavish Aggarwal said.
The competition jumped the gun last month in claiming highest market share. Today, I can tell all our competition “ki hum aapse chaar kadam aage hain”, Aggarwal said.
Stock Market Live Update: Praj Industries Share Price Down On Weak Q3 Earnings
Praj Industries Ltd. saw its share price drop over 6%, following the release of its third-quarter financial results for fiscal 2025, which fell short of analysts' expectations. The company's consolidated net profit declined by 42% year-over-year to Rs 41.10 crore, missing the Bloomberg consensus estimate of Rs 78 crore.
Budget Session Starts Friday: FM Sitharaman To Present Economic Survey 2024–25
Budget session started on Friday. Prime Minister Narendra Modi will conduct his customary address to media ahead of the start of Parliament's budget session.
Finance Minister Nirmala Sitharaman will table the Economic Survey 2025 in Lok Sabha.
For live updates on budget session follow NDTV Profit's live blog.
Stock Market Live Update: L&T Share Price Extends Gains As Qatar Tax Authority Annulls Penalty
In a recent development, Larsen & Toubro Ltd. said that the Qatar Tax Authority annulled Rs 239-Crore tax penalty. The company filed an appeal against this penalty citing arbitrary and unjustified, according to exchange filing.
Stock Market Live Updates: Waaree Energies Share Price Jumps 14%
Waaree Energies Ltd. share price jumped 14% during early trade on Friday after the company reported an impressive third quarter earnings and the manangement announced a Rs 50,000 crore order book.
Nifty, Sensex Open Higher As L&T, Infosys Share Prices Lead: Opening Bell
The NSE Nifty 50 and BSE Sensex opened higher tracking a rise in Larsen & Toubro Ltd. and Infosys Ltd. share prices led. As of 9:16 a.m., the Nifty 50 was 45.90 points or 0.20% higher at 23,295.40, and the Sensex was 158.02 points or 0.21% higher at 76,917.83.
"Expect higher intra-day volatility today as the market braces for the Union Budget announcement. Key sectors to focus on include railways, infrastructure, fertilizers, textiles, electric vehicles (EV), and green energy stocks ahead of tomorrow Union Budget," said Vikas Jain, head, research, Reliance Securities.
Larsen & Toubro Ltd., Infosys Ltd., Titan Co., Tata Consumer Products Ltd., and Maruti Suzuki India Ltd. added to the Nifty 50 index.
Bharti Airtel Ltd., ICICI Bank Ltd., HDFC Bank Ltd., NTPC Ltd., and Coal India Ltd. weighed on the Nifty 50 index.
On NSE, six sectors advanced and six declined out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty IT advanced the most.
The BSE Midcap and Smallcap indices were trading 0.31% or 0.295 higher, respectively.
On BSE, 16 sectors advanced and five declined out of 21. The BSE Bankex declined the most, while the BSE Industrial rose the most.
Market breadth was skewed in favour of buyers. Around 1,729 stocks advanced, 890 stocks declined, and 118 stocks remained unchanged on BSE.
Stock Market Live Update: Nifty, Sensex Trade Higher At Pre-Open
At pre-open, the NSE Nifty 50 was 0.20% or 47.25 points higher at 23,296.75, and the BSE Sensex was 0.17% or 129.08 points higher at 76,888.89.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.68%.
It closed at 6.68% on Thursday.
Source: Bloomberg
Alert: The inclusion of Indian government bonds in the Bloomberg EM Local Currency Government indices will begin today.
FAR bonds will be included with an initial weight of 10% of their full market value on Jan. 31, 2025.
Rupee Opens Flat Against US Dollar
Rupee opened flat at 84.63 against the US dollar.
It closed at 86.62 on Thursday.
Source: Bloomberg
Stock Market Live: Citi Research On Navin Fluorine
Maintain 'Buy' with a target price Rs 4,500, which implied a 15%
Ebitda at Rs 147 crore vs estimate of Rs 120 crore
Beat driven by higher specialty chemicals and domestic ref gas sales
Ramp-up of agro specialty plant, pickup in CDMO and commissioning of new R32 plant augur well
Raise FY25e/26e/27e Ebitda by 1%/18%/17% based on 3Q trends
Continue to value Navin at 25x Mar’26E EV/EBITDA
Stock Market Live: Jefferies On BEL
Maintain Buy with a target price Rs 370, which implied a 34% upside
All round beat, guidance intact
3QFY25 EBITDA was 51% above expectations
Margin strength gives confidence on profitability sustaining
Rs 71,100 crore order book (down 7% YoY), but 3x FY25 revenues
Believe exports should rise to 9% of sales byFY30E from 2-3% in FY24
Brokerages On L&T
Jefferies On L&T
Maintain Buy; Cut TP to Rs 4500 from Rs 4600
Third quarter Ebitda was lower than estimates by 10%, mainly due to L&T’s IT and Finance subsidiaries
E&C margins in 3Q impacted likely by revenue recognition in hydrocarbon
Commentary highlights bottoming of macro indicators
Believe double-digit revenue and Ebitda growth visibility should drive upside
GS On L&T
Maintain Buy; Cut TP to Rs 3920 from Rs 3960
Third Review: Strong order inflow, margins remain muted
To deliver healthy double-digit revenue growth over the medium term
As execution mix shifts towards domestic, believe margins should also gradually improve
Asia Market Update: Most Markets Trade Higher
Markets in Japan and Australia were trading higher on Friday, tracking overnight moves on Wall Street. Meanwhile markets in most countries in the region were closed for lunar holiday.
The Nikkei 225 and S&P ASX 200 were trading 0.07% and 0.34% higher, respectively. The KOSPI was 1.22% down.
US Market Update: Stocks End Higher As Microsoft &Tesla Boosts Investors' Sentiment
Share indices on Wall Street ended higher Thursday as Microsoft Corp beat revenue estimates, while Tesla said they are on track to roll out cheaper electric vehicle models.
On Thursday, the Dow Jones Industrial Average and S&P 500 were trading 0.38% and 0.53% higher, respectively. The Nasdaq Composite was 0.25% up.
GIFT Nifty Near 23,400; Ajanta Pharma, Biocon, Container Corp Share Prices In Focus
The GIFT Nifty was trading near 23,400 on Friday. Ajanta Pharma Ltd., Biocon, Container Corp share prices may move due to earnings.
As of 6:32 a.m., the GIFT Nifty was 0.18% or 43 points down at 23,425.00.
The Indian equity benchmark indices closed higher three days in a row, as BEL and Power Grid Corp. stocks led gains.
The NSE Nifty 50 ended 86.40 points, or 0.37% up at 23,249.50, and the 30-stock BSE Sensex ended 226.85 points, or 0.30% higher at 76,759.81.
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