KEY HIGHLIGHTS
Sensex, Nifty End Higher On First Day Of 2025; Maruti Suzuki, M&M Top Gainers: Closing Bell
Benchmark equity indices of India came out of their two-day decline and closed higher on the first session of 2025 as heavyweights led the gains along with automobile stocks, which reacted to their December sales data.
Nifty ended 0.4% or 98.10 points up at 23742.90 and Sensex closed 0.47% or 368.40 points higher at 78507.41. Intraday, both the indices had gained more than 0.7%.
"The positive divergence in the RSI played well and for the reversal to gain further strength, the Index needs to surpass the resistance zone between 23,850-23,900, where the 200-day moving average (DMA) lies," said Aditya Gaggar, director of Progressive Shares. "On the downside, the support seems to be at the 23,560 levels."
Shares of HDFC Bank Ltd., Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., Reliance Industries Ltd., and Maruti Suzuki Ltd. contributed the most to the gains.
While those of Hindalco Industries Ltd., Tata Steel Ltd., Dr Reddy's Laboratories Ltd., Adani Ports & SEZ Ltd., and Oil & Natural Gas Corp. Ltd. weighed on the Nifty.
Most sectoral indices rose with Nifty Auto leading.
Market breadth was skewed in favour of buyers. Around 2,747 stocks advanced, 1,237 stocks declined, and 86 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. BSE Midcap and Smallcap ended 0.50% and 1.03% higher, respectively.
On BSE, 19 sectors advanced, and two declined. The BSE Auto advanced the most, and the BSE Realty declined the most.
Markets At Close
Nifty and Sensex snap two-day fall to end higher
Intraday, both the indices had gained more than 0.7%.
Nifty ends 0.4% or 98.10 points up at 23742.90
Sensex ends 0.47% or 368.40 points higher at 78507.41
Broader indices also rose. Nifty Midcap 100 ended 0.4% up; Nifty Smallcap 250 closed 0.9% higher
Most sectoral indices rose with Nifty Auto leading
M&M and Maruti Suzuki were top Nifty gainers
Dr Reddy's Labs and Hindalco fell the most
Rupee Closes Weaker Against Dollar
-Rupee weakened by four paise to close at 85.65 against the US dollar.
-It closed at 85.61 on Tuesday.
Source: Bloomberg
Fertiliser Stocks Rise As Cabinet Announces Subsidy
Fertiliser stocks rose Wednesday following Union Cabinet decision on affordable DAP fertilizer to provide extra subsidy to farmers. Farmers will continue to get DAP at Rs 1,350 per bag of 50 kg and extra burden will be borne by government. Zuari Agro, Mangalore Chemicals, and Paradeep Phospates gained nearly 5% each.
Trading Ideas: Accumulate Hindalco Industries, Hold Cartrade Tech & Pondy Oxides
Markets experts suggest accumulating Hindalco Industries Ltd. and holding on to Pondy Oxides & Chemicals Ltd. and Cartrade Tech Ltd. Find out what Vaishali Parekh, vice president, technical research, Prabhudas Lilladher Pvt. Ltd. and Nirav Asher, head equity research analyst, Latin Manharlal Sec Pvt Ltd., are saying about these stocks.
Stock Market Updates: Maruti Suzuki Share Price Surges After December Sales Data
Maruti Suzuki share price surged after the automaker reported sale of 1.78 lakh units in December against 1.49 lakh units estimated.
Rupee Slips Vs US Dollar: Good, Bad Or Ugly? — Profit Explains
The Indian Rupee depreciated 2.88% against the US Dollar in 2024. On Dec. 27, 2024, the Indian currency witnessed its worst single-day fall in over two years when it touched a record low of 85.82 against the greenback.
In this backdrop, a question arises about what the depreciation means for the Indian economy.
NDTV Profit explains the pros and cons of currency devaluation. Click here to read.
Suzlon Energy Share Price Rises On Credit Rating Upgrade By CRISIL
Shares of Suzlon Energy surged nearly 4% after CRISIL Ratings upgraded the renewable energy company’s credit rating to 'CRISIL A' with a positive outlook, highlighting the company’s robust performance and improved profitability.
In an exchange filing on Tuesday, the renewable energy solutions provider, announced that this marks the second rating upgrade by CRISIL in 2024, reflecting Suzlon’s strong operational efficiencies, disciplined financial management, and consistent quarter-on-quarter growth.
Renewable Project Developers Need To Win These Tenders For Better Returns
Renewable energy developers need to prioritise bidding in auctions with higher returns to ensure robust cash flow visibility, essential for maintaining premium valuations. This strategy is particularly important amid delays of up to 12 months in power purchase agreements.
This is where Firm and Dispatchable Renewable Energy, or FDRE, tenders come into play. It is an emerging and preferred model for future renewable energy development, according to industry experts.
Share Market News: Coal India December Production
December provisional coal production up 0.7% At 72.4 MT Vs 71.9 MT (YoY)
December provisional coal offtake up 2.4% At 68.6 MT Vs 67 MT (YoY)
Source: Exchange Filing
Adani Wilmar Share Price Bounces Back From Tuesday's Losses After $2-Billion Stake Sale
Shares of Adani Wilmar Ltd. recovered from Tuesday's plunge after the billionaire Gautam Adani's flagship announced a $2 billion exit from the joint venture by divesting its entire 44% stake.
The Fortune cooking oil maker closed 6.3% lower in the previous session but surged over 5% to recoup most of the losses on Wednesday.
Stock Market Today: Power Mech Projects Gets Order Worth Rs 294 Crore
Power Mech Projects Ltd. has received an order worth Rs 294 crore from Adani Power Ltd. for overhauling services for Unit 3 and 4 of the Korba Phase-II project, as per an exchange filing.
Bajaj Auto December Sales Dip On Slow Two-Wheeler Performance
Total two-wheeler sales down 4% at 2.72 lakh units (YoY). Total commercial vehicle sales up 16% at 50,952 units (YoY). Total sales down 1% At 3.23 lakh units against estimate of 3.54 lakh units (YoY)
Source: Exchange filing
Click here for live updates on December sales of Indian auto companies.
Indian Equities To See 'More Volatility' In H1 2025, Says Axis Securities As It Picks 6 Golden Themes
Indian equities are likely to see volatility in the first half of 2025 with the majority of the return expectations being back-end loaded in the year, according to Axis Securities.
The economy will continue to be "star performing" compared to other emerging markets and it is likely to continue its growth momentum in 2025 against the backdrop of a volatile global economy, it said in a report.
SJVN Share Price Rises As It Signs MoU With Bihar To Develop 1,000MW Pump Storage Project
SJVN Ltd. share price rose in the first session of 2025 as the company signed a memorandum of understanding with the Bihar Government to develop 1,000 megawatt pump storage. The development of Hathidah Durgawati PSP will create direct and indirect employment opportunities for 5,000 persons with investment of Rs 10,000 crore, SJVN said in an exchange filing.
Bajaj Auto Falls The Most Among Nifty Stocks; Hits Lowest Level Since March 19
Bajaj Auto fell the most among Nifty stocks and hit Rs 8,551, its lowest level since even as the automaker topped the electric vehicle market share amid a surge in sales in the third quarter. The stock has fallen over 30% from its life-high hit in September.
Stock Market Live: Nifty, Sensex See A Muted Start To The Year As Bajaj Auto, Banks Weigh
Benchmark equity indices started the year on a muted note as share prices of Bajaj Auto and banks weighed on them.
At pre-open, Nifty 50 was at 23637.65 down 0.03% or 7.15 points and Sensex was at 78265.07 up by 0.16% or 126.06 points.
"On the downside, the 23,500 level remains a critical support zone; a breach of this level could trigger further declines toward the 23,200–23,000 range," said Hardik Matalia, derivative analyst at Choice Broking. "Conversely, on the upside, immediate resistance is observed at 23,800, with the 24,000 level posing a significant hurdle."
According to him, a sustained close above 24,000 is necessary to reverse the prevailing bearish trend. "Given the current volatility, traders are advised to remain cautious, implement strict stop-loss measures, and avoid carrying long positions overnight to manage risks effectively," he said.
Share price of ICICI Bank, Bajaj Auto, Axis Bank, Hindalco Industries, and Mahindra & Mahindra Ltd. weighed the most. While those of HDFC Bank Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Sun Pharmaceutical Industries Ltd., and Larsen & Toubro Ltd. kept them from falling.
Most sectoral indices were lower at open with Nifty Metal falling the most.
Nifty, Sensex Little Changed At Pre-Open; Sun Pharma, ITC, India Cements In Focus
At pre-open, Nifty 50 was at 23637.65 down 0.03% or 7.15 points and Sensex was at 78265.07 up by 0.16% or 126.06 points.
Rupee Opens Weaker Against US Dollar
-Rupee weakened by 2 paise to open at 85.62 against the US Dollar.
-It closed at 85.60 on Tuesday.
Source: Bloomberg
Share Market News: Macquarie On Indian IT
Macquarie's latest analysis on Indian IT firms emphasizes the ongoing challenges related to H1B visas, highlighting that these companies require such visas as not all positions can be filled by hiring locally. The analysis points to a long tail of H1B applicants, with the majority of the visas already being accounted for, raising concerns about potential constraints in the future. Macquarie also critiques proposals such as introducing a flat wage floor that is too high, arguing that it would be impractical and could trigger a wage spiral across the entire economy. Despite these challenges, Macquarie sees the current correction in the Indian IT sector as a good opportunity for investors to buy stocks in leading IT services firms. The top picks include TCS (Outperform, Target ₹5,710, upside 39%), HCL Tech (Outperform, Target ₹2,020, upside 5%), and Persistent Systems (Outperform, Target ₹6,750, upside 4.2%).
Share Market News: Emkay Upgrades TVS, Bajaj Auto Rating
Emkay has provided an updated outlook on the Indian automotive sector, particularly focusing on two-wheeler (2W) stocks. The firm has upgraded TVS Motor to a 'Buy' from 'Add', raising the target price to Rs 2,800, reflecting an 18% upside. Bajaj Auto has also been upgraded to 'Add' from 'Sell', with an unchanged TP of Rs 9,500, offering an 8% upside.
Emkay has retained its buy rating on Hero MotoCorp with a TP of Rs 5,600, projecting a 35% upside, and similarly maintains a 'Buy' rating on Eicher Motors with a TP of Rs 5,600, indicating a 16% upside. Despite a slowdown in domestic sales growth, with a growth rate of 8% during the September to December period compared to 12.6% between April and August, Emkay views the steep correction in 2W stocks as unwarranted. The firm expects a strong recovery in exports, which will drive growth momentum in the sector, forecasting a 16-21% compound annual growth rate (CAGR) in volumes from FY24 to FY27. Emkay believes the export market will be the key growth driver for two-wheelers, and despite the domestic slowdown, still prefers 2Ws over passenger vehicles (PVs) due to a relatively better growth outlook.
Stock Market Today: HSBC On Tata Chemicals
HSBC has maintained a 'sell' with target price of Rs 820 and downside potential 22%. Target price of Rs 820 implies a 22.1% downside due to challenging market conditions and modest demand growth.
Ola Electric Drops To 3rd Spot In EV Market Share Post December
Ola Electric’s market share down to 19% from 24% last month. Bajaj Auto is now the market leader with 25% market share and TVS Motor maintains 23% market share. Meanwhile, Ather Energy continues to gain share, market share now stands at 14%
Source: VAHAN
US Market Close: Indices Continue Decline For Third Session
US stock markets declined for the third consecutive day on Tuesday. The Dow Jones Industrial Average and S&P 500 ended 0.07% and 0.43% down, respectively. The Nasdaq Composite ended 0.90% down.
GIFT Nifty Trades Near 23,700; Sun Pharma, ITC, India Cements, Ramco Cements In Focus
At 7:18 a.m., GIFT Nifty traded at 23,740.00, up by 17.50 points or 0.07%. Among others, share prices of Sun Pharmaceuticals Ltd., ITC Ltd., India Cements Ltd., and Ramco Cements Ltd. will remain in focus.
On Tuesday, benchmark indices ended on a muted note. The Nifty 50 ended flat at 23,644.80, and the Sensex ended 0.14% or 109.12 points lower at 78,139.01.
Foreign portfolio investors offloaded stocks worth approximately Rs 4,645.20 crore on Tuesday, according to provisional data from the National Stock Exchange. The DIIs bought stocks worth Rs 4,546.70 crore. While the FPIs have been net sellers for eleven sessions, DIIs have been buyers for ten sessions.
Rupee weakened by seven paise to close at 85.61 against the US dollar.
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