KEY HIGHLIGHTS
US Market Update: Futures Flat
As of 3:28 p.m., the Dow Jones Industrial Average future was flat at 42,983.00, and S&P 500 future was 0.01% down at 6,019.75. The Nasdaq 100 future was 0.08% down at 21,727.50.
Rupee Closes Stronger Against Dollar
The Indian rupee strengthened by nine paise to close at 85.72 against the US dollar. It closed at 85.83 on Thursday.
Source: Bloomberg
Nifty, Sensex Snap Two-Day Fall
The NSE Nifty 50 and BSE Sensex reversed two sessions of decline on Tuesday to end higher, helped by broad based rally led by oil and gas and financials.
The Nifty 50 ended 76.90 points or 0.33% higher at 23,692.95, and the Sensex added 234 points or 0.3% to close at 78,199.11.
During the session, the Nifty 50 advanced 0.76% to the day's high of 23,795.20. The Sensex rose 0.63% to intraday high of 78,452.74.
Reliance Industries Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd. and Kotak Mahindra Bank Ltd. added to the Nifty 50 index in terms of points contribution.
Tata Consultancy Services Ltd., HCLTech Ltd., Trent Ltd., and Infosys Ltd. added to the Nifty 50 index.
On NSE, ten sectors ended higher, while one each ended flat or lower out of 12. The NSE Nifty Oil & Gas jumped the most, and the NSE Nifty IT slid the most.
On BSE, 29 sectors advanced, and two declined out of 31. The BSE Energy advanced the most, and the BSE Focused IT declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.77% and 1.74% higher, respectively.
Market breadth was skewed in favour of buyers. Around 2,622 stocks advanced, 1,361 stocks declined, and 103 stocks remained unchanged on BSE.
Stock Market Today: Tata Elxsi In Pact With CSIR-National Aerospace labs
Tata Elxsi Ltd. has signed a Memorandum of Understanding with CSIR-National Aerospace Laboratories for collaboration on Advanced Air Mobility, as per an exchange filing.
NDTV Profit Exclusive: Income-tax Relief On The Anvil!
New tax regime for individuals could be modified in the Upcoming Budget
Considering Tinkering in Personal Income Tax Slabs
Examining possibility of reducing tax rates for Income up to Rs 10 lakh
Budget to Focus on increasing disposable income for taxpayers
Data suggest about 72% already moved to New Tax regime
Alert: New Tax Regime for individuals restrict exemption and offer few deduction
Alert: New Tax regime set as “default option” for taxpayers
July Budget Made changes in both tax slabs & rates; increases standard deduction to Rs 75,000
The income tax slabs under the new tax regime are as follows: Rs. 0 to Rs. 3,00,000 - 0%, Rs. 3,00,001 to Rs. 7,00,000 - 5%, Rs. 7,00,001 to Rs. 10,00,000 - 10%, Rs. 10,00,001 to Rs. 12,00,000 - 15%, Rs. 12,00,001 to Rs. 15,00,000 - 20% and Above Rs. 15,00,001 - 30%
Stock Market Live: AstraZeneca Pharma Gets Order Worth Rs 12 Crore
AstraZeneca Pharma India Ltd. has received an order of approximately Rs 12 crore, excluding interest and penalty, from the Transfer Pricing Officer for the Assessment Year 2023, according to an exchange filing.
Buzzing Stocks In News: Large Trade In Poonawalla Fincorp
Poonawalla Fincorp has over 20.7 lakh shares traded in a block deal, as per Bloomberg.
GM Breweries Q3 Results: Net Profit Down
Revenue up 5.7% at Rs 166 crore versus Rs 157 crore (Consolidated, YoY)
Ebitda up 18.1% at Rs `29.7 crore versus Rs 25.2 crore
Margin at 17.9% versus 16%
Net Profit down 3.1% at Rs 21.9 crore versus Rs 22.6 crore
Stock Market Live Updates: Midday Market Movers
The Nifty 50 is up 100 points or 0.45% at 23,716.
The BSE Sensex is up 240 points or 0.31% at 78,220.
The top gainer on the Nifty is ONGC with 4.08% advance. Others are Tata Consumer Products, IndusInd Bank, Tata Motors and SBI Life Insurance.
The top losers are TCS, BPCL, Eicher Motors, HCLTech and Tech Mahindra.
(Image Source: NSE)
(Image Source: NSE)
In the broader market, Nifty Midcap 150 is up 0.8%, while Nifty Smallcap 250 gained 1.13%.
Biocon was the major performer in the midcap segment, trading 7.8% higher. MRF is the top drag with 1.6% decline.
Intellect Design Arena is the top gainer in the smallcap space with 9.66% advance. On the other hand, ITI is down 9.99%.
Mobikwik Q3 Results: Net Loss Of Rs 3.6 Crore
One MobiKwik Systems Ltd. has reported lukewarm financial results for the half-year ended September 2024, with both total income and net profit showing a decline on a sequential basis. The stock gave up gains after rising 7% during the morning trade.
Bank Stocks Update: Nifty Bank Up Nearly 1%
Banking stocks rose on Tuesday as it tried to recover from losses in the previous two sessions. The Nifty Bank was up 0.93% as of 11:50 a.m.
All 12 banks part of the index were trading in green. The top gainer was Punjab National Bank, followed by Bank of Baroda, IndusInd Bank and ICICI Bank.
The index closed over 2% lower on Monday as PSU banks witnessed selloff.
IPO News: Quadrant Future Tek IPO Fully Subscribed On Day One
The initial public offering of Quadrant Future Tek Ltd. opened for bidding on Tuesday and was subscribed 5.32 times so far on day one. The IPO consists entirely of a fresh issue of one crore shares, with the company aiming to raise up to Rs 290 crore.
Qualified institutional buyers: Nil.
Non-institutional investors: 5.39 times.
Retail investors: 21.16 times.
Tata Motors Share Price Up
Tata Motors Ltd. share price was trading 1.3% higher at 11:25 a.m. The company reported a slight decrease in production during the October-December 2024 quarter, manufacturing 1,33,898 units compared to 1,35,296 units in the year-ago period.
However, the company achieved higher sales, with 1,39,424 units sold in Q3 FY25, up from 1,37,875 units in the same period last year. This indicates a positive sales performance despite the slight dip in production numbers.
Mobikwik Share Price Up Ahead Of Results
One Mobikwik Systems Ltd. share price is trading higher by 2.3% ahead of its third quarter results due today. This will be the company's first such announcement since listing in December.
Sensex Today: Index Up 0.4% At 11 AM
The BSE Sensex is up 300 points or 0.4% at 78,270 as of 11:00 a.m.
Nifty Today: Index Up 0.5% At 11 AM
The Nifty 50 is up 120 points or 0.55% at 23,740 as of 11:00 a.m.
Stock Market Live News: Nifty IT Down
The Nifty IT index is down 0.16%, compared to the benchmark Nifty trading 0.54% higher. Tata Consultancy Services Ltd., Tech Mahindra Ltd. and HCLTech Ltd. counters are down over 1%.
TCS will announce its third quarter results on Thursday.
L&T Share Price News: Large Order Win In India, Middle East
The power transmission and distribution vertical of Larsen & Toubro Ltd. has won new orders in India and the Middle East. It has categorised the order as 'large', which is Rs 2,500 to 5,000 crore.
Buzzing Stocks: Kalyan Jewellers Share Price Update
Kalyan Jewellers India Ltd.'s share price surged nearly 5% after it released its third quarter update, which showed year-on-year consolidated revenue growth of approximately 39% in the December quarter. However, the stock slipped into losses soon after that.
"Our India operations witnessed revenue growth of approximately 41% during Q3 FY2025 as compared to Q3 FY2024, led by very strong festive and wedding demand across both gold and studded categories," an exchange filing by the company said. It added, that the company reported same-store-sales-growth of around 24%.
The share price then declined by 10:25 a.m.
TCS Share Price News: Stock Down Over 1%
Tata Consultancy Services Ltd. share price is down 1.4% as of 10:20 a.m. at Rs 4,038.7 apiece. The IT major is set to announce its third quarter earnings on Thursday.
Stock Market News Live: Volatility Dips
Volatility in stocks as measured by the India VIX dropped 5% to 14.86. During Monday's session, the VIX had jumped as high as 17% amid a broad selloff.
Titan Share Price News: Investors Cheer Q3 Business Updates
Titan stock rose over 3% to Rs 3,576.7 apiece in early trade after the company registered a growth of 24% year-on-year in the third quarter of financial year 2025.
The jewellery segment of the company saw the most growth with 26% year-on-year growth. There were 26 store addititions, pushing the total number of stores to 749 as of December 2024. The business updates were released on Monday.
Adani Group Stocks: Adani Power Leads Rally
All Adani Group companies rallied in early trade on Tuesday. The top gainer in the pack was Adani Power Ltd., followed by Adani Energy Solutions Ltd. and Adani Green Energy Ltd.
The flagship Adani Enterprises Ltd. was trading 1.1% higher as of 10:05 a.m. after arm Adani Petrochem incorporated its joint venture Valor Petrochem. The other partner is Indorama Resources. This marks the conglomerate's entry into petrochemical sector.
Zomato Share Price News: Jefferies Downgrade Hits Stock
Zomato share price fell as much as 4.95% to Rs 251.75. This comes after the stock was downgraded by Jefferies to 'hold' as it revised the target lower, citing increasing competition as a threat to profitability.
Analysts at Jefferies expect a year of consolidation for the stock after it doubled in value in 2024, it said in a note on Jan. 6. Although valuations appear reasonable considering Zomato's strong execution and growth opportunities, Jefferies is "worried on the rise in quick commerce competition."
Jefferies set a target price of Rs 275 per share from Rs 335 apiece earlier, implying an upside of 1% from the previous close.
Stock Market Live Updates: Indo Farm Shares Lists At 20% Premium
Shares of Indo Farm Equipment Ltd. debuted on the BSE at Rs 258.40 per share, marking a premium of 20.19% over the issue price of Rs 215. The stock listed on the National Stock Exchange at Rs 256 apiece, at a premium of 19.07%.
Indo Farm Equipment's IPO, which closed on Jan. 2, was subscribed 229.68 times, with demand led by non-institutional investors.
Read story here.
Indo Farm Shares Lists At 20% Premium. (Photo source: Vivek Amare/ NDTV Profit)
Indo Farm Shares Lists At 20% Premium. (Photo source: Vivek Amare/ NDTV Profit)
Stock Market Live Updates: Broader Markets Outperform Nifty, Sensex
While the benchmarks are doing well, investors are also pouring capital into the mid and small cap space.
The Nifty Midcap 150 gained as much as 1.26% to 21,142 while the Nifty Smallcap 250 jumped 1.45% to 17,708.
Stock Market Live: Most Steel Stocks Rise
Stocks of steel companies rose in early trade on Tuesday after the government launched the second round of production-linked incentive scheme for Specialty Steel, termed as PLI Scheme 1.1.
The PLI Scheme 1.1 will enable further participation as industry participants requested ministry for relaxation. The scheme will be implemented from financial year 2025-26 to fiscal 2030.
Stock Market Live: Nifty Oil & Gas Sole Sectoral Upset
Nifty Oil & Gas index is up 1.74% in early trade. The top gainers are Oil India Ltd., ONGC, Indian Oil Corp., Gail India Ltd. and Hindustan Petroleum Corp.
Stock Market Live: Nifty Media Sole Sectoral Upset
All but one of the 12 sectoral indices of the NSE are trading in green. Nifty Media is down 0.4%.
Stock Market Live: Nifty Gains Over 100 Points, Sensex Jumps 0.5%
Indian benchmark indices opened higher on Tuesday after a big selloff in the previous session.
The NSE Nifty 50 rose 0.67%, or 158 points, to 23,774.15.
The BSE Sensex gained 422 points, or 0.54%, to 78,387.61.
On the Nifty, ICICI Bank Ltd. and Reliance Industries Ltd. contributed the most to the point increase.
Stock In Focus: CLSA Upgrades ONGC
CLSA has upgraded Oil and Natural Gas Corp. from "Outperform" to "High Conviction Outperform" and raised its target price to Rs 360, up from Rs 330, implying an upside potential of 41.2%. The brokerage highlighted the recent production ramp-up at KG-98, which boosts confidence in the company's ability to meet its targets.
CLSA also anticipates increased gas price realizations to reflect in third quarter results, while the removal of the windfall tax will allow ONGC to earn higher crude realizations. Consequently, EPS estimates for FY25-27 have been revised upwards by 2%-8%. Additionally, ONGC's stock is trading at a significant discount to the peer average, further supporting the upgrade.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.74%. It closed at 6.75% on Monday.
Source: Bloomberg
Rupee Opens Stronger Against US Dollar
Rupee strengthened 4 paise to open at 85.78 against the dollar, according to Bloomberg data. It closed at 85.82 on Monday.
The Indian rupee had declined to a fresh low against the US dollar during the day on Monday, as the demand for the greenback persisted. The Indian unit had declined by 4 paise to a record low of 85.82 a dollar within one hour of the session.
Read story here.
Stock Market Live: What F&O Cues Indicate
Nifty January futures down by 1.5% to 23,730 at a premium of 114 points.
Nifty January futures open interest down by 1.34%.
Nifty Options Jan. 9 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 21,850.
Securities in ban period: Hindustan Copper, Manappuram Finance, RBL Bank.
Also Read: Your Guide To FII Positions For Jan. 7 Trade
GIFT Nifty Above 23,800
The GIFT Nifty was trading above 23,800 early Tuesday. The futures contract based on the benchmark Nifty 50 was up 0.29% or 70 points higher at 23,811 as of 8:23 a.m.
Stock In Focus: Kalyan Jewellers Q3 Business Update
Kalyan Jewellers Ltd. reported a strong third quarter performance with consolidated revenue growth of approximately 39% year-on-year. India operations saw a revenue increase of around 41% YoY, driven by healthy same-store sales growth of about 24%.
During the quarter, the company launched 24 Kalyan showrooms in India and witnessed a 22% YoY revenue growth in the Middle East. Looking ahead, the company plans to expand its footprint with the launch of 75 Kalyan showrooms in non-South India, 15 Kalyan showrooms across South India, and international markets. Additionally, it aims to open 80 Candere showrooms across India.
Stock In Focus: Indo Farm Equipment Listing Day
Shares of Indo Farm Equipment Ltd. will debut on stock exchanges on Tuesday at an issue price of Rs 215 per share. The Rs 260-crore IPO was subscribed 229.68 times as non-institutional investors led demand, with their portion booked 503.83 times.
The portion for institutional investors was subscribed 242.40 times, while the retail portion was subscribed 104.92 times.
IPOs Today: Quadrant Future Tek Opens, Standard Glass Lining Enters Day Two
Standard Glass Lining Technology: The public issue was subscribed 13 times on day one. The bids were led by non-institutional investors (24.4 times), retail investors (14.2 times), and qualified institutional investors (1.8 times).
Quadrant Future Tek: The IPO opens today and closes on Jan. 9. The IPO has a price band of Rs 275 to Rs 290 and minimum lot size of 50. The company raised Rs 131 crore via anchor book allocation.
India Macro Data Today: FY25 GDP Advance Estimates
The government will release the first advance estimate of GDP growth for the financial year 2025 at 4:00 p.m. on Tuesday.
A Bloomberg poll of economists estimates the country's GDP to rise 6.4% in fiscal 2025. Growth for the fiscal is projected at 6.6% by the Reserve Bank of India.
Read the full story here.
Stocks To Watch Today: Bajaj Finserv, Tata Motors, M&M, Titagarh Rail And More
Bajaj Finserv Ltd., Tata Motors Ltd. and Mahindra & Mahindra Ltd. are among the companies that are set to be in focus on Tuesday.
Key updates from these companies, including financial performance, production figures and strategic agreements, are expected to drive market sentiment.
Bajaj Finserv: The company reported a general insurance premium of Rs 1,331 crore for December 2024. Meanwhile, total life insurance premium for the month stood at Rs 1,055 crore.
Tata Motors: Production stood at 1.33 lakh units in the third quarter, slightly lower than the 1.35 lakh units produced in the year-ago period. However, sales rose to 1.39 lakh units compared to 1.38 lakh units in the same period last year.
Mahindra & Mahindra: The company reported a 20% increase in total production, reaching 53,361 units in comparison to 44,495 units in the same period last year. Total sales saw a 14% rise, amounting to 66,676 units compared to 58,369 units YoY.
Read story here.
Stocks To Watch: BPCL, Indraprastha Gas, Gail In Focus
Bharat Petroleum Corp's board has granted in-principle approval for the listing of its joint venture, Maharashtra Natural Gas Ltd . The JV, a key player in the city gas distribution sector, is co-owned by Indraprastha Gas Ltd. (50%), BPCL (22.5%), GAIL India Ltd. (22.5%), and the Maharashtra government (5%).
MNGL is the authorized city gas distributor in Pune.
Citi Research sees the listing as a significant value-unlocking event, particularly for IGL, with its contribution to the target estimated at Rs 45 per share. The potential listing could also unlock value for GAIL's unlisted city gas distribution investments.
Stocks To Watch: Zomato Gets A Jefferies Downgrade
Jefferies has downgraded Zomato to a "Hold" from "Buy" and revised its target price to Rs 275, down from Rs 335, indicating just a 1% upside potential.
The brokerage expects Zomato to experience a year of consolidation, citing strong execution but cautious near-term growth. Valuations are not seen as excessively expensive in the context of the company’s execution, but Jefferies has sharply cut its EBITDA forecast for Blinkit over FY26-27.
The delivery platform is expected to face profitability challenges, leading to a significant reduction in its target multiple for Blinkit, which has been halved to 6 times.
Read full story here.
Currency Check: Dollar Steady
The US dollar trimmed losses as President-elect Donald Trump said his tariff plan won’t be scaled back. Here's how the greenback is stacked against major currencies.
The Dollar Index up 0.09% at 108.34
The euro down 0.07% to $1.0383
The British pound flat at $1.2521
The Japanese yen down 0.39% to 157.23 per dollar
US Market Update: S&P 500, Dow Jones Futures Little Changed
A rally in the world’s largest tech companies lifted US equities at the start of the first full trading week in 2025. A gauge of the “Magnificent Seven” megacaps climbed 2%. Wall Street favourite Nvidia Corp. hit a record high.
The S&P 500 rose 0.6% to 5,975.4. The Nasdaq Composite added 1.24% to close at 19,864.98. The Dow Jones Industrial Average was little changed at 42,706.56.
In the futures segment, S&P 500 and Dow Jones were trading flat as of 7:30 a.m. IST.
The yield on 10-year US Treasury bond rose two basis points to 4.62%.
Key global events today:
Eurozone CPI, unemployment, Tuesday
US job openings, trade, ISM services, Tuesday
Fed’s Thomas Barkin speaks, Tuesday
GIFT Nifty Below 23,800 After Monday's Selloff
The GIFT Nifty was trading below 23,800 early Tuesday. The futures contract based on the benchmark Nifty 50 was up 0.13% or 31.5 points higher at 23,772.50 as of 7:02 a.m.
A day prior, the Nifty 50 and Sensex ended lower for a second consecutive session amid a broader selloff in Indian equities sparked by high volatility and loss of investor confidence. Tata Steel Ltd. and Trent Ltd. were top loser in the Nifty on Monday.
The Nifty 50 ended 389 points or 1.62% down at 23,616, and the Sensex ended 1,258 points or 1.59% down at 77,965. The is the sharpest decline in the two benchmarks since Oct. 3, 2024.
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