Stock Market Today: Sensex Ends Higher, Nifty Flat After Choppy Session; HDFC Bank Up, SBI Drags

• The local currency closed flat at 82.77 against the U.S. Dollar.

Source: Cogencis

India's benchmark indices ended on a mixed note after concluding a choppy session on Tuesday. Gains in shares of HDFC Bank Ltd., Tata Consultancy Services Ltd supported, while losses in shares of State Bank of India, ITC Ltd dragged.

Today, the NSE Nifty 50 settled 3.05 points or 0.01% up at 22,335.70, and the S&P BSE Sensex settled 165.32 points or 0.22% higher at 73,667.96.

The Nifty rose 0.54% to hit an intraday high of 22,452.55, and the Sensex rose 0.68% to touch a high of 74,004.16 so far today.

"Today, the benchmark indices witnessed range bound activity, the nifty ends 2.5  points lower while the Sensex was up  by 165  points. Among Sectors, Reality index lost the most shed 3.7  percent whereas intraday buying were seen in selective IT stocks," said Shrikant Chouhan, head equity research, Kotak Securities.

Technically, after intraday technical bounce back the Nifty/Sensex took the resistance near 22,450/74,000 and corrected sharply. On intraday charts, it is still holding weak texture which indicating weak sentiment is likely to continue in the near future, Chouhan said.

For the day traders now, 22,450/74,000 would act as a key resistance zone. Below the same, the weak texture is likely to continue. Below 22,450/74,000, the market could slip till 22,250-22,200/73,400-73,200. On the flip side, above 22450/74000 the sentiment could change. Above which, the market could bounce back up to 22,500-22,525/74,600-74,700, he added.

HDFC Bank Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., Infosys Ltd., and Bharti Airtel Ltd added positively to the benchmark index.

ITC Ltd., State Bank of India, Larsen & Toubro Ltd., Axis Bank Ltd., and Adani Enterprises Ltd weighed on the benchmark index.

On NSE, 10 sectors out of 12 declined, and two advanced. The NSE Nifty IT index rose the most among peer sectoral indices, while the Nifty Realty index was the top loser.

Broader markets underperformed benchmark indices. The S&P BSE Midcap index declined 1.3%, and the S&P BSE Smallcap index fell 2.11%.

On BSE, 19 sectors out of 20 sectors declined, and one sector advanced. The S&P BSE Realty index fell over 3% to become the top loser among sectoral indices. The S&P BSE TECK index rose the most.

Market breadth was skewed in favour of sellers. Around 3,220 stocks declined, 675 stocks advanced, and 72 remained unchanged on BSE.

• Bharat Mobility Global Expo 2025 will be between 17-22 January 2025.

• Expo to be be spread over Bharat Mandapam, Yashobhoomi, industrial centre in Greater Noida.

• SIAM’s biennial expo to be part of the Bharat mobility expo.

Source: ministry of commerce

Jet Airways India Ltd hit an upper circuit of 5.00% to Rs 42.79 apiece, the highest level since March 6. It remained locked in the upper circuit as of 3:08 p.m., which compared to the 0.04% advance on NSE Nifty 50 index.

It has declined 37.51% in 12 months. Total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was 28.91, which implied the stock is oversold .

• Promoter Ambuja Cements to sell up to 4% stake in co between March 13, 2024, and Feb 6, 2025.

• Up to 2% stake to be sold in FY24 and an additional 2% stake will be sold in the next financial year.

• Ambuja Cements to sell stake to achieve minimum public shareholding.

Source: Exchange filing