Indian Stock Market Today: Latest Updates and Analysis
The Indian benchmark indices ended marginally lower on Tuesday, with the Nifty closing below the 25,750 marks amid weekly F&O expiry-related volatility. The BSE Sensex declined 250.48 points (0.3%) to close at 83,627.69, while the Nifty slipped 57.95 points (0.22%) to 25,732.30.
Nifty and Sensex: Current Trends
In the broader market, the Midcap index eased 0.2%, whereas the Smallcap index outperformed, gaining 0.6%. The Nifty January futures were down by 0.37% to 25,780 at a premium of 48 points. The Nifty January futures open interest was up by 1.27%. The Nifty Options on Jan 20 showed maximum Call open interest at 26,000 and maximum Put open interest at 24,500.
Global Market Trends
Wall Street stocks plummeted as investors digested the latest inflation data, which showed a 2.7% annual increase in December, matching economists’ expectations. Despite the steady inflation rate, bets on a pause in Federal Reserve rate cuts remained unchanged, with traders expecting the Fed to hold rates steady until June. The S&P 500 index fell to around 6,967.80, with the dollar rising 0.2% against major currencies.
Asian Markets
Asian shares saw a modest gain in early trading, while Japanese stocks continued their winning streak, fueled by a weaker yen. The Nikkei 225 Stock Average rose 0.9% as the Japanese currency slipped past 159 per dollar, reaching its weakest level since July 2024.
Commodity Prices
Gold prices are trending upward, hovering near historic highs as soft US inflation figures strengthen the argument for further interest rate cuts. The metal’s appeal as a haven remains high amid persistent geopolitical volatility. Gold is currently trading at $4,606.45, up 0.4% this morning. This follows a session where it hit an all-time peak of $4,634.55.
After hitting a record high above $89 on Tuesday, silver rose 1.5% to settle around $88.24. Industrial metals are pausing to find their next direction. Copper remains near record levels, while aluminum is maintaining its highest valuation in over three years. Aluminum was 0.4% higher at $3,197.50 a ton on the LME, while copper was 0.3% lower at $13,164 a ton.
Crude Oil
Crude oil has entered a period of consolidation following its most significant four-day rally in over half a year. Market attention is currently fixed on a White House meeting regarding Iran. Holding steady near $61 per barrel after a 9% gain over the last four sessions. Brent maintained its position after closing Tuesday above the $65 mark.
Corporate Actions
Several companies announced their Q3 results, including ICICI Lombard, Tata Elxsi, and Just Dial. ICICI Lombard reported a net profit down 9.1% at Rs 659 crore, while Tata Elxsi reported a revenue up 3.9% at Rs 953 crore. Just Dial reported a net profit down 1.3% at Rs 118 crore.
Ajanta Pharma incorporated an arm in Ireland, while HFCL’s step-down arm in Poland was voluntarily liquidated. Responsive Industries’ CFO, Bhavneet Singh Chadha, resigned. Shanti Educational incorporated an arm in Haryana, while Birlasoft received a penalty of 11,796 euros from a Belgium body.
Stocks in Focus
Infosys, Billionbrains Garage Ventures, HDB Financial Services, HDFC AMC, Indian Overseas Bank, Mangalore Refinery and Petrochemicals, Union Bank of India, and Indosolar are some of the stocks that will be in focus today.
Kotak Mahindra Bank and Ajmera Realty are ex-stock split, while Park Medi World and Nephrocare Health Services are set to exit anchor lock-in. Nifty January futures are down by 0.37% to 25,780 at a premium of 48 points. Nifty January futures open interest is up by 1.27%.
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Conclusion
In conclusion, the Indian stock market is expected to be volatile today, with the Nifty and Sensex trending downward. Investors should keep an eye on the global market trends, commodity prices, and corporate actions to make informed decisions. For more information and updates, visit our website and follow us on social media.
