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Closing Bell | 3:30 PM IST | 03 Jan 2025 | Sensex dropped over 750 points, while Nifty stayed above 24,000
Synopsis:
Today’s share market’s key developments include - IRFC collaborates with REMCL on renewable energy projects, Wockhardt and Biocon secure key drug approvals, Avenue Supermarts posts 17.5% Q3 growth, MOIL achieves record production, and ₹1,506.75 crore FIIs net buy reflects market interest.
3:30 PM IST | 03 Jan 2025
Closing Bell | Sensex dropped over 750 points, while Nifty stayed above 24,000
Sensex slid over 750 points, while Nifty held above 24,000. Quadrant Future Tek’s IPO opens Tuesday, and Sri Lotus Developers plans to raise ₹792 crore via IPO. India’s 2024 IPOs hit a record $20.5 billion, with Kotak Mahindra Bank leading investment banking fees at $92.8 million. M&A deals reached 2,756 transactions, though deal value fell 11.4%. Bond offerings remained stable, and India VIX eased by over 1%, reflecting improved market sentiment despite recent volatility.
2:30 PM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex dropped over 650 points | Nifty fell below 24,100
Sensex fell over 650 points, and Nifty dropped below 24,100, with Wipro and HDFC Bank leading the losers. Nifty Oil & Gas gained 2%, while ITI surged 13% to a record high. European stocks dipped 0.1% but marked a 0.7% weekly rise. Asian stocks gained despite Wall Street’s soft start to 2025. D-Mart’s Q3 update boosted Vishal Mega Mart shares by 5%. Kotak Equities initiated coverage on Bajaj Housing, predicting a 21% drop with a ₹100 target.
1:30 PM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex dropped over 350 points | Nifty fell below 24,150.
Sensex fell over 350 points, with Nifty slipping below 24,150; the oil & gas index was the top sectoral loser. ITI shares surged 13%, hitting a record high, while Vishal Mega Mart rose 5% after D-Mart’s Q3 update. Asian stocks gained despite Wall Street’s weak 2025 start. Nalco faced pressure as alumina prices dropped 5%, down 30% from peak. MOSL reported high MSCI Standard index inclusion probability for Coforge, Paytm, Coromandel Intl, and Uno Minda.
12:30 PM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex fell 0.65% | Nifty 50 dropped 0.57%.
Sensex dropped 0.65%, and Nifty 50 declined 0.57%. Bitcoin surged above $97,000, with XRP and Cardano up 11%. YES Bank’s Q3 advances grew 12.6% to ₹2.45 lakh crore, deposits rose 14.6%. Garware Technical Fibres' 4:1 bonus issue record date saw shares fall 5%. Davin Sons Retail's SME IPO, priced at ₹55, subscribed 5.8x. Nifty pharma stocks traded lower, while Chola Securities set a ₹1,082 target for Tata Technologies. Five stocks plunged over 50% from 52-week highs.
11:30 AM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex falls over 400 points | Nifty dips below 24,100
The Sensex dropped over 400 points, with Nifty slipping below 24,100 as the IT index declined by 2%. WhiteOak Capital Mutual Fund launched a thematic fund, and Leo Dryfruits’ SME IPO closed with a 24.88x subscription. Adani Ports reported 8% YoY growth in December cargo volumes. Top gainers included Avenue Supermarts (+13.3%) and Sapphire Foods (+6.23%), while HDFC AMC (-2.74%) and Wipro (-2.47%) led the losers. The market’s advance-decline ratio favoured buyers amid dynamic trading activity.
10:40 AM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex plunges 600 points | Nifty below 24,100
Sensex dropped 600 points, with Nifty falling below 24,100. Stocks like Hero MotoCorp and Wipro saw short buildups as open interest and volumes rose, indicating bearish trends. Wipro declined 2.08%, Tech Mahindra 1.80%, and Hero MotoCorp 2.34%. ONGC shares surged 4% following Jefferies’ bullish outlook, while Western Carriers gained 7% after securing a Vedanta contract. The Nifty IT index fell 1%, with Tech Mahindra and Wipro among the top losers. ITC Hotels is set to join Nifty in dummy form post-demerger.
10:15 AM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex tumbles 500 points | Nifty below 24,100
Sensex fell 500 points, and Nifty dropped below 24,100, with HDFC Bank and Infosys leading the declines. DMart shares surged 15%, hitting a 10% upper circuit on Q3 updates, while ZEEL jumped 7% after SEBI rejected settlement applications. YES Bank reported a 12.6% rise in Q3 advances to ₹2.45 lakh crore. The Nifty PSU Bank index gained over 1%, and Nifty Media rose 2%. Citichem India shares debuted flat on the BSE SME platform.
9:45 AM IST | 03 Jan 2025
Stock Market LIVE Updates | Sensex falls 350+ points to 79,575.14 | Nifty slips below 24,100
Sensex dropped over 350 points to a low of 79,575.14, with Nifty slipping below 24,100. DMart shares surged 15% after reporting a 17% YoY revenue growth to ₹15,565.23 crore in Q3 FY25. IRFC shares rose 3% following an MoU with REMCL to fund renewable energy projects. Meanwhile, Hero MotoCorp shares fell over 3% as December sales declined by 17%, reflecting market volatility across sectors.
9:30 AM IST| 03 Jan 2025
Stock Market LIVE Updates | Sensex Falls 100 Points, Nifty Tests 24,200 Levels
Sensex drops 100 points, Nifty tests 24,200; Avenue Supermarts jumps 10%, while Hero Moto falls 3%. Rupee declines 3 paise to 85.78 against the US dollar. Zee Entertainment, YES Bank, and NHPC lead movers. Technichem Organics IPO allotment is expected today, while Fabtech Technologies IPO opens. IRFC shares are in focus after an MoU with REMCL for renewable energy financing. ICRA warns of slowing credit growth and rising provision costs as banking liquidity remains tight.
GIFT NIFTY: Gift Nifty suggests a flat to negative opening for the Indian markets and is likely to consolidate in the broad range of 23,900 -24,250.
INDIA VIX: 13.74 | -0.77 (5.31%) ↓ today
Latest Market News
1. Indian Railway Finance Corporation Limited (IRFC) has signed a MoU With REMCL to collaborate on financing Renewable Energy (RE) projects.
2. Wockhardt's new oral antibiotic gets CDSCO approval.
3. Avenue Supermarts | The company reported a strong performance for the third quarter of FY25, with standalone revenue from operations reaching ₹15,565.23 crore, marking a 17.5% increase compared to ₹13,247.33 crore in the same quarter last year.
4. Biocon | The Biotechnology firm announced that its wholly owned subsidiary, Biocon Pharma Ltd, has received approval from the National Medical Products Administration (NMPA) in China for its Tacrolimus capsules in 0.5mg, 1mg, and 5mg strengths.
5. INFRA STOCKS ; The Union government will launch infrastructure projects worth Rs 1 lakh crore in the next two years to transform Delhi, focusing on improving infrastructure and reducing pollution, according to Union Minister Nitin Gadkari.
6. MOIL; MOIL achieved record Q3 production of 4.6 lakh tonnes of manganese ore and sales of 3.88 lakh tonnes, up 13% YoY. For the April-December 2024 period, production rose 4.5% to 13.3 lakh tonnes, and sales increased 3.5% to 11.39 lakh tonnes. Exploratory drilling was up 19%. MOIL is on track to surpass its best-ever Q3 revenue.
7. FIIs Net Buy ₹1,506.75 crore & DIIs net buy ₹22.14 crore in equities yesterday.
AVENUE SUPERMARTS LIMITED
Trade4025.2414.09 (11.46 %)
Updated - 03 January 2025
In-Depth Market Insights: Global Outlook, Derivatives & More
Other Asset Classes
Treasury Yields:
The US 10-year yield fell 1.4 basis points to 4.56%, while the two-year rate changed slightly to 4.25%.
Currency:
The dollar index was trading above 109 levels.
Commodities:
West Texas Intermediate crude oil rose 2% to $73.13 a barrel & Brent climbed to settle at $75.93 per barrel, up 1.73%
Gold increased 1.2% to $2,671.50 per troy ounce, while silver jumped 2.6% to $29.99 per ounce.
Asian Markets
General Trends:
Asian markets showed mixed performance on early morning Friday, diverging from the overnight losses on Wall Street.
Specific Index Performance:
Japanese markets remained closed due to a holiday, while South Korea’s Kospi index climbed by 1.41%, and the Kosdaq rose by 1.33%.
Meanwhile, futures for Hong Kong’s Hang Seng index pointed to a weaker opening.
India Market Outlook
Market in Previous Session:
On the 2nd day of the new calendar year, Indian benchmark indices continued their upward momentum, with the Nifty crossing 24,200 intraday, fuelled by sector-wide buying, particularly in auto stocks after the release of December sales data.
The bulls took charge as the market opened steadily and maintained a consistent rally throughout the session.
This upward momentum has significantly alleviated recent pressure, bringing the Nifty closer to its next resistance level at the 100-day exponential moving average (DEMA), which is currently near the 24,250 mark.
At the close, the Sensex rose by 1,436.30 points, or 1.83%, to 79,943.71, while the Nifty gained 445.75 points, or 1.88%, to settle at 24,188.65.
The BSE Midcap and Small-cap indices posted gains of 1% each.
All sectoral indices finished in the green, with the auto index climbing 3.5%, the IT index rising 2%, and FMCG, Metal, Oil & Gas, PSU, Realty, and Bank indices each increasing by 1%.
TRADE SETUP FOR JAN 03
Nifty Short-Term Outlook:
Index started the session on a positive note and gained momentum as the session progressed to close near the high. Index in the process formed a strong bull candle with a higher high and higher low signaling strength.
Nifty witnessed breakout above the upper band of the last two weeks' consolidation of 23,500-24,000 and almost tested the immediate resistance area of 24,260.
Going ahead, a follow-through strength above 24,260 will open further upside towards 24,500 levels, being the measuring implication of the last two weeks' consolidation range (23,500-24,000).
Immediate support on the lower side is placed at 23,900-24,000, being the Thursday breakout area. While key support is placed at 23,500 levels.
Intraday Levels:
Nifty: Intraday resistance is at 24,260 followed by 24,380 levels. Conversely, downside support is located at 24,060, followed by 23,940.
Bank Nifty: Intraday resistance is positioned at 51,980, followed by 52,200, while downside support is found at 51,320, followed by 51,100.
Derivative Market Analysis
Nifty:
The highest call OI is positioned at 25000 followed by 24200 level, whereas the highest put OI is positioned at the 24000 level.
Straddle formation is seen at 24200 making it a crucial level to watch for. A breach of 24200 can take the index towards 24000. Key resistance for the index is 24500.
According to option chain analysis, broader range for Nifty is 24000 and 24500.
The Nifty put-call ratio is now positioned at 1.23
Bank Nifty:
The highest call OI is positioned at 53000 followed by 52000 level, whereas the highest put OI is positioned at the 51000 followed by 51500 level.
Straddle formation is seen at 51500 making it a crucial level to watch for. Breach of 51500 can take the index towards 51000. Key resistance for the index is 52500.
According to option chain analysis, immediate range for Bank Nifty is 51500 and 52500.
The Bank Nifty put-call ratio is now positioned at 1.03.
US Share Market News
Performance Overview:
US benchmark equity indexes closed lower on the first trading day of 2025, with the S&P 500 and the Nasdaq Composite weighed down by a sell-off in Tesla shares.
Sector-Specific Movements:
The technology-heavy Nasdaq and the S&P 500 fell 0.2% each to 19,280.8 and 5,868.6, respectively, on Thursday. The Dow Jones Industrial Average lost 0.4% to 42,392.3. Consumer discretionary saw the steepest decline among sectors, while energy led the gainers.
Economic Indicators:
In economic news, the US manufacturing sector remained in contraction territory in December amid declines in output and new orders, while sentiment reached the lowest since August, according to a survey by S&P Global.
Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make wise investment decisions.
3:30 PM IST | 02 Jan 2025
Closing Bell | Sensex gains 1,436 points | Nifty crosses 24,150 for the second consecutive day of rally.
Sensex surged over 1,500 points, closing 1,436 points higher, while Nifty topped 24,200 as India VIX eased 5%. Bajaj twins gained over 6%, with DMart and Cement sectors in focus. Sundaram Finance (+14.96%) and Dhani Services (+10.58%) led Nifty gainers, while Petronet LNG (-5.7%) and Crisil (-3.96%) were top losers. The market capitalisation of BSE-listed companies rose ₹5.58 lakh crore to ₹450.01 lakh crore. Nifty 50 is projected to reach 26,500 by March 2026, driven by capex and mid-cap growth.
1:40 PM IST | 02 Jan 2025
Stock Market LIVE Updates | Sensex jumps 1,300+ points to 79,900; Nifty crosses 24,100.
Sensex surged over 1,300 points, crossing 79,900, while Nifty climbed above 24,100. Jai Corp shares plunged 20% following UIHPL’s capital reduction proposal. Except for Nifty Media and Pharma, all sectors traded in the green, with broader indices mirroring benchmarks. Mukesh Ambani is reportedly planning Reliance Jio’s IPO in 2025, aiming to raise ₹35,000-40,000 crore, valuing the telecom giant at $120 billion. The IPO, expected to be India’s largest, involves both new and existing share sales. India VIX eased over 2%. Currently, the top Nifty gainers include Maruti (+3.2%) and M&M (+2.4%), while losers are Wipro (-1.8%) and Hero MotoCorp (-1.4%).
12:10 AM IST | 02 Jan 2025
Stock Market LIVE Updates | Sensex reached 79,213 (+0.4%) | Nifty surpassed 23,900, marking strong market momentum.
Sensex hit a day's high of 79,213, gaining 0.4%, while Nifty crossed 23,900. Australian miners boosted shares on 2025's first trading day. Gold extended gains as markets braced for policy shifts. Petronet LNG shares dropped 8%. Vishnu Prakash R Punglia secured an LOI worth ₹3,134 crore, and Cosmea Financial Holdings received SEBI approval for mutual fund business. Bitcoin surged past $95,000, with XRP and Stellar gaining up to 21%.
11:10 AM IST | 02 Jan 2025
Stock Market Live Updates | Sensex surged 700 points to 79,213 | Nifty surpassed 23,900
Sensex surged 700 points to hit a day's high of 79,213, while Nifty climbed above 23,900. Bajaj twins and Maruti Suzuki led the gains. CreditAccess Grameen and Sundaram Finance emerged as top Nifty gainers, while Petronet LNG and Timescan Logistics were the top losers. Ashok Leyland shares rose 4%, driven by strong December auto sales data. Sandur Manganese gained 3% after receiving approval to increase iron ore production, adding to the positive momentum in the market.
10:30 AM IST | 02 Jan 2025
Stock Market Live Updates | Sensex gained 0.38% to 78,818.21 | Nifty rose 0.4% to 23,835.3
The BSE Sensex rose 0.38% to 78,818.21, while the NSE Nifty 50 gained 0.4% to close at 23,835.3. Bajaj twins and Maruti Suzuki were among the top Nifty winners. Gujarat Toolroom shares hit a 5% upper circuit, while RailTel climbed 6%. Anya Polytech listed at a 22% premium on the NSE SME platform. Kotak Mahindra Bank advanced 2% following brokerage upgrades citing strong valuations. Vodafone Idea aims to launch its 5G services by March 2025, and bond yields edged higher as traders anticipated an $88 billion supply this quarter.
09:15 AM IST | 02 Jan 2025
Stock Market Live Updates | Sensex rose 292 points (+0.37%) to 78,764.78 | Nifty gained 81.25 points (+0.34%) to close at 23,831.45
The BSE Sensex surged by 292 points (+0.37%) to close at 78,764.78, while the NSE Nifty 50 gained 81.25 points (+0.34%) to settle at 23,831.45. Kotak Bank and Tata Motors climbed up to 2%, boosting indices. NMDC’s December iron ore production grew 5.1%, though sales fell 6.7% year-on-year. CSB Bank reported a 26% increase in Q3 gross advances, and South Indian Bank recorded 12% YoY growth. KPI Green Energy’s 1:2 bonus issue record date is scheduled for tomorrow.
08:15 AM IST | 02 Jan 2025
Gift Nifty hints at a flat market opening, consolidating between 23,500 and 24,000. Nifty closed at 23,742.90, up 0.41%, while Sensex rose 0.47% to 78,507.41. Gold remains a buy on corrections. FPIs favour IPOs but exit secondary markets. Key stocks in focus include Garware Technical Fibres for its 4:1 bonus issue, Tata Motors on sales data, and RailTel, securing a ₹78.43 crore project from Bharat Coking Coal Limited.
GIFT NIFTY: Gift Nifty suggests a flat opening for the Indian markets and is likely to consolidate in the broad range of 23,500 -24,000.
INDIA VIX: 14.51 | +0.60 (0.42%) ↑ today
Latest Market News
1- Insurers likely to have hike commercial property insurance premiums by upto 80% from Jan 1 - et now.
2- Lloyds metals and energy: co says has reported its highest-ever nine months ended iron ore production, achieving an impressive 8.6 million tonnes, marking a 5 % year-on-year (yoy) increase
3- fertiliser stocks; cabinet approved enhancement of pm fasal bima yojana (rs 69,515 cr) enhanced allocation of rs. 69,515 cr.
4- HDFC Life insurance faces ₹270.58 crore GST demand, plans to appeal.
5- FIIS net sell ₹1,782.71 crore while DIIS net buy ₹1,690.37 crore in equities yesterday.
HDFC LIFE INS CO LTD
Trade6232.84 (0.45 %)
Updated - 03 January 2025
In-Depth Market Insights: Global Outlook, Derivatives & More
Other Asset Classes
Treasury Yields:
The US 10-year yield rose 2.8 basis points to 4.57%, while the two-year rate dropped 1.4 basis points to 4.24%.
Currency:
The dollar index was trading near 108 levels.
Commodities:
West Texas Intermediate crude oil rose 1.2% to $71.82 a barrel. Brent crude futures was up by 0.6%, to $75.10 a barrel.
Gold rose 0.8% to $2,638.70 per troy ounce, while silver lost 0.4% to $29.28 per ounce.
Asian Markets
General Trends:
Asian stocks were set to start the New Year cautiously after wrapping up 2024, a strong year for global markets, on a less positive note.
Specific Index Performance:
Futures on benchmarks in Shanghai declined after mainland Chinese gauges tumbled in December’s final day of trading.
Australian benchmark were little changed. Fresh data showed Australian house prices declined for the first time in 22 months in December as buyers increasingly found themselves priced out of the market, while the supply of properties increased.
Japanese markets are closed through Jan. 6.
New Zealand remains on holiday, while South Korea will have a late open.
India Market Outlook
Market in Previous Session:
On January 1, Indian equity markets closed on a positive note, with the Nifty finishing above 23,700.
Sensex advanced by 368.40 points (0.47%) to 78,507.41, while the Nifty gained 98.10 points (0.41%) to settle at 23,742.90.
The index has entered its second consecutive week of consolidation, with current indicators pointing to a continuation of this trend.
Following an early dip, renewed buying interest in selected heavyweight stocks across various sectors swiftly offset the losses, steadily driving the index upward.
With the exception of realty and metal, all sectoral indices closed in the green, led by auto, power, and capital goods, each rising by 1%.
The midcap index gained 0.5%, while the small-cap index climbed 1%.
TRADE SETUP FOR JAN 02
Nifty Short-Term Outlook:
Index started the year on a positive note as it closed Wednesday session higher by 0.4%. Index has formed a bull candle with small shadows in either direction signaling consolidation with positive bias.
Going ahead, it is expected to continue its consolidation phase in the broad range of 23,450-24,000. Immediate support levels are positioned at 23,500-23,450 being the confluence of the 200-day EMA and the lower band of the rising channel.
On the higher side, 23,900-24,000 remain as stiff resistance for Nifty. Only a move above 24,000 will open further upside towards 24,250. On the downside, a move below 23,450 will signal an extension of decline towards the November low of 23,260.
Intraday Levels:
Nifty: Intraday resistance is at 23,850 followed by 23,940 levels. Conversely, downside support is located at 23,640, followed by 23,560.
Bank Nifty: Intraday resistance is positioned at 51,350, followed by 51,600, while downside support is found at 50,840, followed by 50,480.
Derivative Market Analysis
Nifty:
Highest call OI is positioned at 24500 followed by 24300 level, whereas the highest put OI is positioned at the 23000 level followed by 23200 level.
Put writers were active below 23800 indicating strong support at lower level. On the higher end, if 24100 is broken, the index can march towards 24400 levels.
According to option chain analysis, a broader range for Nifty is 23500 and 24300.
The Nifty put-call ratio is now positioned at 1.06.
Bank Nifty:
The highest call OI is positioned at 53000 followed by 52000 level, whereas the highest put OI is positioned at the 51000 followed by 50000 level.
Straddle formation is seen at 51000 making it a crucial level to watch for. Breach of 51000 can take the index towards 50500. Key resistance for the index is 52000.
According to option chain analysis, an immediate range for Bank Nifty is 51000 and 52000.
The Bank Nifty put-call ratio is now positioned at 0.93.
US Share Market News
Performance Overview:
US benchmark equity indexes closed lower on Tuesday but logged double-digit percentage gains for the year.
Markets will be closed Wednesday for New Year's Day.
Sector-Specific Movements:
The Nasdaq Composite dropped 0.9% to 19,310.8 on the last trading day of the year, while the S&P 500 fell 0.4% to 5,881.6. The Dow Jones Industrial Average lost 0.1% to 42,544.2.
For 2024, the Nasdaq jumped nearly 29%, while the S&P 500 advanced 23%. The Dow added 13%. All three indexes reached their all-time high closing levels earlier this month.
Economic Indicators:
Among sectors, technology saw the steepest decline on Tuesday, while energy led the gainers.
Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make wise investment decisions.
4.00 PM IST | 01 Jan 2025
Closing Bell | The market closes with Sensex at 78,507.41 (+0.47%) | Nifty at 23,742.90 (+0.41%).
Nifty held steady above 24,600, with auto stocks outperforming while realty lagged. Top gainers included Davangere Sugar (+10.78%) and Foce India (+10.23%), while TVS Holdings (-12.58%) and Crompton Greaves (-5.18%) led the losers. The Indian Rupee hit a record low for the seventh straight session, and the advance-decline ratio favoured buyers. Cement and DMart stocks remained in focus during the trading session.
3.00 PM IST | 01 Jan 2025
Stock Market Live Updates | Sensex jumps over 600 pts | Nifty50 steady above 23,700
The BSE Sensex surged over 600 points, reflecting strong market momentum and positive investor sentiment across key sectors, while the Nifty50 reflects a stable market performance, remaining above the 23,700 mark. Top auto sector gainers include Maruti Suzuki (+3.17%), M&M (+2.23%), and TVS Motors (+2.01%). In Nifty Bank, IDFC First Bank (+1.92%) and AU Small Finance Bank (+1.89%) led gains. Kotak Mutual Fund introduced the Nifty Smallcap 250 Index Fund.
1.30 PM IST | 01 Jan 2025
Stock Market Live Updates | Sensex remains 100 points higher at 78,163.20 | Nifty50 maintaining a stable market performance.
BSE Sensex still 100 points ahead at 78,163.20, while the Nifty50 reflects steady market performance. Viacom18 Media is now a direct subsidiary of Reliance Industries. Most sectoral indices, except Metal, Realty, and PSU Bank, traded in the green, with Financials, FMCG, and Banks supporting Sensex gains. Top gainers now include Davangere Sugar (+12.10%), Foce India (+10.23%), and Century Plyboards (+8.30%), while losers are TVS Holdings (-10.70%) and Godfrey Phillips (-5.02%).
12.00 PM IST | 01 Jan 2025
Stock Market Live Updates | Sensex rose 100 points to 78,163.20 | Nifty crossed 23,700
The BSE Sensex gained around 100 points, reaching 78,163.20, while Nifty surpassed the 23,700 mark. Power Mech Projects surged 5% after securing a ₹294 crore order from Adani Power, and ITD Cementation rose 1% following a ₹1,648 crore Vadhvan Port contract win. Mahindra & Mahindra (M&M) shares also advanced by 2%, adding to the positive market momentum.
11:11 AM IST | 01 Jan 2025
Stock Market Live Updates | Sensex and Nifty50 edged lower on Wednesday | Nifty Media index rose 1%.
Indian blue-chip indices, Sensex and Nifty50, traded slightly lower on Wednesday, weighed down by banking stock losses. Markets are expected to remain range-bound ahead of next week’s quarterly earnings season. Paytm shares dropped over 3%, while the Nifty Media index rose 1%, with Hathway Cable and ZEEL leading gains. IREDA surged 6% on strong Q3 loan disbursements, South West Pinnacle climbed 5%, and Shradha Infraprojects fell 5%.
Stock Market Live Updates | Sensex Falls 109 Points | Nifty Remains Flat at 23,644.80
Sensex turned negative after early gains, with Nifty slipping below 23,650. Bajaj Auto fell 2%, while SJVN shares rose 3% after signing a ₹5,663 crore MoU with the Bihar government. Apollo Hospitals led the gainers with a 1.29% rise, while stocks like HUL, Bajaj Finance, and TCS showed minimal movement around 0.01%. Market sentiment remains cautious amid weak GDP and earnings growth, FII selling, and high U.S. bond yields. Recovery hinges on Q3 earnings, budget announcements, and potential rate cuts, with investors advised to track macroeconomic indicators. Va Tech Wabag secured a ₹145 crore order.
GIFT NIFTY: Gift Nifty indicates a cautious start for the Indian market, reflecting global profit-booking trends. Nifty spot is expected to continue consolidating within the 23,450-23,800 range in today’s session.
INDIA VIX: 14.58 | +0.13 (0.92%) ↑ today
Latest Market News
1. Kalpataru Projects bags new orders worth ₹1,011 crore.
2. Piramal Enterprises invests ₹1,000 crore in arm of Piramal Capital & Housing Finance via subscription of rights issue.
3. Prataap Snacks; CCI approves the proposed combination involving the acquisition of 72.8% voting share capital in Prataap Snacks Limited by Authum Investment & Infrastructure Limited and Ms. Mahi Madhusudan Kela.
4. Transformer & Rectifier to consider bonus issue on 8 Jan.
5. FIIs net sell ₹4,645.22 crore DIIs net buy ₹4,546.73 crore in equities yesterday.
PIRAMAL ENTERPRISES LTD
Trade1095.85-29.59 (-2.62 %)
Updated - 03 January 2025
In-Depth Market Insights: Global Outlook, Derivatives & More
Other Asset Classes
Treasury Yields:
The 10-year U.S. Treasury yield rose Tuesday, capping a year that saw the benchmark yield push higher even as the Federal Reserve cut short-term rates. The 10-year Treasury yield finished the day up by about 3 basis points at 4.57%.
Currency:
The dollar index was last up 0.3% on the day at 108.44. It is headed for an annual gain of more than 6%.
Commodities:
Gold prices were poised for an annual surge of over 26%, their biggest yearly rise since 2010, driven by safe-haven demand and central banks’ rate cuts, although the mood could turn more cautious depending on policy shifts under a second Donald Trump presidency.
Spot gold on Tuesday rose 0.7% to $2,622.85 per ounce.
Oil prices fell around 3% in 2024, slipping for a second straight year. Brent crude futures on Tuesday, the last trading day of the year, settled up 0.88%, to $74.64 a barrel.
Asian Markets
General Trends:
Asian Markets are closed on the occasion of the New Year.
India Market Outlook
GIFT Nifty Projection:
Gift Nifty suggests a soft opening to the Indian market amid profit booking in the global market. Nifty spot in today's session is likely to extend consolidation in the range of 23,450-23,800.
Market in Previous Session:
The Nifty showed signs of recovery on Tuesday after retreating from Monday's highs, ending the session on a flat note. The index opened on a weak note and extended its losses in the early session, weighed down by lingering concerns over a rising dollar index and continued FII selling. However, a strong intraday rebound from the day's low of 23,460 levels led to a close on a flat note, reflecting resilience in the market.
At close, the Sensex was down 109.12 points or 0.14 percent at 78,139.01, and the Nifty was flat at 23,644.80.
Small and midcap stocks exhibited strength, recording gains of 0.7 percent and 0.1 percent, respectively. Nifty Pharma led the gains with an increase of nearly 1 percent. Auto stocks saw a modest recovery, rising by 0.4 percent, while oil and gas stocks posted a 1 per cent gain.
TRADE SETUP FOR JAN 01
Nifty Short-Term Outlook:
Index continues to trade with high volatility as it closed the last trading session of CY24 on a flat note after oscillating in a 250 points range. Index has formed a bull candle with small shadows in either direction, signalling a continuation of the consolidation. Buying demand emerged at lower levels around the support of 23,500-23,450.
Going ahead, it is expected to continue its consolidation phase in the broad range of 23,450-24,000. Immediate support levels are positioned at 23,500-23,450 being the confluence of the 200-day EMA and the lower band of the rising channel.
On the higher side, 23,900-24,000 remain as a stiff resistance for the Nifty. Only a move above 24,000 will open further upside towards 24,250. On the downside, a move below 23,450 will signal an extension of decline toward the November low of 23,260.
Intraday Levels:
Nifty: Intraday resistance is at 23,690 followed by 23,800 levels. Conversely, downside support is located at 23,550, followed by 23,460.
Bank Nifty: Intraday resistance is positioned at 51,180, followed by 51,450, while downside support is found at 50,600, followed by 50,330.
Derivative Market Analysis
Nifty:
Highest call OI is positioned at 24500 followed by 24000 level, whereas the highest put OI is positioned at the 23000 level followed by 23200 level.
Put writers were active below 23600 indicating strong support at lower level. On the higher end, if 23900 is broken, index can march towards 24200 levels.
According to option chain analysis, broader range for Nifty is 23500 and 24000.
The Nifty put-call ratio is now positioned at 0.99.
Bank Nifty:
The highest call OI is positioned at 52000 followed by 53000 level, whereas the highest put OI is positioned at the 51000 followed by 51500 level.
Straddle formation is seen at 51000 making it a crucial level to watch for. Breach of 51000 can take the index towards 50000. Key resistance for the index is 52000.
According to option chain analysis, immediate range for Bank Nifty is 51000 and 52000.
The Bank Nifty put-call ratio is now positioned at 0.88.
US Share Market News
Performance Overview:
US Stocks closed lower on Tuesday as investors wrapped up another booming year that hoisted the S&P 500 to its second consecutive annual gain exceeding 20%, spurred by enthusiasm for rate cuts, economic strength and artificial intelligence.
The US market is closed on Wednesday for New Year's Day.
Sector-Specific Movements:
Meanwhile, the Dow added 12.88% in 2024, while the Nasdaq has outperformed with a gain of 28.64% in CY24.
The S&P 500 closed 0.43% lower at 5,881.63, while the Nasdaq Composite dipped 0.9% to 19,310.79 on 2024′s final day of trading. The Dow Jones Industrial Average slipped just 0.07%, or 29.51 points, lower to 42,544.22.
Economic Indicators:
The economic data calendar is largely empty Tuesday, ahead of Wednesday's holiday, and later in the week, investors will scrutinize the Institute of Supply Management's manufacturing activity survey for December and a weekly report on jobless claims, ahead of a key employment report due in the following week.
Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make wise investment decisions.
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Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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