Summary of India's Stock Market Performance on Tuesday, January 9th:
· Benchmark indices: Sensex gained 0.04%
and Nifty 50 gained 0.15% after erasing early gains.
· Market volatility: Fluctuations
throughout the day, with Nifty facing resistance near 21,750-21,800.
· Sector performance: Media sector was
the biggest loser, while Realty was the top gainer.
· Broader market: Mixed performance,
with small-cap index rising and mid-cap index flat.
· Market breadth: Positive, with more
stocks gaining than declining.
· Both
Sensex and Nifty indices closed slightly higher, but pared intraday gains due
to selling pressure in the second half.
· Trend
remains fragile despite closing in green, with support at 21,500 and resistance
near 21,750-21,800.
· Broader
markets performed mixed, with small-caps outperforming mid-caps.
Sector
Performance:
·
Losers: Nifty Media (-3.44%), S&P BSE
Bankex (-0.45%)
·
Gainers: Nifty Realty (+2.42%), S&P BSE
Realty (+2.52%)
·
Larsen
& Toubro Ltd (L&T)
·
Bharti
Airtel Ltd
·
Infosys
Ltd
·
Adani
Ports and Special Economic Zone Ltd
·
Sun
Pharmaceutical Industries Ltd
Top
Losers:
·
HDFC
Bank Ltd
·
Reliance
Industries Ltd
·
ICICI
Bank Ltd
·
Axis
Bank Ltd
·
Asian
Paints Ltd
· Market
breadth was positive, with more stocks gaining than declining.
· The
afternoon selling pressure was attributed to profit-booking and concerns over
global cues.
· The
ongoing trend remains uncertain, with resistance levels holding strong.
Overall:
While the indices closed
slightly higher, the Indian market displayed underlying volatility and cautious
sentiment. Investors should remain vigilant and monitor global factors and
sector-specific news before making investment decisions.
Indian Stock Market News
Polycab stock went down nearly 9 percent after
reports said that the income-tax department had demanded Rs 200 crore for
evasion from the company.
Bharat Forge stock gained 1.5 percent after the
company agreed to invest Rs 1,000 crore over the next five years to expand its
manufacturing operations in Tamil Nadu.
Larsen and Tourbo stock gained 1.68 percent after
the company won an order to develop AIIMS in Haryana. Larsen & Toubro
Construction’s buildings and factories business secured the “significant” order
from HITES, a mini-Ratna PSE under the health and family welfare ministry, it
said without disclosing the value of the project.
Lemon Tree Hotels stock surged 2 percent after
the company announced signing a new property in Meerut, Uttar Pradesh. The
hotel is expected to be operational from FY25, the company said.
IRB Infrastructure Developers gained 8 percent
and hit a 52- week high after the company reported a 26 percent YoY growth in
toll collection at Rs 488 crore in the December quarter.
Gensol Engineering gained 3.26 percent after
the company executed a Rs 2,000-crore MoU with the Gujarat government to
manufacture electric vehicles.
Capacite Infra shares surged 2.59 percent after
the company launched a QIP for Rs 200 crore. The floor price of the QIP has
been set at Rs 264.89 apiece, a 4 percent discount from the closing price in
the previous session.
SG Mart gained 2 percent after the company’s board approved a bonus share issue and sub division of equity shares. The board approved a 1:10 split of the company’s equity shares - one share having a face value of Rs 10 to be divided into 10 shares of rupee 1 each-- subject to the approval of shareholders
Inox Wind rose 2 percent intraday after winning a wind power project by NLC India but gave up the gains to close 3.56 percent lower.
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