Nifty Today Live: Tech Versus Rest

All 12 sectoral indices on the NSE is down, except Nifty IT. Nifty Media and Nifty PSU Bank are faring the worst amid correction in the benchmark Nifty 50.

All IT stocks are up. TCS is up 3.9%, followed by LTIMindtree and Tech Mahindra.

Sensex Today Live: Benchmark Sheds Nearly 500 Points

The BSE Sensex has shed nearly 500 points within the first hour of trading. It is trading 0.63% lower at 77,131.

Shriram Finance Share Price Drops On Stock Split Ex-Date

Shares of Shriram Finance Ltd. fell by nearly 2% on Thursday as investors await the company’s upcoming stock split. The ex-date for the 1:5 sub-division of equity shares is scheduled for January 10, meaning investors looking to benefit from the split need to purchase shares before the market closes on Thursday.

IREDA Share Price Gains After Q3 Profit

Indian Renewable Energy Development Agency Ltd.’s share price rose over 3% on Friday, as the company reported a net profit of Rs 425 crore for the quarter ending Dec. 31, 2024, reflecting a 26.7% year-on-year increase. In the same quarter of the previous year, the company had posted a net profit of Rs 336 crore.

Read story here.

Nifty Today Live: Why Are Markets Cracking?

Nifty has entered correction zone, meaning it has declined over 10% from its 52-week high. Factors contributing to the fall include selloff by foreign institutional investors, weaker rupee, poor earnings forecast and India’s economic slowdown.

Nifty Today Live: Benchmark Enters Correction Zone

The benchmark Nifty 50 has entered the correction zone for the second time in two months. The index has declined over 10% from its 52-week high of 26,178 in late September. It was trading at 23,480 at 9:45 a.m.

Nifty was in correction territory in late November as well when it dipped below 23,400.

Stock Market Live Updates: Smallcaps, Midcaps Down

The Nifty Smallcap 250 falls nearly 2%, decline third day in a row. The index is down 8.3% in one month.

The Nifty Midcap 250 is down 1.1%. Adani Wilmar is down 8.4% as its offer for sale opens today. Sundaram Finance is the top gainer, followed by Persistant Systems.

Nifty Bank Live: Bank Stocks Down

Bank stocks are trading lower after market open. Nifty Bank index fell 0.4%. IndusInd Bank fell after Goldman Sachs downgraded the stock to ‘neutral’.

Stock Market Live Updates: Nifty IT Surges, Nifty Realty Follows

Nifty IT surged over 2.4% after market open as investors shed caution on IT stocks after TCS guided for better results this year. Realty stocks also climbed.

Stock Market Live: Nifty, Sensex Open Higher

Indian equities opened higher on Friday after TCS Q3 results met estimates and management commentary exuded confidence in future guidance.

The Nifty 50 opened 0.11% higher at 23,551.9 while the BSE Sensex gained 60 points of 0.08% to 77.682.59.

Nifty IT, Nifty Bank In Focus

After TCS’s Q3 result and management commentary, IT stocks will be in focus. Nifty IT is trading in green during pre-open.

Banks will also draw attention after previous day’s decline.

Ceinsys Tech Order Win

Ceinsys Tech received letter of intent for an order worth Rs 381 crore from Vidarbha Irrigation Development, Nagpur for river link project.

Yield On The 10-Year Bond Opens Flat

The yield on the 10-year bond opened flat at 6.76%. It closed at 6.76% on Thursday.

Source: Bloomberg

Rupee Vs Dollar Today: Indian Currency Opens Lower

Rupee weakened by 2 paise to open at 85.88 against the US Dollar. It closed at 85.86 on Thursday.

Source: Bloomberg

The dollar index is 0.04% higher at 109.21. Brent crude is up 0.3% to $77.15.

Read story here.

Nomura On India Consumer Outlook 2025

Nomura has shared its outlook for the Indian consumer sector for 2025, highlighting that volume growth is expected to remain range-bound and below the long-term average.

The brokerage believes that companies will continue to implement gradual product price hikes. Organized players are likely to recover market share from regional and unorganized brands. However, margin expansion in 2025 is expected to be limited as companies prioritize volume growth. Despite these challenges, Nomura views risk-weighted sector valuations as reasonable.

Picks:

  • Maintain Buy on Marico, target price of Rs 760 (19% upside)

  • Maintain Buy on HUL, target price Rs 3,100 (29.1% upside)

  • Maintain Buy on ITC, target price Rs 575 (27.9% upside)

IndusInd Bank Share Price Target: Goldman Sachs Downgrade To Neutral

Goldman Sachs has downgraded IndusInd Bank to “Neutral” with a target price of Rs 1,090, implying an upside of 11%. The firm has cut its EPS estimates by 5%, 16%, and 18% for the coming years due to several factors, including a slowdown in revenue growth over the last two quarters and concerns about rising delinquencies in the commercial retail portfolio.

Slower loan growth is also expected to weigh on profitability, with an average return on assets (ROA) of 1.3% projected for FY25-27. While EPS growth is estimated to have a CAGR of 1% for FY24-27 and 16% for FY25-27, valuations appear fair, and the risk-reward profile is viewed as balanced.

Nifty Today: Check Today’s Projected Range

Nifty is likely to trade between 23,250 to 23,800 with a slight weakening bias. Bank Nifty is also likely to trade in a lower range between 48,800 to 49,900, according to IFA Global.

“India VIX is higher by 1.3% as we enter the corporate earnings season and market participants become more cautious. 23,500 is a key support for Nifty and if that is breached then we may see a fall towards 23,260 and the overall structure could become sell on rise in the near term,” the note said.

Rupee Vs Dollar: Check Today’s Trading Range

The Indian Rupee ended flat at 85.86 on Thursday, after trading within a narrow intraday range of 85.85 to 85.93.

The currency is expected to open around 85.88 and is likely to trade in a range of 85.80 to 85.93 with a sideways price action anticipated during the session, according to India Forex And Asset Management Pvt.

Meanwhile, the 1-year forward yield remained unchanged at 2.70%. On the other hand, the 3-month at-the-money-forward (ATMF) implied volatility rose by 15 basis points, closing at 3.28%.

TCS Q3 Results Review: What Brokerages Say

Information technology bellwether, Tata Consultancy Services Ltd.’s third-quarter earnings “ticked all boxes”, with the management commentary being the most positive over the last two years, according to analysts.

The management commentary showed early signs of revival in discretionary spending leading to a bright outlook, Nuvama Institutional Equities said. The tech giant expects calendar year 2025 growth to be higher than the previous year, implying high single-digit growth in developed markets, it said.

Good deal wins is an early sign of discretionary spend pick-up and reduced deal cycles, according to HSBC. “Though, commentary provides some confidence,” it said, acknowledging TCS’ leadership in scale, operational efficiency and market positioning in emerging technologies, going into 2025.

Read story here.

Nifty Today: What F&O Cues Indicate

  • Nifty January futures down by 0.46% to 23,671 at a premium of 145 points.

  • Nifty January futures open interest up by 5.52%.

  • Nifty Options Jan. 16 Expiry: Maximum call open interest at 25,150 and maximum put open interest at 24,550.

  • Securities in ban period: Bandhan bank, Hindustan Copper, Manappuram Finance, RBL Bank, LTF.

Dollar Check

The US Dollar index is up 0.02% at 109.19.

  • Euro up 0.02% at 1.0299

  • Pund down 0.02% at 1.2303

  • Yen up 0.13% at 158.26

Stock Market News Live: Global Check

The US markets were closed on Thursday to mourn the death of former President Jimmy Carter. Brent crude was trading 1.30% higher at $77.2 a barrel as of 6:30 a.m. Gold spot was flat at $2,670.56 an ounce.

In Asia, Japan’s benchmark Nikkei dropped 0.9%, while Australia’s S&P/ASX 200 was down 0.5%. South Korea’s Kospi index was down 0.15%.

Stock Market News Live: GIFT Nifty Below 23,600

The GIFT Nifty was trading below 23,600 early Friday. The futures contract based on the benchmark Nifty 50 was 0.03% or 8 points lower at 23,583 as of 7:32 a.m.

The Indian equities ended lower for the second day in a row on Thursday, as investors shed their risk appetite and raised guard before the start of the third-quarter earnings season.

The NSE Nifty 50 ended 162.45 points or 0.69% lower at 23,526.5, while BSE Sensex lost 528.28 points, or 0.68% to close at 77,620.21. During the session, the Nifty declined as much as 0.78% to an intraday low of 23,503.05, while the Sensex fell 0.77% to 77,542.92.

. Read more on Markets by NDTV Profit.Nifty has entered correction zone, meaning it has declined over 10% from its 52-week high. Sensex is down 0.6% or 450 points lower.  Read MoreMarkets, Business, Notifications 

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