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EQUITY
Post Session: Quick Review
Jan-07-2025

Indian equity markets snapped two day losing streak on Tuesday as traders preferred to buy stock at lowest levels. It was a choppy day of trade as investors speculated on the possible outcomes of President-elect Donald Trump's tariff plans. Besides, IT stocks faced selling pressure ahead of TCS's Q3 earnings announcement on Thursday. As for broader indices, the BSE Mid cap index and Small cap index ended in green.

Markets made positive start and soon turned volatile amid human metapneumovirus (HMPV) virus fear. However, further markets managed to trade higher as traders took encouragement with Prime Minister Narendra Modi’s statement after US National Security Advisor Jake Sullivan met him that the India-US comprehensive global strategic partnership has scaled new heights, including in areas of technology and defence. Some support also came as with domestic rating agency ICRA’s report stated that securitization volumes jumped 80 per cent on-year to Rs 68,000 crore in the December quarter (Q3FY25), and has also upped its estimates on total volumes for this financial year (FY25). In afternoon session, indices continued to trade in green. Sentiments were upbeat as private report said India's Consumer Price Index (CPI) inflation is expected to moderate to 5 per cent in December 2024 from 5.5 per cent in November. The report highlighted a positive outlook on inflation, driven by significant corrections in the prices of key vegetables such as tomatoes, onions, and potatoes. In late afternoon session, indices trim some gains and ended in green territory.

On the global front, European markets were trading mostly in green amid data on euro area inflation for the month of December, due later this morning, is expected to provide some direction. Asian markets ended mostly in green, even as the monetary base in Japan was down 1.0 percent on year in December, coming in at 658.524 trillion yen. That missed expectations for an annual decline of 0.2 percent following the downwardly revised 0.3 percent contraction in November (originally -0.1 percent). Back home, the Centre is expected to release the next instalment of special assistance to states even if they have not met capital expenditure targets. In July 2024, the Centre increased the budgetary allocation under the programme to Rs 1.5 lakh crore, a significant rise from Rs 1.05 lakh crore in the previous fiscal.

The BSE Sensex ended at 78,199.11, up by 234.12 points or 0.30% after trading in a range of 77,925.09 and 78,452.74. There were 20 stocks advancing against 10 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index gained 0.77%, while Small cap index was up by 1.74%. (Provisional)

The top gaining sectoral indices on the BSE were Energy up by 1.55%, Oil & Gas up by 1.47%, Industrials up by 1.43%, Basic Materials up by 1.34% and Healthcare was up by 1.18%, while TECK down by 0.51% and IT down by 0.36% was the only losing indices on BSE. (Provisional)

The top gainers on the Sensex were Tata Motors up by 2.25%, Reliance Industries up by 1.86%, Indusind Bank up by 1.44%, ICICI Bank up by 1.28% and Asian Paints up by 1.10%. On the flip side, Zomato down by 4.59%, HCL Tech down by 1.73%, TCS down by 1.62%, Tech Mahindra down by 0.94% and Infosys down by 0.39% were the top losers. (Provisional)

Meanwhile, Finance Minister Nirmala Sitharaman has concluded month-long consultations with various stakeholders, including representatives of the industry and social sectors, as part of the budget preparation exercise. The consultations started on December 6, 2024. The Finance Ministry in a statement said ‘In the course of the in-person consultations, more than 100 invitees across 9 stakeholder groups, including experts and representatives from farmer associations & agriculture economists; trade unions; education & health sector; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings’.

In the course of the consultations, Sitharaman expressed gratitude to the participants for sharing valuable suggestions and assured experts and representatives that their suggestions would be carefully examined and considered while preparing the Union Budget 2025-26. Additionally, from January 10, 2025, citizens may share their valuable suggestions and ideas for the Union Budget 2025-26 on the MyGov platform. Citizens are encouraged to actively participate in this annual initiative, aimed at making the Budget-making process more inclusive with the spirit of ‘Jan Bhagidari’.

The Ministry of Finance and MyGov eagerly look forward to receiving innovative and constructive suggestions from citizens across the country. To submit the suggestions, citizens can visit the MyGov platform and contribute towards building a Viksit Bharat. Union Minister for State for Finance Pankaj Chaudhary; Finance Secretary and Secretary DIPAM, Tuhin Kanta Pandey; Economic Affairs Secretary, Ajay Seth; Financial Services Secretary, M Nagaraju; Secretaries of Ministries concerned, Chief Economic Adviser, V Anantha Nageswaran, and senior officers from the Ministry of Finance and Ministries concerned were also present during relevant meetings. Union Budget 2025-26 is likely to be tabled in Parliament on February 1.

The CNX Nifty ended at 23,707.90, up by 91.85 points or 0.39% after trading in a range of 23,637.80 and 23,795.20. There were 34 stocks advancing against 16 stocks declining on the index. (Provisional)

The top gainers on Nifty were ONGC up by 3.59%, SBI Life up by 3.00%, HDFC Life Insurance up by 2.29%, Tata Motors up by 2.19% and Reliance Industries up by 1.88%. On the flip side, HCL Tech down by 1.90%, Trent down by 1.77%, TCS down by 1.63%, Eicher Motors down by 1.39% and Hero MotoCorp down by 0.97% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 14.95 points or 0.2% to 7,460.64 and Germany’s DAX was up by 13.41 points or 0.07% to 20,229.60. On the flip side, UK’s FTSE 100 was down by 19.82 points or 0.24% to 8,229.84.

Asian markets ended mostly higher on Tuesday tracking an overnight rally in technology shares on Wall Street and after US President-elect Donald Trump denied a newspaper report that his team is looking into scaling back his promise to impose universal tariffs on imports. Japanese shares led regional gains as a weaker yen boosted export-related shares. Moreover, Chinese shares gained even after the United States' decision to blacklist several Chinese firms, including tech giant Tencent Holdings, alleging their involvement with the Chinese military. Although, investors are cautiously awaiting the minutes of the US Federal Reserve's December policy meeting due on Wednesday followed by the US non-farm payrolls report due on Friday.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,229.64

22.72

0.70

Hang Seng

19,447.58

-240.71

-1.24

Jakarta Composite

7,083.28

2.81

0.04

KLSE Composite

1,629.79

4.32

0.27

Nikkei 225

40,083.30

776.25

1.94

Straits Times

3,828.17

6.33

0.17

KOSPI Composite

2,492.10

3.46

0.14

Taiwan Weighted

23,651.27

103.56

0.44


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