HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Post Session: Quick Review
Jan-10-2025

Indian equity benchmarks witnessed rollercoaster session on last trading day of week with Nifty and Sensex settling below the psychological 23,450 and 77,400 levels respectively. After making positive start, soon markets turned negative following weak cues from Asian counterparts. However, in afternoon session, indices managed to trim their losses to trade flat. But markets once again added losses in last leg of trade.  

Some of the important factors in today’s trade: 

Traders watch for macro-economic data: Traders avoided to take long position ahead of India’s Consumer price inflation (CPI) data. There were expectations that CPI inflation likely to moderate to 5% in December from 5.5% in November. Traders were also stayed away from risky assets ahead of Index of Industrial Production (IIP) data for the month of November to be released later in the day. Factory output growth touched 3.5% in October on the back of higher production of consumer durables and garments.

IT stocks surged after TCS optimistic management commentary: The management of TCS is expecting the current calendar year to be better than 2024. The company reported lower-than-expected US Dollar revenue in Q3, while its net profit and margins grew in-line with expectations.

Worries over U.S. Trade Policies: Traders remained worried on uncertainty over the trade and tariff policies of U.S. President-elect Donald Trump, as he prepares for a second term, kept global investors wary. Concerns over U.S. trade and immigration policies too added to market jitters. Trump is reportedly considering declaring a national economic emergency to justify broad-based tariffs, including a 10 percent levy on global imports.

Global front: Asian markets ended mostly lower after Japan's leading index as well as coincident index declined in November. The preliminary data from the Cabinet Office showed that the leading index, which measures future economic activity, dropped to 107.0 in November from 109.1 in October. European markets were trading mostly higher as investors await U.S. non-farm payroll for some clarity about the outlook on Federal Reserve's possible moves with regard to interest rates. 

The BSE Sensex ended at 77,378.91, down by 241.30 points or 0.31% after trading in a range of 77,099.55 and 77,919.70. There were 8 stocks advancing against 22 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index declined by 2.13%, while Small cap index was down by 2.40%. (Provisional)

The only gaining sectoral indices on the BSE were IT up by 2.65% and TECK was up by 2.24%, while Power down by 3.07%, Utilities down by 2.86%, Realty down by 2.64%, PSU down by 2.47% and Healthcare was down by 2.37% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were TCS up by 5.66%, Tech Mahindra up by 3.63%, HCL Tech up by 3.16%, Infosys up by 2.47% and Bajaj Finserv up by 0.38%. On the flip side, Indusind Bank down by 4.25%, NTPC down by 3.89%, Ultratech Cement down by 3.43%, Sun Pharma down by 2.25% and Axis Bank down by 1.98% were the top losers. (Provisional)

Meanwhile, commerce ministry has asked the commercial wings of Indian Missions of 20 countries to specifically identify market opportunities in six goods and services to promote India's exports. Ways to increase the exports were discussed during a three-day meet, concluded on January 8, between senior officials from the ministry and commercial wings of Indian Missions. The missions were asked to market opportunities in these six sectors, competitors and specific companies.

The meeting was important as the commerce ministry is in the process of formulating a strategy to push exports of six key product categories, including engineering goods and electronics, to 20 focus countries, including the US, Australia, France, China, Russia, the UK, Japan, South Korea, Singapore and Indonesia. These countries, including the US and the European Union nations, account for a major chunk of India's total exports.

After recording double-digit growth in October 2024, India's exports in November contracted 4.85 per cent year-on-year to $32.11 billion. Cumulatively, during April-November this fiscal year, exports increased by 2.17 per cent to $284.31 billion and imports by 8.35 per cent to $486.73 billion. Services exports reached an all-time high of $34.31 billion in October, registering an increase of 22.3 per cent year-on-year.

The CNX Nifty ended at 23,431.50, down by 95.00 points or 0.40% after trading in a range of 23,344.35 and 23,596.60. There were 14 stocks advancing against 36 stocks declining on the index. (Provisional)

The top gainers on Nifty were TCS up by 5.62%, Tech Mahindra up by 3.82%, HCL Tech. up by 3.12%, Wipro up by 2.82% and Infosys up by 2.59%. On the flip side, Shriram Finance down by 5.33%, Indusind Bank down by 4.41%, Adani Enterprises down by 4.18%, NTPC down by 3.78% and Bharat Electronics down by 3.64% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 7.3 points or 0.1% to 7,497.58 and Germany’s DAX was up by 11.67 points or 0.06% to 20,328.77. On the flip side, UK’s FTSE 100 was down by 22.85 points or 0.28% to 8,296.84.

Asian markets settled mostly down on Friday on caution ahead of US December jobs report later today, which may provide clues on the Federal Reserve's interest rate trajectory. Markets sentiments weakened further as 10-year US Treasury yields hovered around nine-month highs after Fed officials are signalled concerns that President-elect Donald Trump's trade and immigration policies could stoke inflation. Seoul shares declined due to profit taking from recent gains mainly in technology shares. Chinese shares fell and the yuan slipped to a new 16-month low as the People's Bank of China halted its government bond purchases amid record-low bond yields. Moreover, Japanese markets dropped amidst Fed and BoJ policy uncertainties.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,168.52

-42.87

-1.35

Hang Seng

19,064.29

-176.60

-0.93

Jakarta Composite

7,088.87

24.28

0.34

KLSE Composite

1,602.41

1.60

0.10

Nikkei 225

39,190.40

-414.69

-1.06

Straits Times

3,801.56

-61.04

-1.61

KOSPI Composite

2,515.78

-6.12

-0.24

Taiwan Weighted

23,011.86

-69.27

-0.30


  RELATED NEWS >>
Most Viewed >>
January 27 , 2025
Bears continue to rule the roost
January 31 , 2025
Highest NAV fund turns Rs 1,000 SIP investors
January 24 , 2025
Corporate law firms, institutional brokers hud
January 24 , 2025
Small IT flaunts strong numbers, spark for eve
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.