HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Equity benchmarks trade firm in early deals; WPI data eyed
Jan-14-2025

Indian equity benchmarks made an optimistic start and are trading firm in early deals on Tuesday amid lower-than-expected retail inflation print for December and a strong buying trend from domestic institutional investors (DIIs) in the face of continued selling by foreign institutional investors (FIIs). The domestic investors added Rs 8,000 crore worth of Indian equities on Monday. On the contrary, foreign investors sold nearly Rs 4,900 crore worth of Indian equities. Traders took encouragement as India’s retail inflation rate, based on the Consumer Price Index, fell to a 4-month low of 5.22 per cent in December as prices of vegetables, pulses and sugar eased during the month bringing respite to household budgets. Now, investors are eyeing the release of December Wholesale Price Index (WPI) data later today. 

On the global front, Asian markets are trading mixed following the mixed cues from Wall Street overnight, as markets in the region cheered news that President-elect Donald Trump's economic team is discussing a cautious and slow approach in implementing tariff hikes to avoid an inflation spike.

Back home, stocks of renewable energy sector are in focus as the statement by Ministry of New & Renewable Energy (MNRE) said India's renewable energy installed capacity increased by 15.84 per cent to 209.44 GW by December 2024 from 180.80 GW a year ago, marking a record expansion.

The BSE Sensex is currently trading at 76665.92, up by 335.91 points or 0.44% after trading in a range of 76335.75 and 76779.49. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 1.11%, while Small cap index was up by 0.56%.

The top gaining sectoral indices on the BSE were Utilities up by 3.10%, Power up by 2.47%, Metal up by 2.31%, PSU up by 1.84% and Telecom up by 1.65%, while IT down by 1.57%, TECK down by 1.01% and FMCG down by 0.38% were the few losing indices on BSE.

The top gainers on the Sensex were NTPC up by 3.69%, Indusind Bank up by 3.56%, Zomato up by 3.50%, Tata Motors up by 3.05% and Adani Ports & SEZ up by 2.81%. On the flip side, HCL Technologies down by 8.71%, Tech Mahindra down by 1.42%, Infosys down by 1.10%, Hindustan Unilever down by 1.02% and Nestle down by 0.51% were the top losers.

Meanwhile, the government data has showed that the net direct tax collection grew 15.88 per cent to about Rs 16.90 lakh crore so far in the current fiscal year (between April 1, 2024, and January 12, 2025). As per the data by the Central Board of Direct Taxes (CBDT), mop-up from net non-corporate taxes, which include mainly personal income tax, stood at over Rs 8.74 lakh crore.

The net corporate tax collection between April 1, 2024, and January 12, 2025, was around Rs 7.68 lakh crore. Net collections from securities transaction tax (STT) stood at Rs 44,538 crore so far this fiscal. Refunds worth over Rs 3.74 lakh crore were issued during the period, a 42.49 per cent increase over the year-ago period.

Gross direct tax mop up between April 1 and January 12 grew 20 per cent to over Rs 20.64 lakh crore. The government has budgeted to collect Rs 22.07 lakh crore in the current fiscal from direct taxes. This includes Corporate tax collection of Rs 10.20 lakh crore, personal income tax and other taxes of Rs 11.87 lakh crore.

The CNX Nifty is currently trading at 23175.80, up by 89.85 points or 0.39% after trading in a range of 23150.05 and 23227.20. There were 37 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 4.05%, NTPC up by 3.60%, Indusind Bank up by 3.53%, Tata Motors up by 3.04% and Adani Ports & SEZ up by 2.90%. On the flip side, HCL Technologies down by 8.96%, Tech Mahindra down by 1.63%, Infosys down by 1.11%, Hindustan Unilever down by 0.85% and Apollo Hospital down by 0.78% were the top losers.

Asian markets are trading mixed; Hang Seng jumped 266.99 points or 1.41% to 19,141.13, Taiwan Weighted rose 243.03 points or 1.08% to 22,731.36, Shanghai Composite strengthened 55.24 points or 1.72% to 3,216.00 and KOSPI increased 4.85 points or 0.19% to 2,494.41. On the other hand, Nikkei 225 slipped 865.39 points or 2.21% to 38,325.01, Jakarta Composite fell 13.65 points or 0.19% to 7,003.23 and Straits Times was down by 5.12 points or 0.14% to 3,786.58.
  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.