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EQUITY
Post Session: Quick Review
Jan-14-2025

Snapping 4-day losing streak, Indian equity benchmarks managed to end in green on Tuesday. After an optimistic start, firm trade persisted over the Dalal Street during the whole trading session, as several counters attracted bargain hunting after four successive days of losses. The data reports showing a drop in the nation's consumer price inflation and rise in direct tax collection also contributed to the positive mood in the markets. 

Some of the important factors in today’s trade:

Consumer price inflation eases in December: Sentiments were positive as retail inflation eased to a four-month low of 5.22 percent in December compared to 5.48 percent in November. The inflation based on Consumer Price Index (CPI) was 5.69 percent in December 2023.

Net direct tax collection grows: Adding optimism among traders, 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).

India's steady GDP growth outlook: Investors got relief as Fitch Ratings in its January update of the 'India Corporates Credit Trends' report has said that India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.

Wholesale inflation surges in December: Gains were limited in the markets as inflation based on wholesale price index (WPI) in India surged in the month of December 2024 to 2.37% as compared to 1.89% in November 2024, due to increase in prices of non-food articles, electricity and coal.

Global front: European markets were trading higher, as Italy's industrial production increased for the second straight month in November. The data from the statistical office ISTAT showed that industrial output rose 0.3 percent month-over-month in November, following a 0.1 percent rebound in October. Asian markets settled mixed on Tuesday, even after a measure of the public assessment of the current situation of the Japanese economy improved for the second straight month in December, while outlook weakened.

The BSE Sensex ended at 76499.63, up by 169.62 points or 0.22% after trading in a range of 76335.75 and 76835.61. There were 19 stocks advancing against 11 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index rose by 2.13%, while Small cap index was up by 1.69%. (Provisional)

The top gaining sectoral indices on the BSE were Utilities up by 5.21%, Power up by 4.50%, Metal up by 3.51%, PSU up by 3.39% and Telecom up by 2.54%, while IT down by 1.70%, TECK down by 1.22% and FMCG down by 1.01% were the few losing indices on BSE. (Provisional)

The top gainers on the Sensex were Adani Ports & SEZ up by 5.18%, NTPC up by 4.22%, Tata Steel up by 3.29%, Zomato up by 2.93% and Tata Motors up by 2.64%. On the flip side, HCL Tech. down by 8.32%, Hindustan Unilever down by 3.48%, Titan down by 1.37%, TCS down by 1.14% and Infosys down by 1.11% were the top losers. (Provisional)

Meanwhile, Principal Secretary to the Prime Minister P K Mishra has said that India's agriculture sector is poised for stronger growth in the 2024-25 fiscal year, driven by favourable monsoon conditions. He said the agriculture and allied sector had seen a reduction in growth rate to 1.4 per cent in FY24. However, he said agriculture minister Shivraj Singh Chouhan had recently indicated that the sector could see 3.5-4 per cent growth this fiscal year, riding on good monsoon.

Mishra said between 2016-17 and 2022-23, agriculture and allied sectors saw an average annual growth rate of 5 per cent, supported by strong performance in livestock and fisheries. The sector also proved resilient during the Covid-19 pandemic, contributing significantly to overall economic growth. However, challenges remain in pulses and oilseeds production. While pulses output has increased to 24-25 million tonnes from 14 million tonnes a decade ago, India is not yet self-sufficient.

He said ‘a lot of research is going on and we should be making significant progress.’ Talking about high taxes on farm inputs and equipment, he said agricultural issues cannot be viewed in isolation from broader tax policy considerations. There are many tax issues and that need to be looked at more holistically.

The CNX Nifty ended at 23176.05, up by 90.10 points or 0.39% after trading in a range of 23134.15 and 23264.95. There were 34 stocks advancing against 16 stocks declining on the index. (Provisional)

The top gainers on Nifty were Adani Enterprises up by 6.98%, Hindalco up by 4.82%, Adani Ports & SEZ up by 4.73%, Shriram Finance up by 4.41% and NTPC up by 4.09%. On the flip side, HCL Tech. down by 8.84%, Hindustan Unilever down by 3.39%, Apollo Hospital down by 1.94%, Titan down by 1.78% and TCS down by 1.35% were the top losers. (Provisional)

European markets were trading higher; UK’s FTSE 100 increased 7.85 points or 0.1% to 8,232.04, France’s CAC rose 68.14 points or 0.92% to 7,476.78 and Germany’s DAX gained 126.19 points or 0.63% to 20,259.04.

Asian markets settled mixed on Tuesday tracking Wall Street’s mixed cues overnight, even after news that US President-elect Donald Trump's economic team is discussing a cautious and slow approach in implementing tariff hikes to avoid an inflation spike. Investors were focusing now on the release of US inflation data this week. Chinese and Hong Kong shares gained as China's securities regulator said it was looking at ways to provide more stability to markets after another run of poor performances sparked by worries over the world's number two economy and Trump's threatened tariffs.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,240.94

80.18

2.47

Hang Seng

19,219.78

345.64

1.80

Jakarta Composite

6,956.66

-60.22

-0.86

KLSE Composite

1,576.46

-9.13

-0.58

Nikkei 225

38,474.30

-716.10

-1.86

Straits Times

3,788.77

-2.93

-0.08

KOSPI Composite

2,497.40

7.84

0.31

Taiwan Weighted

22,797.52

309.19

1.36
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