Sensex Nosedives 1200 Points, Nifty Below 23700: New Year Party Over? What's Dragging The Market Down

The Indian stock markets faced a sharp decline today, with both Nifty and Sensex closing significantly lower.

Nifty 50 ended at 23,630.00, down 374.75 points (-1.56%), after opening at 24,045.80.

Top gainers: Apollo Hospitals, Tata Steel, Titan, HCL Tech, and Dr. Reddy's.
Top losers: Trent, Tata Steel, NTPC, Coal India, and BPCL.
Sensex closed at 78,008.27, falling 1,214.84 points (-1.53%), after opening at 79,281.65.

Top gainers: Titan, HCL Tech, and ICICI Bank.
Top losers: Tech Mahindra, Bajaj Finance, Tata Motors, Axis Bank, SBI, and Power Grid.
All Nifty sectoral indices ended in the red, with PSU Bank leading the losses, followed by Metal, Pharma, Realty, and Media.

Arkade Developers Limited has added 3 new redevelopment projects in key micro-markets within Western Suburbs of Mumbai. Collectively, Arkade will be developing 20,232 square meters (Approx. 5 Acres) across these redevelopment projects located in Andheri East, Malad West and Borivali West. The projected saleable carpet area is approx. 5.85 lakh sq. ft generating a projected turnover of Rs 2150 Cr.

As per indicative close its showing the Sensex will close at 77,956.43 down by 1266.68 pts -1.62 %. Nifty will close at 23,585.45 down by 419.30 or -1.75% 

‘Monday blues hit the Indian markets due to some continuing issues and a fragile sentiment due to the emergence of HMPV cases in India. The continuing issues are the slowing Indian economy , the muted corporate earnings growth, the FPI selling in the secondary markets and the global pressure due to the strong US dollar and high US yields,' Ajay Bagga, Market Expert 

Visakhapatnam Port Authority (VPA) and Rail Vikas Nigam Limited (RVNL) have executed Memorandum of understanding (MOU) for “Construction of internal flyovers to enhance the smooth evacuation of cargo and eliminate the eleven (11) level crossings that currently hindering the free flow of traffic at VPA

Nifty PSU banks decline by almost 5%, leading the loss Union Bank, Bank of Baroda, Bank of India, IOB & PNB

The Nifty sectoral indices are witnessing a sea of red, with all sectors in the negative. The PSU Bank index is bleeding the most, down by nearly 5%, followed by declines in IT, Media, Bank, Auto, FMCG, Pharma, and Realty sectors.

Ashima Capital Management Limited (“ACML”), a wholly owned subsidiary of Ashima Limited, has been granted registration as Portfolio Managers under SEBI (Portfolio Managers) Regulations, 2020 by The Securities and Exchange Board of India today.

LTIMindtree Limited  has announced that the Board of Directors of the Company will be held on Thursday, January 16, 2025, inter‐alia, to consider, approve and take on record, the unaudited standalone and consolidated financial results of the Company for the quarter and nine months ended December 31, 2024, along with the Limited Review Report(s) of
the Statutory Auditor thereon

India VIX up by 14%. Volatility Index is a measure of the market’s expectation of volatility over the near term. 

Gainers - Tata Consumer, Apollo Hospital, Titan, Infosys and TCS 
Losers - Tata Steel, Trent, Kotak Bank, Coal India and BPCL

It seems like the entire market is experiencing a bloodbath today, with all sectoral indices in the red. Leading the declines is the Nifty PSU Bank index, which is down by more than 3%, followed by sharp drops in Banking, Auto, Financial Services, FMCG, Media, Metal, Pharma, Realty, and Oil & Gas sectors.

Currently, the Nifty stands at 23,755.85, reflecting a loss of 248.90 points (-1.04%). Despite opening on a positive note at 24,045.80, the index has struggled throughout the day.

Berger Paints India meeting for Q3 results  will be held on Tuesday, 11th February, 2025, to inter-alia, consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company.

Airtel has installed 287 new sites, optimized over 340 existing sites and has laid an additional 74 kilometers of fiber in the city to enhance mobile coverage. Within the Kumbh mela premise,
that spans several kilometers, the company has deployed 78 active cell on wheels (COW). These measures will ensure seamless connectivity not only within the mela premise but also
cover highways, railway stations, airport, hotels and high footfall areas across the Prayagraj city.

Wardwizard Innovations & Mobility Limited has signed a Memorandum of Understanding (MoU) with C4V, a New York-based lithium-ion battery technology company specialized in battery cell design and optimization.

Page Industries Limited Appoints Mr Karthik Yathindra as Chief Executive Officer

The Sensex experienced a sharp plunge today, shedding over 1,200 points and erasing early gains. After opening slightly higher, the index witnessed significant volatility before succumbing to selling pressure. At 12 PM, the Sensex was trading at 77,964.82, down 1,258.29 points or 1.59%.

The market breadth remained overwhelmingly negative, with all 30 Sensex components in the red, as depicted in the Sensex heatmap. Major laggards included Tata Steel, Power Grid, Asian Paints, NTPC, Adani Ports, Nestle India, and Maruti Suzuki, contributing heavily to the downturn.

KPI Green Energy has approved the allotment of 6,56,30,202 (Six Crores Fifty-Six Lakhs Thirty Thousand Two Hundred and Two) equity shares having face value of Rs.5/- each as bonus equity shares, in the ratio of One (1) equity share having face value of Rs. 5/- each for every Two (2) existing equity share having face value of Rs. 5/- each

Reliance Home Finance announced that the Board of Directors of the Company will meet on Wednesday, January 08, 2025, inter-alia, to consider and approve the Company’s Unaudited Financial Results for the quarter and half year ended September 30, 2024.
 

Shares of Easy Trip Planners jumped by more than 17% in early trading on Monday following a confirmation from its former CEO and promoter, Nishant Pitti, that there would be no further sale of promoter stake in the company.

It’s been a volatile day for both Sensex and Nifty as they opened slightly higher but quickly lost momentum. Despite a brief attempt to recover, both indices find themselves in a sea of red. The Sensex has dropped by 800 points, while Nifty is trading below 23,800. In the Sensex heatmap, only three stocks—Titan, Bajaj Finance, and ICICI Bank—are in the green, while the remaining 27 stocks are in the red. Similarly, in the Nifty index, 379 stocks have advanced, but a concerning 2,221 stocks are in decline.

Gujarat Toolroom has announced the issue of bonus shares in the ratio of 5:1 i.e., 5 (five) new fully paid-up equity shares of ₹ 1/- (Rupee One Only) each for every 1 (one) existing fully paid-up equity share of ₹ 1/- (Rupee One Only) each, to the eligible equity shareholders of the Company as on the record date, January 03, 2025, by the capitalization of securities premium received in cash and/or free reserve.

Waaree Energies has today initiated the commencement of trial production at its state-of-the-art 5.4 GW solar cell manufacturing facility in Chikhli, Gujarat.

Shares of ITC Ltd fell by 6% in early Monday trading after the company spun off its hotel business into a separate entity, which is expected to be listed on the stock exchanges soon. However, this drop in share price is largely notional, reflecting the value of the damaged hospitality business.

ITC’s share price settled at Rs 455 apiece on the BSE, compared to the previous closing price of Rs 482. On the NSE, ITC’s stock settled at Rs 455.60, down from Rs 481.60. This difference led to the discovery of ITC Hotels’ share price at Rs 27 per share on the BSE and Rs 26 per share on the NSE.
 

India's VIX is up by more than 5%. Volatility Index is a measure of the market’s expectation of volatility over the near term. 

Nifty PSU Bank declines by nearly 3%, leading the loss of Union Bank, Bank of Baroda, PNB, SBI & IOB

Gainers - Bajaj Finance, Titan, Bajaj FinServ, ITC and Infosys
Losers - Tata Steel, Kotak Bank, BPCL, Nestle India & Coal India 

In the sectoral indices, Nifty PSU bank fell by almost 3%, followed by banks, FMCG, Metal, Pharma, Realty & Oil and gas. In the gaining streak, IT is leading with 0.80%, followed by auto & consumer durables 

Titan shares surged following the company  reported a remarkable 24% year-over-year (YoY) standalone growth for Q3 FY25, fueled by festive demand across its segments. The jewelry business led the way to a 26% YoY increase, driven by high-ticket sales during Diwali and a surge in gold coin purchases, which rose 48% YoY. Watches & wearables saw a 15% YoY growth, while eyewear clocked an 18% rise. CaratLane, Titan’s jewellery subsidiary, expanded internationally with its first store in New Jersey, USA, and recorded a strong 25% YoY growth. Overall, Titan's retail footprint grew by 69 stores, reaching 3,240 globally by December 2024.

According to grey market trackers, the GMP for Standard Glass Lining IPO was last updated at Rs 97 on January 6, 2025. With a cap price of Rs 140, the estimated listing price is Rs 237, reflecting a projected gain of 69.29% per share. 
 

Ceenik Exports has approved allotment of 6,70,000 Equity Shares having face value of Rs.10 /- each as fully paid-up Bonus Equity Shares, in the ratio of 1:5 i.e. 1 (One) New Equity Share having face value of Rs.10 /- each for every existing 5 (Five) equity shares having face value of Rs.10 /- each held, to those Shareholders whose names appear in the Register of Members on the record date fixed for this purpose. 
 

Gainers - Titan, Bajaj Finance, Tech Mahindra, HCL Tech, Nestle India & TCS
Losers - NTPC, HUL, Adani Ports, Tata Steel & Tata Motors 

The Sensex opened at 79,281.65, reflecting a slight increase from the previous close of 79,223.11. Meanwhile, the Nifty opened at 24,045.80, showing a positive movement from its previous close of 23,988.70.
 

Pritika Auto Industries Limited has announced the start of commercial production of the ordered components from a leading multinational Tractor Manufacturer in India after successfully completing inspection and trials at the customer end. The components include - Differential Housing Assembly, Front Cover CCF & Link Top Link Crank.  The total business value of the component as mentioned earlier will be approximately Rs.2.50 Crores per annum in addition to the current order book. 

Consolidated Revenue from Operations came in at Rs. 21,532 million, higher by 56.2% yoy
Standalone Revenue from Operations came in at Rs. 16,111 million, higher by 18.9% yoy

Manba Finance Limited (MFL), has received a change in credit raƟng outlook from BBB+ (Stable) to BBB+ (PosiƟve) from CARE RaƟngs Limited for its debt instruments and bank facilities.  

Lodha achieved pre-sales of INR 45.1bn, showing 32% YoY growth. With this have achieved pre-sales of INR ~128.2bn in 9mFY25 showing 25% YoY growth. Collections were INR 42.9bn for Q3FY25 showing a growth of 66% YoY. Have added 8 new projects in 9mFY25 with INR ~195bn of GDV across MMR, Bengaluru and Pune, thus achieving 90+% of our full year guidance
 

Benchmark indices are trading weak in the pre-opening session, with the Sensex down 533.94 points or 0.67% at 78,689.17, and the Nifty down 24.90 points or 0.10% at 23,979.85.

The Indian rupee opened unchanged at 85.76 per dollar on Monday, compared to its previous close of 85.78.

Nazara Technologies Limited, the gaming and sports media powerhouse, has acquired a significant 35.07% equity stake in Moonshine Technology Private Limited (MTPL).

This transaction, valued at ₹608.32 crore, represents the first tranche of a larger acquisition agreement.
 

Bajaj Group flagship company, Bajaj Finserv Limited has disclosed that its Board of Directors will meet on Thursday, January 30, 2025, to review and approve the unaudited financial results for the quarter and nine months ended December 31, 2024. The announcement was made in an exchange filing.

ITC will be one of the stocks to watch out for today, as January 6, 2025, is the record date for the demerger of its hotel business. 

According to an exchange filing, Bajaj Finance ’s Board of Directors will meet on Wednesday, January 29, 2025, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2024.
 

NTPC Renewable Energy Ltd has secured a 1,000-MW solar power project from Uttar Pradesh Power Corporation Ltd (UPPCL).

NTPC REL secured a capacity of 1,000 MW at a tariff of Rs 2.56/kWh, a regulatory filing said on Saturday.

The Reserve Bank of India ( RBI ) has granted HDFC Bank Group approval to acquire an aggregate holding of up to 9.50% in the share capital or voting rights of Kotak Mahindra Bank Limited, AU Small Finance Bank Limited, and Capital Small Finance Bank Limited. According to the announcement made on January 3, 2025, this approval is valid for a year, ending on January 2, 2026.

Asia-Pacific markets were mixed on Monday as investors analyzed business activity figures from key regional economies.

China's services PMI rose, reflecting the sector's fastest expansion since May 2024, while Hong Kong's PMI declined. Japan's Nikkei 225 led losses in the region, with the Topix also falling.

Meanwhile, South Korea's Kospi and Kosdaq advanced, and Australia's S&P/ASX 200 traded just above the flatline.

GIFT Nifty on the NSE IX rose 29.50 points, or 0.12%, to 24,128, hinting at a positive start for Dalal Street on Monday.

On Friday, the major indexes closed higher despite a shaky week. The Dow gained, along with the S&P 500 and the Nasdaq Composite, which saw the strongest advance. However, all three benchmarks still ended the week with losses.

The December jobs report, due Friday, will serve as one of the final key indicators ahead of the Federal Reserve's upcoming meeting.
 

The Indian stock markets ended in the red on Friday, with the Nifty losing 199.95 points (0.83%) to close at 23,988.70, slipping below the crucial 24,000 mark. The Sensex also fell 784 points (0.98%) to settle at 79,159.71. Despite a strong opening, heavy selling pressure in broader indices weighed down the markets.

Major losers included SBI, Axis Bank, Asian Paints, Bajaj Finance, Infosys, TCS, and ICICI Bank. On the other hand, stocks like Tata Motors, Nestle India, Titan, NTPC, and IndusInd Bank recorded gains. Among Nifty stocks, ONGC, SBI Life, and Titan led the pack of gainers, while Wipro, HDFC Bank, and Adani Ports were the top laggards.