14/01/25




As of January 14, 2025, the Nifty 50 index experienced a modest rebound following a significant decline in the previous session. The index rose by 0.26%, reaching 23,144.35 points, while the BSE Sensex increased by 0.29% to 76,545.10 points.

Reuters

This recovery came after both indices had dropped approximately 1.4% in the prior session, hitting seven-month lows. The earlier decline was influenced by a sharp fall in the rupee and concerns over domestic earnings. On January 14, the rupee appreciated by about 0.1% after reaching an all-time low on the previous day. Notably, foreign portfolio investors have withdrawn approximately $2.75 billion from Indian equities so far in January.

Reuters


Despite the overall market uptick, HCLTech's shares dropped by 9%, marking their most significant decline in over nine years. This downturn followed the company's December-quarter revenue miss, attributed to underperformance in its software business. Consequently, the Nifty IT index fell by 1.7%.

Reuters

In contrast, sectors such as financials showed positive movement. Power Finance Corporation and REC Limited saw gains of 4% and 3.4%, respectively, after receiving "buy" ratings from ICICI Securities, which cited potential benefits from the transition to renewable energy. The broader small-cap and mid-cap indices also rose by about 0.7% and 1.4%, respectively, recovering from a 4% drop in the previous session.

Reuters

Additionally, India's retail inflation eased to a four-month low, raising hopes for a potential interest rate cut by the central bank in February.

Reuters

Overall, while the Nifty 50 showed signs of recovery on January 14, market sentiment remains cautious due to ongoing concerns about earnings, foreign investor outflows, and currency fluctuations.

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