07/01/25

 


On Tuesday, January 7, 2025, the Nifty 50 index closed at 23,707.90 points, marking a gain of 0.39% from the previous close of 23,616.05 points.

MarketScreener

This uptick was primarily driven by energy stocks, with the oil and gas sector advancing about 1.5%. Notably, Oil and Natural Gas Corporation (ONGC) shares rose by 3.5% following an upgrade by CLSA to "high conviction outperform," citing potential earnings growth and attractive valuations.

Reuters

Additionally, Bharat Petroleum Corporation (BPCL) saw a 1.5% increase, and city gas distributors GAIL and Indraprastha Gas gained 2.3% and 1%, respectively, after BPCL approved the listing of Maharashtra Natural Gas, a joint venture among these companies.

Reuters

In contrast, the technology sector experienced declines, with HCL Technologies and Tata Consultancy Services shares falling by 1.99% and 1.50%, respectively.

Investing

Overall, 11 of the 13 major sectors advanced, indicating a broad-based recovery following the previous session's losses.

Reuters


Comments

Post a Comment

Popular posts from this blog

13/01/25

Image
  On Monday, January 13, 2025, the Nifty 50 index experienced a significant decline, closing at 23,085.95, down 345.55 points (1.47%) from the previous close. The New Indian Express This downturn was influenced by several factors: Global Economic Indicators : A robust U.S. jobs report indicated stronger-than-expected employment growth, suggesting that the Federal Reserve might implement fewer rate cuts in 2025. This development led to a rise in U.S. Treasury yields, diminishing the appeal of emerging markets like India. Reuters Foreign Investment Outflows : The prospect of limited U.S. rate cuts contributed to foreign institutional investors withdrawing funds from Indian markets, totaling ₹213.57 billion in January. Reuters Rising Crude Oil Prices : Brent crude oil prices climbed to approximately $80.90 per barrel, raising concerns about increased inflationary pressures on the Indian economy. The New Indian Express Corporate Earnings Concerns : There are apprehensions about a poten...
Read more

14/01/25

Image
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...
Read more

02/01/25

Image
 As of January 2, 2025, the Nifty 50 index closed at 24,188.65, marking a 1.88% increase from the previous close of 23,742.90. Economic Times In 2024, the Nifty 50 achieved an annual gain of 8.8%, its ninth consecutive year of growth. However, it underperformed compared to global peers due to sluggish corporate earnings and significant foreign fund outflows. The index reached record highs in September but entered correction territory by November, influenced by record foreign selling in October and slowed earnings growth. Reuters Sector-wise, the pharmaceutical sector led with a 39% rise, while small-cap and mid-cap indexes outperformed the benchmarks with gains of about 24%. Notable stock movements included a decline in Reliance Industries and Asian Paints, while Trent emerged as the top gainer. Reuters Analysts anticipate that macroeconomic factors and forthcoming policy directions will significantly influence market trends in 2025. The upcoming Q3 earnings season is expected to b...
Read more