Stock Market At Close: Sensex, Nifty Slide; IT, Metals Decline


by Sandip Das on 3 January 2024,  3 min read

Stock Market At Close: Sensex, Nifty Slide; IT, Metals Decline - MyDhanush Blogs by Ashika

The Indian stock market ended in the red on January 3, 2024. After recording record highs, the equities are in a consolidation phase. At close, Sensex fell 535.88 points or 0.75 percent at 71,356.60. Nifty declined 139.60 points or 0.64 percent at 21,526.20.

Around 1917 shares advanced and 1390 shares declined while 79 stocks remained unchanged.

Among the sectors, buying was seen in PSU Bank, Pharma, and the Realty space. On the other hand, selling was witnessed in IT and Metal space which shed over 1 percent each.

Top Nifty50 Gainers:
Company Name Last Traded Price (Rs) % Change
Bajaj Auto 6968 4.55
Adani Enterprises 3005 2.48
Adani Ports 1095.4 1.58
Cipla 1301.55 1.56
ITC 477.45 1.51
Top Nifty50 Losers:
Company Name Last Traded Price (Rs) % Change
Hindalco Industries 593.45 -3.82
JSW Steel 837.4 -3.77
Tata Steel 135 -3.30
LTI Mindtree 5957.95 -3.03
Tech Mahindra 1241 -2.90
Asian markets close in the red:

Asian markets ended in the red on January 3, 2023. Hang Seng declined 0.85 percent at the 16,646 mark while Kospi crashed over 2 percent and ended the session at the 2,607.31 level.

Also read: Top 2 Buy Ideas for New Year 2024 Which Can Fetch Up To 15% Return
European markets decline

Major European markets were trading in the red. FTSE slipped 0.44 percent at the 7,687 mark while CAC fell 1.18 percent at the 7,442 level. German DAX shed 0.77 percent and was trading at the 16,640 mark.

Stocks in the news
Adani Group stocks gain

The Adani Group stocks gained on January 3, 2024, after the Supreme Court dismissed petitions filed regarding the Adani-Hindenburg case. Media reports indicated that the Supreme Court disposed of petitions related to the Adani-Hindenburg issue. It declined to initiate a Special Investigation Team (SIT) or CBI probe.

The apex court stated that there were no grounds to quash the FPI regulations, which had previously led to significant declines in share prices. On January 3, 2024, it reiterated that there were no valid grounds for revoking the amendment to FPI, LODR recommendations. It directed SEBI to complete the remaining 2 probes within 3 months.

Bajaj Auto:

The share price of Bajaj Auto jumped over 4 percent after media reports indicated that the Bajaj Auto board will consider a share buyback on January 8. Bajaj Auto said in a regulatory filing that they will “consider a proposal to buyback of fully paid-up equity shares of the Company and other matters necessary and incidental thereto, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable laws.”

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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