Stock Market News Today: Indices Likely to Open Flat Tracking GIFT Nifty

The Indian stock market ended in the red, down 1 percent each on January 30, 2024. At close, Sensex was down 801 points at 71,139 while Nifty declined 215 points and ended the session at 21,522.

Around 1275 stocks advanced and 1267 declined while 99 stocks remained unchanged as the stock market ended in the red.

Among sectors, except realty and PSU Bank, all other indices ended in the red with capital goods, FMCG, pharma, and power down 0.5-1 percent.

GIFT Nifty

Trends on GIFT Nifty indicates a negative opening for Indian indices.

US Markets

The tech-heavy Nasdaq lost ground on Tuesday as the market awaited a spate of high profile corporate earnings and the Federal Reserve convened for its monetary policy meeting. The S&P 500 closed nominally lower after touching a new intraday high, while the blue-chip Dow finished higher, according to a Reuters report.

The S&P 500 declined 0.06% to end at 4,924.97 points. The Nasdaq Composite Index fell 0.76% to 15,509.90 points, while the Dow Jones Industrial Average rose 0.35% to 38,467.31 points.

Also read: Mishra Dhatu Nigam, Karur Vysya Bank Top 2 Stocks Which Can Fetch Up to 17% Return

Asian Markets

Asian markets were trading lower in the early hours of trade. Japan’s Nikkei shed 0.53 percent at 35,876 while Hang Seng shed 1.35 percent. Kospi slipped 0.34 percent.

Stocks in the news

• TCS: The IT major is expanding by 15 years its partnership with Aviva to “transform” the UK- based insurance, wealth, and retirement business company’s business and customer experience.
• Larsen & Toubro (L&T): The management indicated the pace of new orders in the domestic market had slowed and there would be weakness for the two quarters between now and June 2024 owing to the Lok Sabha elections.
• Tata Power: The company has proposed a tariff hike for low-end customers in Mumbai through a newspaper advertisement to the Maharashtra Electricity Regulatory Commission (MERC), after almost four years of providing the same price tariff.
• Glenmark Pharmaceuticals: The company along and its subsidiary, Ichnos Sciences, announced a collaboration to accelerate the development of new cancer treatments. The alliance, called Ichnos Glenmark Innovation (IGI), combines Glenmark’s expertise in small molecules with Ichnos’ proficiency in novel biologics.
• NTPC: The company’s arm, Maharashtra govt ink pact to develop green hydrogen projects. The memorandum of understanding (MoU) has been signed as a part of Green Investment Plan of the state government in the next five years and envisages a potential investment of Rs 80,000 crore.
• Paras Defence: Instrument Research & Development Establishment (IRDE), a division of DRDO, finalized a ‘Licensing Agreement for Transfer of Technology’ (LAToT) with Paras Defence and Space Technologies Limited (Paras Defence).

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,970.52 crore. Domestic institutional investors (DIIs) bought Rs 1,002.70 crore worth of stocks on January 30.

Stocks under F&O ban on NSE

The NSE has added Zee Entertainment Enterprises to the F&O ban list for January 31.

Results Today

Maruti Suzuki India, Sun Pharmaceutical Industries, Shree Cement, Ambuja Cements, Bank of Baroda, Dabur India, Amara Raja Energy & Mobility, Adani Wilmar, Balaji Amines, Dixon Technologies, Fino Payments Bank, GMR Airports Infrastructure, Godrej Consumer Products, IRB Infrastructure Developers, Jindal Steel & Power, Jubilant FoodWorks, Jyothy Labs, Kalyan Jewellers India, Mankind Pharma, PVR Inox, and Suzlon Energy

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