Stock Market Today: GIFTY Nifty Indicates a Positive Start for Indian Indices
by Sandip Das on 29 January 2024, 4 min read
The Indian stock market ended the session on January 25, 2024, in the red amid high volatility. Sensex was down 359 points at 70,700 at close while Nifty shed 101 points and ended the session at a 21,352 level.
Around 1421 stocks advanced and 1077 declined while 102 remained unchanged.
Among the sectors, IT, Pharma, and FMCG were down over 1 percent each. On the other hand, some buying was seen in auto and metal space.
Trends on GIFT Nifty indicates a positive start for Indian indices.
The S&P 500 ended a five-session streak of record highs on Friday, with Intel slumping after a bleak revenue forecast, while U.S. economic data showed inflation moderating. The S&P 500 declined 0.07% to end the session at 4,890.97 points. The Nasdaq declined 0.36% to 15,455.36 points, while Dow Jones Industrial Average rose 0.16% to 38,109.43 points, according to a Reuters report.
Asian markets were trading mostly higher on Monday ahead of a slew of GDP and inflation numbers due out from the region this week. Japan’s Nikkei was up 0.8 percent, while Kospi index gained 1 percent.
ITC, Bajaj Finance, NTPC, GAIL (India), Bharat Petroleum Corporation, Vodafone Idea, Aditya Birla Sun Life AMC, Adani Green Energy, Marico, Bharat Electronics, CSB Bank, Mahindra Logistics, Muthoot Microfin, Nippon Life India Asset Management, Nuvoco Vistas Corporation, Piramal Enterprises, Petronet LNG.
Piramal Enterprises; The firm has entered into a share purchase agreement to sell its entire direct investment of a 20 percent stake held in Shriram Investment Holdings to Shriram Ownership Trust (SOT) for Rs 1,440 crore.
LIC, HDFC Bank: The Reserve Bank of India (RBI) has given its approval to Life Insurance Corporation of India to acquire up to 9.99 percent of HDFC Bank. LIC has been advised by the RBI to acquire the aforesaid major shareholding in HDFC Bank within one year, i.e., by January 24, 2025.
DLF: The company has agreed with the bondholder (Standard Chartered Bank, Singapore Branch, DB International (Asia), Singapore, and Deutsche Investments India).
Jubilant Pharmova: Subsidiary Jubilant Pharma, Singapore (JPL) plans to sell its entire 25.8 percent stake in Sofie Biosciences Inc., USA, for aggregate proceeds of about $139.43 million. JPL plans to use these proceeds to reduce leverage and for capex and other corporate purposes.
Strides Pharma Science: The company said its step-down wholly owned subsidiary, Strides Pharma Global Pte Limited, Singapore, has received approval for pregabalin capsules from the United States Food and Drug Administration (USFDA).
Ashoka Buildcon: The company has emerged as the lowest bidder for the project of six lanes of NH-2 in Bihar under Bharatmala on EPC mode. The bid value of the said project is Rs 520 crore.
FII and DII data
Foreign institutional investors (FIIs) offloaded shares worth Rs 2,144.06 crore, while domestic institutional investors (DIIs) bought Rs 3,474.89 crore stocks on January 25.
BSE Limited: BNP Paribas Arbitrage sold 977183 shares at Rs 2112.15
Manappuram Finance: Societe Generale sold 5272731 shares at Rs 174.55
DB Realty Limited: Griffin Growth Fund Vcc bought 3482865 shares at Rs 253.05
PNB Housing Finance: Asia Opportunities V (Mauritius) Limited bought 25650006 shares at Rs 821
Bandhan Bank: BNP Paribas Arbitrage sold 19377038 shares at Rs 224.4
One97 Communications (Paytm): BNP Paribas Arbitrage sold 4215328 shares at Rs 753.75
Oil jumps 1% after Houthis attack on fuel tanker in Red Sea
Oil prices jumped 1% on Monday on fuel supply concerns after a missile struck a Trafigura-operated fuel tanker in the Red Sea. Also, Russian refined products exports are set to fall as several refineries are under repair after drone attacks.
Brent crude futures climbed 83 cents to $84.38 a barrel by 2341 GMT after hitting a session high of $84.80. US West Texas Intermediate crude rose 78 cents to $78.79 a barrel.
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