Stock Market Today: Sensex, Nifty Slide Amid High Volatility; Bajaj Auto Top Gainer, TechM Drags

The Indian stock market ended the session on January 25, 2024, in the red amid high volatility. At close, Sensex was down 359 points at 70,700 while Nifty shed 101 points and ended the session at 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.

IT Losers

• Tech Mahindra – down 5.89%
• Coforge – 2.69%
• LTI Mindtree – 2.18%

FMCG Losers

• Tata Consumer – down 2.07%
• United Breweries – down 2.03%
• ITC – down 1.32%

Top Nifty50 Gainers

Top Nifty50 Losers

Asian markets end higher

Asian markets edged higher on January 25 with Hang Seng up 1.93 percent at 16,211 while Kospi and Nikkei were up 0.03 percent each. The Shanghai Composite index jumped 2.94 percent.

Also read: Here’s Why Bajaj Auto Was The Top Nifty50 Gainer After Q3 Earnings?

European markets under pressure

European markets were trading lower ahead of the ECB interest rate decision. FTSE shed 0.06 percent at 7,523 while CAC slipped 0.20 percent at 7,441. German DAX was down 0.34 percent at 16,831 level.

Stocks that moved the most

Bajaj Auto: up 5.23%

The two and three-wheeler maker reported a record high in revenue and net profit for the third straight quarter. In the third quarter, the auto major saw a 37 percent year-on-year increase in net profit, reaching Rs 2,041.88 crore. This significant growth was driven by robust sales of its two-wheelers, alongside strategic price hikes and higher realizations amid a consistent demand.

Tech Mahindra: down 5.89%

In Q3 FY24, a 60 percent YoY decline in net profit to Rs 510 crore was reported by Tech Mahindra. This occurred in a seasonally weak quarter characterized by sluggish demand in key verticals such as hi-tech, telecom, and financial services. Additionally, the net profit in Q3 FY24 witnessed a 41 percent YoY decrease to Rs 763 crore.

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