Stock Market Updates: Sensex, Nifty Slide; IT, Metals Shine
by Sandip Das on 30 January 2024, 5 min read
The Indian stock market after posting gains in the early hours of trade slipped into the red. At 11: 43 AM, Sensex shed 187 points at 71,753.99 while Nifty slipped 20 points and was trading at 21,718.
Around 1411 stocks advanced and 902 declined while 110 stocks remained unchanged.
Among the sectors, selling was seen in banks and consumer durables while buying was seen in metals, IT, PSU Bank, and oil & gas as the stock market was trading on a weak note.
Top Banking losers:
- AU Small Finance Bank: – 0.51%
- HDFC Bank: -0.51%
- IDFC First Bank: -0.3%
- Axis Bank: -0.25%
Top Metal gainers:
- Jindal Stainless: 3.99%
- Hindalco Industries: 2.65%
- Jindal Steel & Power: 2.57%
- SAIL: 2.53%
Stocks in action:
Zee Entertainment: up 6.92%
Zee Entertainment’s share price surged nearly 7 percent on January 30 amid reports of an emergency arbitration hearing for the abandoned Zee-Sony merger scheduled the next day in Singapore.
ITC: down 1.9%
The share price of ITC slipped almost 2 percent, a day after the FMCG major declared its Q3 earnings. Total revenue from operations rose 2 percent to Rs 17,651.85 crore from the year-ago period. Profit jumped 11 percent to Rs 5,183 crore.
Most active stocks in terms of volumes:
| Company Name | Last Traded Price (Rs) | Volumes |
| ONGC | 259.45 | 3,04,35,166 |
| ITC | 439.75 | 2,60,76,968 |
| Tata Steel | 136.2 | 2,37,20,101 |
| BPCL | 514.1 | 1,22,25,481 |
| NTPC | 320.4 | 1,21,49,876 |
Asian markets trade mixed
Asian stock markets were trading on a mixed note on January 30. Japan’s Nikkei added 0.11 percent at 36,065 while Kospi was trading flat at 2,502. However, Hong Kong’s Hang Seng declined 1.96 percent and was trading at 15,759 level.
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. Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
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