Market Commentary     21-Jan-25
Mid-Session
Barometers pare gains; consumer durables shares tumble
The domestic equity benchmarks pared all early gains and traded with steep losses in morning trade, due to drops in heavyweight stocks such as Reliance Industries (RIL), Kotak Bank, and Zomato. The market sentiment was further dampened by caution following U.S. President Donald Trump's announcement of trade tariffs on neighboring countries shortly after taking office. The Nifty slipped below the 23,200 level after hitting the day’s high of 23,426.30 in early trade. Consumer durables shares declined after gaining in past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 768.24 points or 1% to 76,280.98. The Nifty 50 index lost 189 points or 0.81% to 23,155.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.23% and the S&P BSE Small-Cap index declined 1.12%.

The market breadth was strong. On the BSE, 1,386 shares rose and 2,174 shares fell. A total of 167 shares were unchanged.

Result Today:

ICICI Prudential Life Insurance Company (down 0.05%), Tata Technologies (up 2.17%), Dalmia Bharat (up 0.90%), Aditya Birla Real Estate (down 1.20%), Cyient DLM (up 1.17%), India Cements (up 4.98%), IndiaMART InterMESH (up 1.52%), Indoco Remedies (up 0.49%), Jana Small Finance Bank (down 1.24%), KEI Industries (up 2.17%), PNB Housing Finance (up 0.07%), South Indian Bank (down 1%), Tanla Platforms (up 5.04%), and UCO Bank (down 1.39%) will declare their result later today.

Buzzing Index:

The Nifty Consumer Durables index dropped 2.87% to 38,588.25. The index gained 1.37% in past two consecutive trading sessions.

Dixon Technologies (India) (down 10.89%), Kalyan Jewellers India (down 4.64%), Amber Enterprises India (down 3.78%), V-Guard Industries (down 2.42%), Blue Star (down 1.99%), Crompton Greaves Consumer Electricals (down 0.99%), Voltas (down 0.97%), Havells India (down 0.60%), Rajesh Exports (down 0.47%) and Whirlpool of India (down 0.46%) declined.

On the other hand, Century Plyboards (India) (up 1.40%), Kajaria Ceramics (up 0.81%) and Bata India (up 0.05%) edged higher.

Stocks in Spotlight:

Glenmark Pharmaceuticals added 0.42%. The company’s US-based division Glenmark Pharmaceuticals Inc. announced the launch Phytonadione Injectable Emulsion. This product is indicated in coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity.

Ugro Capital slipped 1.57%. The company said that its investment and borrowing committee of the board is scheduled to meet on Thursday, 23rd January 2025 to consider raising funds via private placement.

Reliance Power slipped 1.86%. The company’s board has appointed Neeraj Parakh as chief executive officer (CEO) for 3 years.

Previous News
  Glenmark receives UK MHRA approval to launch Winlevi® in UK
 ( Corporate News - 10-Feb-25   13:28 )
  Ugro Capital approves issuance of NCDs up to Rs 265 cr
 ( Corporate News - 10-Feb-25   12:56 )
  Reliance Power spurts after reporting turnaround Q3 numbers
 ( Hot Pursuit - 06-Feb-25   11:15 )
  Reliance Power reports consolidated net profit of Rs 41.95 crore in the December 2024 quarter
 ( Results - Announcements 06-Feb-25   07:29 )
  Volumes jump at Glenmark Pharmaceuticals Ltd counter
 ( Hot Pursuit - 05-Feb-25   11:00 )
  Glenmark Pharmaceuticals to announce Quarterly Result
 ( Corporate News - 04-Feb-25   16:26 )
  Reliance Power schedules board meeting
 ( Corporate News - 30-Jan-25   11:42 )
  Ugro Capital standalone net profit rises 15.31% in the December 2024 quarter
 ( Results - Announcements 25-Jan-25   07:35 )
  Ugro Capital approves NCD issuance of up to Rs 75 cr
 ( Corporate News - 23-Jan-25   19:29 )
  Barometers pare gains; consumer durables shares tumble
 ( Market Commentary - Mid-Session 21-Jan-25   10:37 )
  Glenmark Pharma edges higher after US launch of coagulation disorder drug Phytonadione
 ( Hot Pursuit - 21-Jan-25   10:07 )
Other Stories
  Sensex plummet 1,120 pts; consumer durables shares slump
  11-Feb-25   14:36
  Sensex, Nifty plunges over 1%; European mrkt advance
  11-Feb-25   13:39
  Indices trade lower; PSU bank shares slide for 4th day
  11-Feb-25   12:32
  Broader mrkt underperforms; media shares decline for 4th day
  11-Feb-25   11:33
  Nifty slides below 23,300; realty shares tumble
  11-Feb-25   10:36
  Indices nudge lower; breadth weak
  11-Feb-25   09:34
  Barometers trade with deep cuts; consumer durables shares slump
  10-Feb-25   14:36
  Market trade near day’s low; European mrkt advance
  10-Feb-25   13:38
  Indices trade with major losses; media shares slides for 3rd day
  10-Feb-25   12:35
  Broader mrkt underperforms; realty shares tumble
  10-Feb-25   11:36
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