On January 17, 2025, Indian stock markets experienced a downturn, ending a three-day winning streak. The benchmark indices closed lower, primarily due to significant losses in IT and private banking sectors.
Market Performance:
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The BSE Sensex declined by 403.24 points (0.52%), closing at 76,639.58. citeturn0search0
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The NSE Nifty50 dropped 108.60 points (0.47%), ending at 23,203.20. citeturn0search0
Sectoral Highlights:
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The Nifty IT index was the top sectoral loser, shedding 2.68%. citeturn0search2
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The Nifty Private Bank index declined by 2.17%. citeturn0search2
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Conversely, the Nifty Oil & Gas index gained 1.6%, emerging as the top-performing sector. citeturn0search2
Key Stock Movements:
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Infosys Ltd shares fell by 6%, closing at ₹1,839.70, following concerns over revenue pass-throughs and margins. citeturn0search2
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Axis Bank Ltd shares dropped 4.5% to ₹991.25 after missing profit estimates due to slower loan growth and increased bad loan provisions. citeturn0news15
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Reliance Industries shares rose by 3%, supported by strong quarterly performance. citeturn0search2
Broader Market Indices:
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The Nifty Midcap 100 gained 0.23%, closing at 54,608. citeturn0search2
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The Nifty Smallcap 100 rose by 0.16%, ending at 17,672. citeturn0search2
Additional Insights:
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Despite the downturn, the market's advance-decline ratio remained balanced at 1:1, indicating neutral breadth. citeturn0search2
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Foreign Portfolio Investors continued their selling spree, offloading more than ₹40,000 crore this month, impacting market sentiment. citeturn0search2
In summary, the Indian stock market faced a challenging session on January 17, 2025, with significant declines in IT and private banking sectors outweighing gains in oil and gas. Investors are advised to monitor sector-specific developments and global cues closely.
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