The key equity benchmarks traded with modest gains in early trade. The Nifty traded above the 23,200 level. Realty, pharma and healthcare advanced while consumer durables, auto, and IT stocks declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, advanced 60.54 points or 0.08% to 76,593.50. The Nifty 50 index added 39.70 points or 0.17% to 23,202.40.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 0.38% and the S&P BSE Small-Cap index added 0.30%.
The market breadth was strong. On the BSE, 1,958 shares rose and 1,002 shares fell. A total of 152 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,586.43 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,792.71 crore in the Indian equity market on 29 January 2025, provisional data showed.
Stocks in Spotlight:
Tata Motors declined 7.93% after the company reported a 22.41% decline in consolidated net profit to Rs 5,451 crore despite a 2.71% rise in revenue from operations to Rs 113,575 crore in Q3 FY25 over Q3 FY24.
Bajaj Finance rallied 6.30% after the company's consolidated net profit jumped 18% to Rs 4308 crore in Q3 FY25 as compared with Rs 3,639 crore in Q3 FY24. Net interest income (NII) increased 23% YoY to Rs 9,382 crore in Q3 FY25.
Allied Blenders & Distilleries added 2.64%. The company's reported consolidated net profit of Rs 57.46 crore in Q3 FY25 compared with a net loss of Rs 4.42 crore in Q3 FY24. Revenue from operations (excluding excise duty) increased 8.84% to Rs 973.94 crore in Q3 FY25.
Numbers to Track:
The yield on India's 10-year benchmark federal paper advanced 1.69% to 6.794 as compared with the previous close of 6.681.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.5825, compared with its close of 86.5575 during the previous trading session.
MCX Gold futures for the 5 February 2025 settlement were added 0.21% to Rs 80,450.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 107.85.
The United States 10-year bond yield shed 0.55% to 4.530.
In the commodities market, Brent crude for March 2025 settlement declined 5 cents or 0.07% to $76.53 a barrel.
Global Markets:
The US Dow Jones index futures were currently up by 91 points, signaling a positive opening for US stocks today.
Markets in Japan and Australia edged higher on Thursday, breaking ranks with Wall Street that fell overnight as the Federal Reserve kept interest rates unchanged. Several Asia-Pacific markets were closed for the Lunar New Year holiday.
Recent data released by the Australian Bureau of Statistics showed that Australia's export price index climbed 3.6% in the fourth quarter of 2024, but fell 8.6% through the year. Its import price index rose 0.2% in the same quarter but fell 1.9% through the year. These indexes reflect the changes in prices of imports into and exports from the country.
Overnight in the U.S., benchmark indexes fell after the Federal Reserve left interest rates unchanged in its first policy decision of the year on Wednesday.
The S&P 500 slid 0.47% to close at 6,039.31, while the Nasdaq Composite lost 0.51% to end at 19,632.32. The Dow Jones Industrial Average shed 136.83 points, or 0.31%, to 44,713.52.
Powered by Capital Market - Live News