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Nifty 50, Sensex on January 22: Benchmarks Sensex and Nifty50 started on a positive note, tracking firm global cues.
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Stock Market Updates: After a strong opening on Wednesday, benchmark indices Sensex and Nifty eased off their highs in the afternoon, with profit booking hitting all sectors except IT stocks.
By 12:30 PM, the BSE Sensex was up just 100 points, reaching 75,955, while the Nifty50 remained flat, dipping below the 23,000 mark during intraday trading.
Infosys, TCS, Tech Mahindra, Maruti Suzuki, Sun Pharma, HCL Tech, and Nestle India were the top gainers on the Sensex, rising as much as 2.7%.
On the other hand, Tata Motors, Zomato, NTPC, SBI, Tata Steel, and Power Grid saw the most significant declines, falling up to 3%.
Broader market indices struggled as well, with the Nifty SmallCap index down 2.7% and the Nifty MidCap index trading 2.3% lower.
Sector-wise, the Nifty Realty index suffered a sharp 5% drop, followed by Nifty PSU Bank (-2%) and Nifty Metal (-1.8%).
Investors’ attention today is largely focused on the Q3FY25 earnings reports from major companies such as HDFC Bank, Hindustan Unilever, and Bharat Petroleum Corporation Limited (BPCL).
Global Cues
Asia-Pacific markets were trading mixed, following Wall Street’s gains after President Donald Trump’s less aggressive-than-expected tariff stance.
The Nikkei rose 1.5 per cent, while the ASX 200 was up 0.4 per cent. The Kospi also increased 0.7 per cent. Meanwhile, Sang Seng was down 1.3 per cent.
Overnight in the US, the three major indices advanced as investors perceived Trump’s comments on international trade to be softer than expected. The Dow Jones added 1.24 per cent, the S&P 500 gained 0.88 per cent, and the Nasdaq Composite rose 0.64 per cent.
Trump stated he was considering 25 per cent tariffs on Mexico and Canada starting February 1 due to their border policies while signing first-day executive orders in the White House on Monday night. He also mentioned China, suggesting potential tariffs if it does not approve a TikTok deal.
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