Indian equity indices closed the session on a lower note, dragged by heavy weight like Reliance Industries and HDFC Bank. The share price of Trent fell the most in today’s session, closing 8.5% lower followed by Reliance Industries dropping 4.4%.
However, the Bank Nifty outshone broader markets and benchmarks, finishing 74 points or 0.12% higher at 60,118.
Today, profit booking continues at higher levels, and the Nifty ends 72 points lower, while the Sensex was down by 376 points. Among sectors, the Pharma and Healthcare indices outperformed today, both rallying over 1.5%, whereas the Oil and Gas Index lost the most, shedding 1.80%. Technically, after an early morning intraday rally, the market registered profit booking again at higher levels.
“We are of the view that the intraday market formation is still on the weaker side, but a fresh selloff is possible only after the breach of 26,100. Below this level, the market could slip to 26,000-25,950,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Markets at 3 PM
Indian equity markets are marginally down in Tuesday’s trade. The Nifty 50 is trading 100 points or 0.37% lower at 26,152, while the BSE Sensex has dropped over 500 points or 0.54% to 84,995. The share price of Trent tumbled more than 9%, while Reliance Industries declined 3%.
However, the midcap stocks outshone benchmarks in the early trading hours, but soon gave up gains. The Bank Nifty is trading flat.
Markets at open
The Nifty 50 and Sensex opened Tuesday’s trade on a lower note, defying GIFT Nifty’s indication.
“The US markets have largely ignored the Venezuelan crisis and moved ahead. It seems the market’s verdict is that the economic consequences of this major geopolitical event will not be negative; perhaps it can be even positive from a medium to long-term perspective, when the crude prices decline on increased supply from Venezuela. However, it is too early to take a call on this since further surprises on the geopolitical front are likely. We are in a highly uncertain phase,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Key global and domestic cues affecting investor sentiments on January 06, 2025
Asian Markets
The Asian markets were mostly trading higher on Tuesday morning following overnight gains on Wall Street as investors continued to assess geopolitical tensions. Japan’s benchmark Nikkei 225 index rose 1.12%, while the Topix jumped 1.48% to a record high. South Korea’s Kospi lost 0.85%, while the small-cap Kosdaq inched 0.09% higher. Hong Kong’s Hang Seng Index was set to open higher, with its futures contract trading at 26,562, against the index’s previous close of 26,347.24.
US markets
The US benchmarks closed Monday’s trade on a higher note, even after the US attacked Venezuela. The Dow Jones Industrial Average gained 594.79 points, or 1.23%, to close at 48,977.18. The 30-stock index also hit a new all-time high in the session. The S&P 500 advanced 0.64% and ended at 6,902.05. The Nasdaq Composite added 0.69%, settling at 23,395.82.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.03% higher at 98.39 on Tuesday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee depreciated 0.09% to close at 90.28 to the dollar on January 05.
Crude oil
The crude oil prices traded on a lower note on Tuesday morning. WTI crude prices were trading at $58.15, down 0.29%, while Brent crude prices were trading at $61.59, a fall of 0.28%.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares worth Rs 35.25 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 1,764.07 crore on January 05, 2025, according to the provisional data available on the NSE.
Gold rate today
The rate for 24-carat gold today is Rs 1,38,350 per 10 grams, near its all-time high. The price of gold has risen by 1.77% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,38,110 per 10 grams. The 18-carat gold price today in India is Rs 1,03,762.5. The 24-carat gold rate in Dubai today is Rs 1,02,210.73.
Top sectors in Monday’s trade
The space sector’s stocks rose the most in Monday’s trade, rising 2.4% in the market capitalisation. Further, defence stocks were followed by the food processing sector stocks, which were further followed by the plastics sector stocks. However, the restaurant sector stocks fell the most.
Best and worst performing business groups
The Yash Birla Group’s market cap rose the most in today’s session, rising 4.25%. It was followed by the Avantha Group. Apart from that, Muthoot Group’s market capitalisation rose the most, increasing 2.64%. In the list of Muthoot Group stocks, Muthoot Finance’s share rallied 2.65%.