Market closing: Domestic equity benchmarks ended the session in the red, with both the Sensex and the Nifty closing lower on the day. The Sensex settled at 83,638.66, down 0.64%, while the Nifty ended at 25,683.30, slipping 0.75 %, as selling pressure weighed on frontline stocks through the session.
Among Nifty constituents, a few stocks managed to close higher despite the weak trend. Asian Paints and ONGC gained over 1% each, while HCL Technologies, Bharat Electronics and Dr Reddy’s Laboratories also ended the day in positive territory. However, losses in heavyweights capped any recovery in the broader index.
On the downside, stocks such as Adani Enterprises, NTPC, Jio Financial Services, ICICI Bank, Adani Ports and Bharti Airtel fell over 2% each, emerging as the key drags. Shriram Finance and Sun Pharma also closed lower. Sectorally, auto and financial stocks declined over 1%, while the Nifty Realty index dropped more than 2%. Consumer durables, FMCG, media and pharma stocks also traded in the red, down close to 1%.
Markets at 1 PM
The markets at 1 PM extended their loss from early trading hours. The Nifty 50 was down 191 points or 0.74% to trade at 25,685, while the Sensex dropped 630 points or 0.75% to 83,555.
The Bank Nifty underperformed benchmarks, falling 414 points or 0.69% to 59,292.
Markets today at open
benchmarks opened Friday’s trade on a muted note, with a positive bias. However, they soon fell in the red after opening. The Nifty 50 was down 17 points or 0.05% to trade at 25,864, while the BSE Sensex was flat at 84,140.
The Nifty Midcap 100 increased 255 points or 0.43% to open at 60,478, a day after seeing sharp cuts.
“After the sharp correction yesterday triggered by the possibility of about 500 % tariff on India under the provisions of the Russia Sanctioning Act approved by President Trump, the market will be focused on the verdict expected today from the US Supreme Court on the legality of Trump tariffs. There is a high probability of the verdict going against Trump. But the details are significant: that is, whether it would be a partial striking down of the tariffs or completely declaring the tariffs illegal,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Markets before opening
The global markets are trading on a mixed note. The GIFT Nifty is trading 32 points, or 0.12%, higher at 26,001. Here are domestic as well as key global cues to watch before the market opens that include crude oil prices, FII and DII data, business groups that most affect, sectoral performance, etc.
Earlier on Thursday, the NSE Nifty 50 closed the session 264 points or 1.01% lower at 25,876, while the BSE Sensex fell 780 points or 0.92% to close at 84,181.
Key global and domestic cues to know on January 09, 2025
Asian Markets
The Asian markets on Friday morning opened on a mixed note. Japan’s benchmark Nikkei 225 rose 0.54%, while the Topix climbed 0.46%. South Korea’s Kospi lost 0.41% and the small-cap Kosdaq slid 0.21%. Hong Kong’s Hang Seng Index was set to open higher, with its futures contract trading at 26,312, against the index’s previous close of 26,149.31.
US markets
The US benchmarks closed Thursday’s trade on a mixed note. The Dow Jones Industrial Average climbed 270.03 points, or 0.55%, and ended at 49,266.11. The tech-heavy Nasdaq dropped 0.44% and settled at 23,480.02. The S&P 500 advanced 0.01% and closed at 6,921.46.
Crude oil
The crude oil prices traded on a higher note on Friday morning. WTI crude prices were trading at $58.12, up 0.62%, while Brent crude prices were trading at $62.37, a rise of 0.62%.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.08% higher at 98.93 on Friday 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 0.16% to close at 90.03 to the dollar on January 08.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares worth Rs 3,367.12 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 3,701.17 crore on January 08, 2025, according to the provisional data available on the NSE.
Gold rate today
The rate for 24-carat gold today is Rs 1,37,930 per 10 grams, near its all-time high. The price of gold has fallen by 0.24% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,37,700 per 10 grams. The 18-carat gold price today in India is Rs 1,03,447.5. The 24-carat gold rate in Dubai today is Rs 1,02,210.73.
Top sectors in Thursday’s trade
The non-ferrous metal sector’s stocks declined the most in Thursday’s trade, falling 5.16% in market capitalisation. Further, electrical equipment stocks were followed by the agriculture sector stocks, which were further followed by the water management sector stocks.