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Market Wrap, January 3: Bears gatecrash New Year party; SENSEX tanks 721 pts, NIFTY50 holds on to 24,000; oil & gas stocks shine
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3 min read | Updated on January 03, 2025, 16:47 IST
SUMMARY
Stock market today: According to analysts, markets lost momentum as there is still a lot of pessimism due to slowing growth, higher domestic valuations, foreign fund outflows, and uncertainty over US trade policies post-Trump's resumption as the country's president.
Out of 50 components in the NIFTY50 index, 32 declined, and 18 advanced.
Heavy selling in IT and financial counters dragged the headline indices up to 0.9%.
At close, the S&P BSE SENSEX stood at 79,223.11, down 720.60 points, or 0.90%, while the broader NIFTY50 index ended at 24,004.75, down 183.90 points, or 0.76%.
According to analysts, markets lost momentum as there is still a lot of pessimism due to slowing growth, higher domestic valuations, foreign fund outflows, and uncertainty over US trade policies post-Trump's resumption as the country's president.
However, for the week, both indexes gained 1%.
Top gainers and losers
Out of 50 components in the NIFTY50 index, 32 declined, and 18 advanced.
The top five losers were Wipro, HDFC Bank, Adani Ports, Tech Mahindra, and Cipla.
On the other hand, Zomato (down 4.27%) was the biggest loser.
Market Statistics
Out of 4,103 stocks traded on the BSE, 2,117 advanced, and 1,869 declined, while 117 stocks remained unchanged.
As many as 199 stocks hit their 52-week highs and 23 touched their one-year lows.
Further, 11 stocks hit their upper circuit limits and 3 scrips touched their lower circuit.
Buzzing Stocks
The company said its standalone revenue from operations for the quarter ended (QE) on December 31, 2024, stood at ₹15,565.23 crore, up 17.49% YoY.
As of December 31, 2024, the total number of stores stood at 387. This implies that the company added 10 new stores during the said quarter.
The stock eventually ended at ₹4,011.90, up 11.10%.
Gross advances rose by 21.2% to ₹2.29 lakh crore, driven by robust credit demand. Total deposits climbed 13.5% year-on-year to ₹2.79 lakh crore from ₹2.46 lakh crore.
Broader Market
The BSE MidCap index ended at 46,936.08, down 155.83 points, or 0.33%, while the BSE SmallCap index ended at 56,116.21, down 10.99 points, or 0.02%.
Sector Watch
IT, banking, and capital goods stocks were the leading losers in today's session.
The BSE Information Technology index ended at 43,679.26, down 580.31 points, or 1.31% while the BSE BANKEX ended at
57,927.72, down 628.11 points, or 1.07%.
On the other hand, the BSE OIL & GAS index settled at 26,818.40, down 393.28 points, or 1.49%.
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