Nifty and Sensex Today: The Indian stock market indices, Sensex and Nifty ended lower for the second consecutive session ahead of IT major TCS’s Q3 earnings. Market sentiments were also cautious due to concern about a potential slowdown in US interest rate cuts. The Nifty index slipped below the 23550 mark indicating a careful ahead.
Sensex and Nifty Indices Today
The BSE Sensex fell 528.28 points or 0.68% to 77629.21 while the Nifty 50 index declined 162.45 points or 0.69% to 23526.50. Barring the NSE FMCG index all other indices ended in the red on the NSE with Realty, Energy, and Oil & Gas falling the most.
Heavyweight stocks including L&T, HDFC Bank, and Reliance were dragged the most on Thursday. The broader markets underperformed the benchmark indices, as the Nifty midcap index was down by 0.93% while the Nifty smallcap index declined 1.35% at the close.
The market breadth was on the seller’s side. On the NSE, 1838 shares fell, while only 548 shares advanced on Thursday. Foreign Institutional Investors (FIIs) were the net sellers in the Indian markets, they offloaded shares worth Rs 7170.87 Cr, while the Domestic Institutional Investors (DIIs) were the net buyers, they bought shares worth Rs 7639.63 Cr. The NSE’s volatility Index “ India VIX” rose 1.33% to 14.66.
Q3 Earnings of Nifty 50 Stocks
The IT giant reported a 12% year-on-year increase in consolidated net profit for the December quarter, amounting to Rs 12,380 crore. Quarterly revenue reached Rs 63,973 crore, reflecting a 5.6% YoY growth (4.5% in constant currency).
The operating margin stood at 24.5%, showing a 50-basis-point YoY decline but a sequential improvement of 40 basis points. The net margin for the quarter was 19.4%. The Management sounds positive saying CY25 signals to be a better year than CY24.
The company declared a total dividend of Rs 76 per share, which includes a special dividend of Rs 66 per share. The record date for the dividend is January 17, 2025, with payment scheduled for February 3, 2025. The share price of TCS closed lower by Rs 64.40 at Rs 4044 or down by 1.57% ahead of its Q3 earnings on Thursday.
IPO Updates Today
The IPO of Quadrant Future Tek was subscribed 185.81 times on the last day, 9 January 2025. The price band is Rs 275-290 per share, with bidding open from 7 to 9 January 2025 and a minimum lot size of 50 shares. The GMP of Quadrant Future Tek IPO is Rs 210 indicating a strong listing gain.
Capital Infra Trust’s IPO saw a subscription of 2.80 times on the final day of its bidding. The price band is Rs 99-100 per share, with bidding dates and a minimum lot size of 150 shares identical to Quadrant Future Tek. Its grey market price is nil.
Nifty Outlook for Tomorrow
Nifty has closed near the crucial support zone. As per market experts, the next support for the Nifty index is around 23300 -23350 and resistance is at 23850 levels. The action in the market remains stock-specific. The sentiment on the street is cautious.
The nifty index, if further dipped could potentially test the November low of 23,275, said expert Kush Bohra. He suggested holding short positions with a trailing stop-loss, noting recent rebounds from 23,500 over the past 10-15 sessions.
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