The stock market on January 23, 2025, experienced a day of mixed trends, with the benchmark indices closing on a cautious note amid volatile trading. The Nifty 50 edged up by 50 points (0.22%) to settle at 23,205.35, while the Sensex gained 115.39 points (0.15%) to close at 76,520.38. However, the Nifty Bank slipped by 0.28% to end at 48,589.00, reflecting pressure on banking stocks.
Sectorally, Nifty IT outperformed with a robust gain of 1.79%, while mid-cap and small-cap stocks also saw positive momentum, bolstered by strong domestic flows. UltraTech Cement emerged as the top gainer, surging 6.8%, followed by Grasim, Wipro, Shriram Finance, and Eicher Motors. On the flip side, BPCL, Kotak Mahindra Bank, HCL Tech, Power Grid Corp, and Reliance were among the top losers, indicating a mixed sentiment across the board.
Overview of Contents
Index Performance
| Index | Change | Closing Value | Percentage Change |
|---|---|---|---|
| NIFTY 50 | 23205.35 | 50.00 | 0.22% |
| SENSEX | 76520.38 | 115.39 | 0.15% |
| NIFTY BANK | 48589.00 | -135.40 | -0.28% |
| NIFTY IT | 43351.75 | 761.05 | 1.79% |
| BSE SMALLCAP | 51250.29 | 343.53 | 0.67% |
Top Gainers
| Company | Current Price (₹) | % Gain |
|---|---|---|
| UltraTech Cement | 11,420.90 | 6.80 |
| Grasim | 2,461.15 | 3.06 |
| Wipro | 317.70 | 2.78 |
| Shriram Finance | 529.80 | 2.15 |
| Eicher Motors | 5,116.20 | 2.13 |
Top Losers
| Company | Current Price (₹) | % Loss |
|---|---|---|
| BPCL | 271.25 | -2.29 |
| Kotak Mahindra Bank | 1,894.85 | -1.18 |
| HCL Tech | 1,807.00 | -1.13 |
| Power Grid Corp | 294.35 | -1.08 |
| Reliance | 1,263.65 | -1.05 |
FII/DII Data
| Category | Net Activity (₹ Crore) | Buy Value (₹ Crore) | Sell Value (₹ Crore) |
|---|---|---|---|
| Domestic Institutional Investors (DIIs) | Net Buy ₹3,712.55 | ₹14,412.73 | ₹10,700.18 |
| Foreign Institutional Investors (FIIs) | Net Sell ₹5,462.52 | ₹13,316.55 | ₹18,779.07 |
Market Insights
- The NIFTY 50 is expected to maintain its pullback above 23,100/76,200, with resistance levels at 23,400-23,450/77,000-77,100.
- If the index falls below 23,100/76,200, it may test levels of 23,000-22,950/76,000-75,700.
- Despite global uncertainties, high-frequency indicators like credit growth and auto sales suggest a stabilizing economic trend.
2025 Equity Outlook
- BNP Paribas projects NIFTY 50 to end 2025 at 25,500, with muted expectations of valuation rerating.
- FIIs reduced their holdings to 16% in 2024 from a peak of 20% but still control approximately $800 billion in Indian equities.
- Key risks include elevated US bond yields, a stronger dollar, and commodity price pressures.
Sector Highlights
- Favored Sectors: Banking, consumer discretionary, industrials, and passenger vehicles.
- Underperforming Sectors: Consumer staples, microfinance, and two-wheelers.
Trading Plan
A well-defined trading plan for today focuses on key levels in NIFTY 50 and NIFTY BANK. For NIFTY 50, holding above the 23,000 mark is crucial, with resistance expected around 23,300-23,400. Traders should monitor these levels closely for potential breakout or reversal opportunities. Similarly, for NIFTY BANK, 48,500 serves as a critical support level, with a potential upward movement toward 49,000-49,500 if the support holds. Staying disciplined and following these key levels can help traders navigate the market effectively while managing risks.