Stock Market Analysis 7th January 2025: The Indian stock market witnessed a day of mixed trends on 7th January, with major indices closing in green territory despite weakness in select sectors. The NIFTY 50 rose by 91.85 points, or 0.39%, to close at 23,707.90, while the SENSEX gained 234.12 points, or 0.30%, to settle at 78,199.11. Banking and small-cap stocks led the gains, while IT stocks faced a significant decline.
Index Overview
| Index | Price | Change | % Change |
|---|---|---|---|
| NIFTY 50 | 23,707.90 | 91.85 | 0.39% |
| SENSEX | 78,199.11 | 234.12 | 0.30% |
| NIFTY BANK | 50,202.15 | 280.15 | 0.56% |
| NIFTY IT | 43,375.85 | -299.00 | -0.68% |
| BSE SMALLCAP | 55,282.48 | 945.11 | 1.71% |
Top Gainers
| Company | Current Price | % Gain |
|---|---|---|
| ONGC | ₹263.49 | 3.59% |
| SBI Life Insurance | ₹1,477.75 | 3.00% |
| HDFC Life | ₹619.85 | 2.29% |
| Tata Motors | ₹793.25 | 2.19% |
| Reliance | ₹1,240.85 | 1.88% |
Top Losers
| Company | Current Price | % Loss |
|---|---|---|
| HCL Tech | ₹1,915.90 | -1.90% |
| Trent | ₹6,874.30 | -1.77% |
| TCS | ₹4,028.30 | -1.63% |
| Eicher Motors | ₹5,177.30 | -1.39% |
| Hero Motocorp | ₹4,162.05 | -0.97% |
52-Week High Performers
- Aegis Logistics: Day’s High ₹1,015.55, Current ₹963.95
- PTC Industries: Day’s High ₹17,145.00, Current ₹16,925.00
- Amber Enterprises: Day’s High ₹8,177.00, Current ₹8,060.40
- Apar Industries: Day’s High ₹11,750.00, Current ₹11,666.00
- Firstsource Solutions: Day’s High ₹422.30, Current ₹406.75
52-Week Low Performers
- PVR INOX: Day’s Low ₹1,153.65, Current ₹1,222.70
- Kajaria Ceramics: Day’s Low ₹1,077.35, Current ₹1,083.70
- Sanofi India: Day’s Low ₹5,791.00, Current ₹5,975.70
- RHI Magnesita: Day’s Low ₹485.10, Current ₹489.20
- Container Corp: Day’s Low ₹745.65, Current ₹754.25
Market News
- Equinox India Developments: Shares surged by 20.00% to ₹143.58 after NCLAT approved its merger with Embassy Group, concluding a five-year process.
- Paras Defence and Space Technologies: Gained 10.00% to ₹1,066.10 after receiving a lifetime license under the Arms Act to manufacture MK-46 and MK-48 light machine guns.
- Ashoka Buildcon: Rose 5.54% to ₹293.35 after its subsidiary signed a ₹1,391 crore concession agreement with NHAI for a 4-lane economic corridor project in West Bengal.
- Shakti Pumps: Climbed 5.00% to ₹1,280.85 as the board approved raising ₹2,400 crore through QIP.
- Nesco Limited: Increased by 4.10% to ₹1,033.80 after winning a tender to develop and maintain three wayside amenities on the Bengaluru-Chennai Expressway.
- Info Edge (Naukri): Jumped 4.28% to ₹8,438.65 following standalone Q3 FY25 billings of ₹1,668.3 crore, led by recruitment solutions revenue of ₹2,494 crore.
Stock Market Analysis 7th January 2025 [Post Market]
The Nifty opened positively, witnessed rangebound movement, and closed with gains of ~91 points at 23,707.90. The index consolidated within the range of the previous trading session, with crucial short-term levels at 24,100 (resistance) and 23,550 (support). The daily and hourly momentum indicators show a positive crossover, suggesting a potential pullback. Immediate hurdles are at 23,950–24,000, while support lies at 23,500–23,550.
Sectoral and Broader Market Trends
Except for the IT sector, all sectors advanced, with Media and Energy leading the gains. Mid and small-cap segments outperformed, rising nearly 1%. A bullish Harami candlestick pattern appeared on the daily chart, indicating a potential trend reversal if the index closes firmly above 23,900.
Key Factors Influencing Market Sentiment
Positive global cues helped the market recover partially from the previous day’s sell-off, but it traded in a narrow range ahead of India’s FY25 GDP advance estimates. Growth expectations remain moderated as the RBI recently revised its projection downward.
Currency and Economic Highlights
The Indian rupee appreciated by 10 paise, closing at 85.72 per dollar compared to the previous close of 85.82. Market caution persists due to ongoing FII selling influenced by a strengthening dollar, rising US bond yields, and reduced hopes for rate cuts. Earnings recovery during the upcoming result season will be closely monitored.