Markets continue to trade in green in late morning deals

23 Jan 2025 Evaluate

Domestic equity markets continued to trade in green in late morning deals on account of buying in Tech Mahindra, Ultratech Cement, Zomato, Tata Motors and Sun Pharma companies’ stocks. Meanwhile, broader indices outperformed their large peers with BSE Mid cap index and Small cap index gaining in the range of 1.15-1.85%. Positive cues from global markets supported domestic sentiments. Some support also came in as crude oil prices fell after tariff threats by U.S. President Donald Trump, and concerns about possible excess supply in the market due to the Trump administration's plan to maximize oil and gas production. On the BSE sectoral front, traders were seen pilling up positions in IT, Consumer Durables, Realty, TECK and Basic Materials, while selling was witnessed only in Oil & Gas and Bankex.

On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight. Back home, in the stock specific development, Waaree Energies rose after the company announced that its arm, Waaree Solar Americas Inc. has started its commercial production of 1.6 GW Solar Module line at its Unit situated at Brookshire, in Texas, USA.   

The BSE Sensex is currently trading at 76597.64, up by 192.65 points or 0.25% after trading in a range of 76202.12 and 76673.23. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 1.81%, while Small cap index up by 1.18%.

The top gaining sectoral indices on the BSE were IT up by 1.93%, Consumer Durables up by 1.86%, Realty up by 1.70%, TECK up by 1.41% and Basic Materials up by 1.33%, while Oil & Gas down by 0.22% and Bankex down by 0.10% were the only losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 2.47%, Ultratech Cement up by 1.70%, Zomato up by 1.69%, Tata Motors up by 1.61% and Sun Pharma up by 1.60%. On the flip side, Hindustan Unilever down by 1.14%, HCL Technologies down by 0.89%, SBI down by 0.60%, Kotak Mahindra Bank down by 0.40% and Nestle down by 0.27% were the top losers.

Meanwhile, Union minister Ashwini Vaishnaw has said India has emerged as the most trusted place amid disruptions across the word. He said that global investors and leaders are convinced about India's potential. He stated ‘Despite all the disruptions across the world, India has emerged as a trusted place. This is a country that believes in peace, inclusion and growth for everyone.’

Talking on the sidelines of the World Economic Forum Annual Meeting in Davos, he said India has a strong relationship with Switzerland and the free trade agreement with a European bloc comprising Switzerland will have huge benefits across sectors and states. 

Besides, on Donald Trump becoming the US president again, Vaishnaw said India and the US have strong ties and the relationship of trust between the two countries will help both the economies.  On whether India would benefit from developing tensions between Europe and China, he said India works with a policy of trust in its dealings with any country. He added ‘India doesn't believe in working with this country or that country as it is this country and that country for us.’

The CNX Nifty is currently trading at 23223.30, up by 67.95 points or 0.29% after trading in a range of 23090.65 and 23246.20. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Wipro up by 3.77%, Tech Mahindra up by 2.41%, Tata Consumer up by 2.10%, Bharat Electronics up by 1.72% and Tata Motors up by 1.70%. On the flip side, BPCL down by 1.21%, Hindustan Unilever down by 1.21%, Dr. Reddy's Lab down by 1.08%, HCL Technologies down by 0.99% and SBI down by 0.61% were the top losers.

Asian markets were trading  mostly in green; Jakarta Composite gained 49.6 points or 0.68% to 7,306.73, Shanghai Composite strengthened 25.26 points or 0.79% to 3,238.88, Straits Times rose 21.61 points or 0.57% to 3,802.82 and Nikkei 225 surged 324.3 points or 0.82% to 39,970.55. However, Hang Seng declined 37.89 points or 0.19% to 19,740.88 and KOSPI dropped 24.27 points or 0.95% to 2,522.79.


© 2025 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.
Loading...
Hold on