India Stocks Review
Indices extend gains for 2nd session; most IT cos gain
This story was originally published at 17:28 IST on 23 January 2025
Register to read our real-time news.Informist, Thursday, Jan. 23, 2025
By Akash Mandal
MUMBAI – Benchmark indices extended gains for the second consecutive session and ended higher Thursday, backed by strong gains in UltraTech Cement and information technology stocks. Unlike the volatility seen Wednesday, headline indices were in the green throughout most of the session.
The Nifty 50 closed at 23205.35 points, up 50 points or 0.2%, and the BSE Sensex ended at 76520.38 points, up 115.39 points or 0.2%. Broader market indices outperformed the benchmark ones, bouncing back from a heavy decline of Wednesday. Shares of Coforge and Persistent Systems led the gains in the mid-cap indices after their December quarter earnings were viewed positively by investors. The Nifty small- and mid-cap indices ended 0.8-1.9% higher.
Shares of UltraTech Cement soared nearly 7% after it reported a consolidated net profit of INR 14.70 billion, beating the Street's estimates of INR 13 billion. The company posted a consolidated revenue of INR 171.93 billion, again higher than estimates. The stock was the biggest contributor to the gains in the Nifty 50.
Most sectoral indices ended in the green, with only those pertaining to banks, financial services, and oil and gas ending in the red. The Nifty IT gained almost 2%, extending gains for the second straight session.
IT stocks rose, tracking overnight gains in the US market and boosted by strong corporate earnings. Shares of Coforge soared almost 12% as investors viewed the company's 8.4% sequential growth in revenue in a positive light, despite the company missing the Street's view on net profit. Shares of Persistent Systems and Zensar Technologies jumped nearly 11% each after positive earnings for the December quarter. Shares of IT majors Wipro and Tech Mahindra ended 2.8% and 1.8% higher, respectively.
Automobile stocks gained and the Nifty Auto ended a four-session declining streak. Shares of Mahindra & Mahindra and Eicher Motors gained over 2%. Bajaj Auto and Apollo Tyres were the only stocks in the index which ended lower. Consumer Durables stocks were the biggest gainers in the session, with shares of Amber Enterprises India and Dixon Technologies (India) gaining 7.7% and 5.1%, respectively.
Meanwhile, shares of index heavyweight Reliance Industries fell more than 1% and limited the gains in the Nifty 50. The stock was among many oil and gas companies that declined. Shares of Bharat Petroleum Corp. ended 2.3% lower after the company Wednesday reported a net profit of INR 46.49 billion for the December quarter, compared with analyst estimates of INR 49.29 billion. Shares of Hindustan Petroleum Corp. declined more than 2% ahead of its earnings later in the day.
Banks and financial services stocks also declined Thursday, with Nifty Bank, Nifty Private Bank, Nifty PSU Bank, and Nifty Financial Services all ending in the red. Shares of Kotak Mahindra Bank, HDFC Bank, and Axis Bank ended 0.1-1.2% lower.
Among other stocks, shares of Pidilite Industries surged more than 5% despite missing analysts' estimates for its December quarter earnings. The company reported a consolidated net profit of INR 5.52 billion, compared to the Streets' view of INR 5.82 billion. The company registered an on-year growth in both revenues and net profit for the 18th consecutive quarter. Shares of Go Digit General Insurance soared more than 14% after its net profit for the December quarter almost tripled on year.
Meanwhile, shares of AU Small Finance Bank and Jio Financial Services fell more than 3% and 2%, respectively. Shares of Housing & Urban Development Corp. extended losses for the fourth consecutive session, closing 2.6% lower. The stock has declined almost 6% in that period. Shares of Vardhman Textiles, Ramkrishna Forgings, and Inox Wind declined nearly 5% each and were the worst hit in the Nifty 500.
* Of the Nifty 50 stocks, 22 rose and 17 fell, 1 was unchanged
* Of the Sensex stocks, 18 rose and 12 fell
* On the NSE, 1,575 stocks rose, 1,236 fell, and 77 were unchanged
* On the BSE, 2,119 stocks rose, 1,842 fell, and 106 were unchanged
* Nifty Consumer Durables: up 2%; Nifty IT: up 1.8%; Nifty Oil & Gas: down 0.5%
BSE NSE
76520.38 points, up 115.39 points or 0.2% 23205.35 points, up 50 points or 0.2%
S&P BSE Sensitive Index | Nifty 50 |
Lifetime High: 85978.25 (Sept. 27, 2024) | : Lifetime High: 26277.35 (Sept. 27, 2024) |
Record Close High: 85836.12 (Sept. 26, 2024) | : Record Close High: 26216.05 (Sept. 26, 2024) |
2025 1st day close: 78507.41 (Jan. 1) | : 2025 1st day close: 23742.90 (Jan. 1) |
2025 Closing High: 79943.71 (Jan. 2) | : 2025 Closing High: 24188.65 (Jan. 2) |
2025 Closing Low: 75838.36 (Jan. 21) | : 2025 Closing Low: 23024.65 (Jan. 21) |
2025 High (intraday): 80072.99 (Jan. 3) | : 2025 High (intraday): 24226.70 (Jan. 2) |
2025 Low (intraday): 75641.87 (Jan. 21) | : 2025 Low (intraday): 22976.85 (Jan. 21) |
2024 1st day close: 72271.94 (Jan. 1) | : 2024 1st day close: 21741.90 (Jan. 1) |
2024 Closing High: 85836.12 (Sept. 26) | : 2024 Closing High: 26216.05 (Sept. 26) |
2024 Closing Low: 70370.55 (Jan. 23) | : 2024 Closing Low: 21238.80 (Jan. 23) |
2024 High (intraday): 85978.25 (Sep. 27) | : 2024 High (intraday): 26277.35 (Sept. 27) |
2024 Low (intraday): 70001.60 (Jan. 24) | : 2024 Low (intraday): 21137.20 (Jan. 24) |
2023 1st day close: 61167.79 (Jan. 2) | : 2023 1st day close: 18197.45 (Jan. 2) |
2023 Closing High: 72410.38 (Dec. 28) | : 2023 Closing High: 21778.70 (Dec. 28) |
2023 Closing Low: 59288.35 (Feb. 27) | : 2023 Closing Low: 17311.80 (Oct. 17) |
2023 High (intraday): 72484.34 (Dec. 28) | : 2023 High (intraday): 21801.45 (Dec. 28) |
2023 Low (intraday): 58699.20 (Jan. 30) | : 2023 Low (intraday): 17098.55 (Jan. 17) |
2022 1st day close: 59183.22 (Jan. 3) | : 2022 1st day close: 17625.70 (Jan. 3) |
2022 Closing High: 63284.19 (Dec. 1) | : 2022 Closing High: 18812.50 (Dec. 1) |
2022 Closing Low: 51360.42 (Jun. 17) | : 2022 Closing Low: 15293.50 (Jun. 17) |
2022 High (intraday): 63583.07 (Dec. 1) | : 2022 High (intraday): 18887.60 (Dec. 1) |
2022 Low (intraday): 50921.22 (Jun. 17) | : 2022 Low (intraday): 15183.40 (Jun. 17) |
2021 Closing High: 61305.95 (Oct. 14) | : 2021 Closing High: 18338.55 (Oct. 14) |
2021 Closing Low: 46285.77 (Jan. 29) | : 2021 Closing Low: 13634.60 (Jan. 29) |
2021 High (intraday): 61353.25 (Oct. 14) | : 2021 High (intraday): 18350.75 (Oct. 14) |
2021 Low (intraday): 46160.46 (Jan. 29) | : 2021 Low (intraday): 13596.75 (Jan. 29) |
2020 Closing High: 47751.33 (Dec. 31) | : 2020 Closing High: 13981.95 (Dec. 30) |
2020 Closing Low: 25981.24 (Mar. 23) | : 2020 Closing Low: 7610.25 (Mar. 23) |
2020 High (intraday): 47896.97 (Dec. 31) | : 2020 High (intraday): 14024.85 (Dec. 31) |
2020 Low (intraday): 25638.90 (Mar. 24) | : 2020 Low (intraday): 7511.10 (Mar. 24) |
2019 High (intraday): 41809.96 (Dec. 20) | : 2019 High (intraday): 12293.90 (Dec. 20) |
2019 Low (intraday): 35287.16 (Feb. 19) | : 2019 Low (intraday): 10583.65 (Jan. 29) |
2018 High (intraday): 38938.91(Aug. 28)) | : 2018 High(intraday): 11760.20 (Aug. 28) |
2018 Low (intraday): 32483.8 (Mar. 23) | : 2018 Low (intraday): 9951.9 (Mar. 23) |
2017 High (intraday): 34005.37 (Dec. 26) | : 2017 High(intraday): 10515.10 (Dec. 26) |
End
Edited by Akul Nishant Akhoury
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