On the third trading day of the new year, Indian equity markets exhibited a subdued trend, with major indices ending in the red amid mixed sectoral performances and cautious investor sentiment.

Market Highlights

• Nifty 50: Closed at 24,004, down 0.76%

• Sensex: Declined by 0.90%, ending at 79,223

• India VIX: Fell by 1.46%, settling at 13.54, reflecting reduced market volatility

Sectoral Performance

• Top Gainers:

• Media: +1.70%

• Oil & Gas: +1.26%

• Consumer Durables: +0.69%

• Top Losers:

• IT: -1.41%

• Pharma: -1.23%

• Bank Nifty: -1.20%

In the broader market, the Nifty Midcap 150 slipped 0.25% to close at 21,419.30, while the Nifty Smallcap 250 fell by 0.19% to end at 17,973.05.

Top Movers

• Gainers:

• ITI Ltd.: ₹457 (+19.99%)

• Saregama India: ₹551 (+15.23%)

• Loser:

• Zomato: ₹27 (-4.13%)

Noteworthy News

1. WCIL: Secured a ₹139 crore contract from Vedanta for material handling at its JSG plant.

2. AFCONS: Received an LOI from DRDO for a ₹1,084.54 crore ship lift facility in Visakhapatnam.

3. Godrej Agrovet: Launched “Godrej Pride Hog,” a specialized pig feed for enhanced growth and health.

4. Mamaearth: Partnered with Zepto for a tree-planting campaign promoting sustainability.

5. Aarti Pharma: Faced a setback as its Vapi plant was ordered to close by the Gujarat Pollution Control Board.

Sectoral and Stock Insights

Among Nifty 50 components:

• Top Gainers:

• ONGC: +5.11% (₹258.65)

• Tata Motors: +3.13%

• SBI Life: +1.95%

• Top Losers:

• Wipro: -2.83% (₹295.20)

• HDFC Bank: -2.53%

• Adani Ports: -2.30%

Market breadth was relatively balanced, with 1,470 stocks advancing and 1,349 stocks declining, reflecting mixed sentiment.

Global Economic Calendar

Investors should keep an eye on key global events that could influence market trends:

• U.S. Jobs Data: Insights into labor market health and potential Federal Reserve policy moves.

• China Caixin Services PMI: A critical indicator of recovery in the service sector.

• Eurozone Retail Sales: A barometer for consumer spending trends.

Conclusion

The Indian equity markets displayed a cautious stance, weighed down by losses in IT, Pharma, and Banking stocks. However, select sectors such as Media and Oil & Gas offered a silver lining. As markets remain volatile, stay informed with our daily updates and for an in-depth analysis, watch our latest video on YouTube.

Stay tuned for tomorrow’s market insights and key updates!