Finance
Stock Market Highlights, Thursday, January 23, 2025: Benchmark market indices showed a rising trend on Thursday following some initial tremors, helped by strong purchasing demand in shares of the automotive, IT, cement, and some healthcare industries.
Early trading saw the BSE benchmark, the Sensex, drop as low as 76,202 before gaining strength and rallying to a high of 76,743, which was 543 points higher than the day’s low. At 76,520, the Sensex concluded the day up 115 points from its peak.
The NSE Nifty 50 ended the day 50 points higher at 23,205 after reaching highs and lows of 23,271 and 23,091, respectively.
UltraTech Cement’s stock shot up about 7% to Rs 11,400 within the Sensex 30 following the company’s better-than-expected Q3 results. The gains at the counter also lifted the spirits in other cement shares.
The other big winners on Thursday were Titan, Tata Motors, Tata Steel, Sun Pharma, Mahindra & Mahindra, and Tech Mahindra, with Zomato up 2.5%. However, SBI, Kotak Bank, Reliance Industries, Power Grid Corporation, and HCL Technologies all saw declines of more than 1%.
The BSE MidCap index rose 1.8% in the overall market today, while the SmallCap saw a 0.7% increase. With increases of more than 10% apiece, MidCap IT companies like CoForge and Persistent Systems were among the top movers.
The consumer durables, IT, healthcare, and automobile sectors all had gains of one to two percent, while the banking sector saw a more muted gain.
The overall market breadth was marginally positive, with more than 2,100 stocks advancing on Thursday as against 1,800-odd declining shares on the BSE.
Source: BS
