Stock Market Today: The domestic stock market posted modest gains in early trading on Tuesday, January 7, with buying in almost every sector.
As of 9:24 am, the S&P BSE SENSEX was trading 394.39 points or 0.51% higher at 78,359.38 and the NSE’s NIFTY50 index was trading 135.60 points or 0.57% higher at 23,751.65.
Of the 50 constituents of the NIFTY50 index, 43 stocks rose in value, 6 stocks were in the red and 2 stocks remained unchanged.
On SENSEX, 27 out of 30 stocks traded in positive territory.
Zomato shares were the biggest decliner, falling over 4%.
Foreign institutional investors (FIIs) offloaded shares worth Rs 2,575.06 crore on Monday, according to exchange data.
Stocks featured in the news
After Zomato’s stock more than doubled in value in 2024, Jefferies analysts say 2025 could be a breather year and the stock could move into a consolidation phase. is predicted to be high.
The brokerage warned that aggressive strategies by existing players and the entry of new competitors could lead to higher discount rates, posing risks to Zomato’s profitability in the medium term.
According to a Moneycontrol report, in addition to Zomato’s Blinkit, competitors such as Swiggy’s Instamart, Zepto and Amazon are aggressively competing for quick commerce market share, the brokerage said.
BPCL shares rose 1.5 per cent on the BSE as the board of directors of Bharat Petroleum Corporation Limited (BPCL) gave in-principle approval to the initial public offering of BPCL’s joint venture Maharashtra Natural Gas Limited (MNGL). It was trading at ₹288.95 per share. Gail, I.G.L.
The IPO size will be over Rs 1,000 crore, the company said in an exchange filing.
IGL will hold 50% stake in the joint venture MNGL, while BPCL and GAIL will hold 22.5% stake each. The Maharashtra Industrial Development Corporation (MIDC) also holds a 5% stake in the company.
sector watch
All sectoral indexes remained positive, with oil and gas counters leading the gains.
The BSE Oil and Gas Index was trading 606.55 points or 2.34% higher at 26,579.39.
broader market
BSE Midcap index was trading at 46,135, up 341.93 points or 0.75%, while BSE Smallcap index was trading at 54,872.05, up 534.68 points or 0.98%.
world market
Asian stocks rose on Tuesday, tracking Wall Street’s positive lead as some investors expected U.S. President-elect Donald Trump to adopt a less aggressive tariff stance than he promised when he took office. did.
MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 0.16% in early Asian markets, while Japan’s Nikkei average rose 2%, led by gains in tech stocks.
In China, the CSI300 index reversed early losses and rose 0.12% in the previous session, while the Shanghai Composite Index fell 0.09%.
Hong Kong’s Hang Seng Index fell 0.43%.
(Information provided by Reuters)
