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I) Nifty: opened at 22940 and touched a high of 23007, then a low of 22786, and closed at 22829 with a total of -263 points in Negative.
II) Bank Nifty: opened at 47881 and touched a high of 48319, then a low of 47844, and closed at 48064 with a total of -303 points Negative.
III) CNX Finance: opened at 22357 and touched a high of 22494, then a low of 22320, and closed at 22383, with a total of -130 points in Negative.
IV) Nifty Mid Select: open 11940 and touched a high of 11958, then a low of 11694 and closed at 11722, With a total of -365 points in Negative.
1. Bank of India:- Bank of India share jumped 5.79 per cent at Rs 104 a piece on the BSE in Monday's intraday trade. This came after the public sector bank reported robust growth in the third quarter of the financial ye
2. Sobha:- SOBHA shareholders who were waiting for something to happen have been dealt a blow with a 29% share price drop in the last month. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on an 18% share price drop.
1. Anant Raj:- Prudent Corporate Advisory Services Ltd, Netweb Technologies India Ltd, Laurus Labs Ltd and Dhani Services Ltd are among the other losers in the BSE's 'A' group today, 27 January 2025.
2. Netweb:- Netweb Technologies share price: Netweb Technologies' shares fell 13% amid a global AI selloff spurred by DeepSeek’s low-cost AI solutions, challenging sector profitability and impacting companies reliant on advanced hardware like Netweb and NVIDIA.
On Monday, January 27, 2025, the Indian stock market experienced a decline of approximately 1%, primarily due to a series of disappointing earnings reports. The Nifty 50 index fell by 1.08% to 22,842.1 points, while the BSE Sensex decreased by 1.03% to 75,404.84 points. The downturn was largely attributed to a slowdown in government spending and urban consumption, which negatively impacted investor sentiment. Small and mid-cap stocks were particularly affected, with declines of 4.5% and 3%, respectively.
Despite the overall market downturn, ICICI Bank stood out by posting a 1.7% gain. This increase was driven by a healthy growth in loans, leading to a rise in quarterly profits.
In contrast, IDFC First Bank's shares plummeted by up to 8%, reaching a 21-month low. The bank reported a 53% year-over-year decline in net profit for the third quarter, primarily due to increased defaults in its microfinance segment. Non-performing loans surged by 49% compared to the previous quarter, totalling 4.37 billion rupees. Provisions and contingencies also doubled, further impacting profitability.
Additionally, UltraTech Cement is reportedly in advanced discussions to acquire HeidelbergCement India from its German parent company, HeidelbergCement. The German firm holds a 69% stake in its Indian unit, valued at approximately 33.8 billion rupees. This potential acquisition comes amid a competitive landscape, with rivals like the Adani Group also expressing interest in HeidelbergCement India's assets.
Key Developments in the Indian Stock Market on January 27, 2025
Earnings woes drag Indian shares down 1%, with ICICI Bank a lone standout
