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I) Nifty: opened at 22960 and touched a high of 23137, then a low of 22857, and closed at 22957 with a total of +128 points in Positive.
II) Bank Nifty: opened at 48642 and touched a high of 49247, then a low of 48449, and closed at 48866 with a total of +802 points Positive.
III) CNX Finance: opened at 22650 and touched a high of 22984, then a low of 22589, and closed at 22805, with a total of +422 points in Positive.
IV) Nifty Mid Select: open 11747 and touched a high of 11790, then a low of 11562 and closed at 11644, With a total of -77 points in Negative.
1. 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.
2. Balkrishna Ind:- Balkrishna Industries’ shares rose 3.4% after Nomura upgraded the stock to “buy,” citing strong growth prospects and attractive valuations. Nomura set a target price of Rs 3,242, expecting a 22% upside, driven by global market strength and strategic diversification. The company’s strong Q3 performance, robust market share, and investments in OTR tyre capacities support this outlook.
1. Anant Raj:- Shares of Anant Raj dropped significantly by up to 19.75% due to a global sell-off in technology stocks. The slump followed the launch of a low-cost Chinese AI model by DeepSeek, which has quickly gained popularity, overshadowing competitors like ChatGPT and contributing to market declines.
2. Apar Ind:- Apar Industries shares fell 20% after Q3 FY25 earnings showed a 19.7% profit decline despite 17.7% revenue growth. The company anticipates export challenges to ease while domestic business remains strong, particularly in conductors and cables.
On January 28, 2025, Indian benchmark indices experienced gains, primarily driven by the financial sector. The Nifty 50 rose by 0.27% to 22,890.25 points, while the BSE Sensex increased by 0.54% to 75,773.42 points. This upward movement was largely due to the Reserve Bank of India's recent liquidity measures, which have heightened expectations of a potential interest rate cut in February. Key financial stocks, including HDFC Bank, Axis Bank, and ICICI Bank, were among the top performers.
Axis Bank notably outperformed its peers, with its stock price climbing 3.82% to close at ₹984.10. This surge was accompanied by a trading volume of 414,988 shares, surpassing its 50-day average of 346,038.
Conversely, Power Grid Corporation of India faced a decline, with its shares falling 1.11% to ₹283.85, underperforming the broader market. The company's trading volume stood at 550,947, below its 50-day average of 665,085.
Despite the positive momentum in financial stocks, the overall market sentiment remains cautious due to concerns over upcoming U.S. Federal Reserve policies, the forthcoming union budget, and subdued earnings results. The pharmaceutical sector, in particular, saw a decline of 2.5%, reflecting apprehensions about the impact on AIDS drug manufacturers following a pause in U.S. foreign aid.
Financials Lead Gains in Indian Markets Amid Rate Cut Hopes
