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I) Nifty: opened at 24196 and touched a high of 24196, then a low of 23976 and closed at 24004 with a total of -183 points in Negative.
II) Bank Nifty: opened at 51567 and touched a high of 51671, then a low of 50904, and closed at 50988 with a total of -616 points Negative.
III) Sensex: opened at 80072 and touched a high of 80072, then a low of 79109, and closed at 79223, with a total of -720 points in Negative.
IV) Nifty Mid Select: open 13106 and touched a high of 13129, then a low of 12972, and closed at 13009, With a total of -85 points in Negative.
1. ITI Ltd shares:- Shares of ITI Ltd surged 13.5% to a new all-time high of Rs 432.45, driven by consistent upward momentum since October 2024. The stock has gained 37.3% in the past year and 38.5% over the last 6 months. With increasing volumes and technical strength, ITI Ltd has shown significant growth in short- and long-term trends.
2. Saregama India:- saw a 5.88% increase in stock price on January 3, 2025, outperforming its sector by 4.91%. The stock reached an intraday high of Rs 502.15. It is above several moving averages but below the 100-day average. The stock recorded a 6.86% performance compared to a 0.70% decline in the Sensex.
1. Zomato:- Zomato recently raised ₹8,500 crore in funding through a qualified institutional placement (QIP) for scaling up its quick commerce business infrastructure and towards marketing. The overall surge in valuations and visibility prompted its rival Swiggy to get listed in November.
2. Tanla Platforms:- Tanla Platforms shares rose 6% in early trading on January 2, following a nearly 12% increase on New Year's Day. The shares opened at ₹750.45, remaining stable compared to the previous close.
On January 2, 2025, the Indian stock market experienced significant movements across various sectors. Here are the key stock-specific highlights:
1. Ashok Leyland Surges on Strong Sales Data
Ashok Leyland's stock jumped up to 5% after the company reported a 5% year-on-year increase in total sales, signaling robust demand in the automotive sector.
2. Bajaj Finance Rallies on Positive Outlook
Bajaj Finance shares soared over 5% following a bullish outlook from Citi, which reaffirmed its 'buy' rating with a target price of ₹8,150, highlighting strong growth prospects.
3. Reliance Jio's IPO Plans Boost Parent Company Shares
Reports of Mukesh Ambani finalizing a mammoth ₹40,000 crore IPO for Reliance Jio, valuing the telecom company at $120 billion, positively impacted Reliance Industries' stock performance.
4. IT Sector Gains on Stable Demand Outlook
The Nifty IT index rose over 1%, with Infosys, HCL Tech, and LTTS among the top gainers, driven by expectations of stable demand and improved client sentiment post-U.S. elections.
5. Financial Stocks Lead Market Rally
Financial stocks, including Kotak Mahindra Bank and CSB Bank, gained approximately 0.5%, contributing significantly to the market's upward movement, supported by reports highlighting stable asset quality and attractive valuations.
6. Jai Corp Shares Plummet on Capital Reduction Proposal
Jai Corp shares nosedived 20% following Urban Infrastructure Holdings' capital reduction proposal, indicating potential concerns among investors regarding the company's future capital structure.
7. Hero MotoCorp Declines on Weak Sales Figures
Hero MotoCorp's stock fell 2.1% after the company reported a decline in monthly sales for December, reflecting challenges in the automotive market.
8. Avenue Supermarts Soars on Strong Quarterly Revenue
Avenue Supermarts shares surged 15% following a 17.5% increase in quarterly revenue, indicating robust performance in the retail sector.
9. Wockhardt Gains on Antibiotic Approval
Wockhardt's stock climbed 6.7% after receiving approval for its oral antibiotic, signaling positive developments in the pharmaceutical sector.
10. ONGC Rises on Analyst Upgrade
ONGC shares increased by 3.3% after Jefferies reaffirmed its 'buy' recommendation, reflecting optimism in the energy sector.
These movements highlight the dynamic nature of the Indian stock market, with sector-specific developments influencing investor sentiment and stock performance.
Key Developments in the Indian Stock Market on January 2, 2025
