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«On the higher side, 23,750 is the key area. Until and unless Nifty not crosses those level, there would not be any confidence on any kind of minor pullback. So, 23,750 needs to cross on a weekly closing basis, then only we may see some again interest on the buying side,» says Rajesh Palviya, Axis Securities. Now, what do we make of this? We have not got any support at 23,500. Rajesh Palviya: So, this is the third time where we are slipped below to 200-day moving average in the last two months. So, that clearly shows that confidence is very low in market and FII supply pressure is very high at this juncture. So, these kind of supply pressure keeps on continuing in this market. We will not be able to sustain above 200-day moving average. This is the fifth consecutive day where we are trading below to 200-day moving average for both the indices, Nifty as well as for the Bank Nifty. And Bank Nifty has shown a very deeper cut like 4.5% during this week. So, the kind of supply pressure in the banking and financial is clearly showing that still market is not trying to find any kind of bottom at this juncture. We are almost trading near to crucial support area of 23,300, which is the previous swing low, and if we look at the entire rally after the general election in June 2024, we are now almost there at that level only.

Tata Consultancy Services (TCS) led the rally in large-cap information technology shares, as investors were encouraged by the country's largest software exporter's commentary on the demand outlook after its third-quarter results. The Nifty IT Index gained 3.4% on Friday, led by a 5% jump in TCS shares. The company posted a 12% increase in net profit in the December quarter compared to the previous year.

Subscribe to enjoy similar stories. The first advance estimates released on Tuesday forecast India's growth at 6.4%, the slowest in four years. However, this number will undergo repeated revisions in subsequent releases.

Just Dial on Friday reported a net profit of Rs 131.31 crore for the quarter ended December 31, 2024 which was up 43% over Rs 92 crore reported in the year ago period. The Reliance Retail Ventures promoted company reported net revenues at Rs 287.33 crore in Q3FY25, higher by 8.4% over Rs 265 crore reported in the corresponding quarter of the previous financial year. The October-December quarter earnings were announced after market hours and shares of Just Dial today ended at Rs 1034.60 on the BSE, down by Rs 40.35 or 3.75% over the Thursday closing price.

Mudrex, a global crypto investment platform, is celebrating its 7th anniversary on January 10 with the announcement of a fee-free trading day on January 12, 2025, for all coins. This special gesture comes as the platform celebrates a year of extraordinary growth, including a 200% increase in its user base, which now exceeds 3 million, and a 20X surge in monthly trading volume, reaching $200 million. Commenting on the occasion, Alankar Saxena, Co-Founder and CPO of Mudrex said, “This fee waiver is our way of thanking our community for their unwavering support and trust”.

portfolio investors to make granular disclosures about their investors holding any ownership or economic interest. At present, certain foreign portfolio investors (FPIs) with equity assets under management (AUM) exceeding Rs 25,000 crore are required to provide granular details of all their investors or stakeholders on a look-through basis. The norms are aimed at preventing the possible round-tripping by certain promoters using the FPI route.

Brent crude futures gained $3.50, or 4.6%, to $80.42 a barrel by 1422 GMT, reaching $80 a barrel for the first time since Oct.7. U.S. West Texas Intermediate crude futures advanced $3.57, or 4.8%, to $77.49.

Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece. The offer for sale (OFS) included an option to additionally sell up to 8.44 crore shares, or 6.50 per cent equity.

capital on Friday as rupee hit record low amid consistent buying from retailers and stockists, according to the All India Sarafa Association. The precious metal ended the previous session at Rs 80,300 per 10 grams. However, silver traded flat at Rs 93,000 per kg on Friday.

Bombay Burmah Trading Corporation, its promoters including Nusli Wadia, his sons Ness and Jehangir, and others on Friday settled a disclosure lapses case with markets regulator Sebi after paying Rs 2.12 crore towards settlement amount. In all, a total of 18 entities settled the case pertaining to flouting various provisions of securities market norms. The order came after the entities proposed to settle the violations «without admitting or denying the findings» by paying settlement amounts.

The United Nations says the world economy resisted battering by conflicts and inflation last year and is expected to grow a subdued 2.8% in 2025

Nifty is currently placed at the downside breakout of the support of around 23,500 levels (previous swing lows). A decisive slide below the said support could open the next downside of around 23,260 and lower in the short term. Immediate resistance is at 23,700, said Nagaraj Shetti.

Bannari Amman Sugars Ltd.(up 0.04%) stood among the top gainers.

On the BSE, Classic Filaments(down 13.90 per cent), GTPL Hathway(down 11.99 per cent), Gujarat State(down 10.96 per cent), Tyroon Tea Co(down 10.81 per cent) and Alkosign Ltd.(down 10.37 per cent) stood among the top losers in today's trade.

Benchmark NSE Nifty closed 95.0 points down at 23431.5 amid selling in frontline bluechip counters.

Marico Ltd.(up 1.05%), Nakoda Group Of Industries Ltd.(up 0.72%), Hindustan Unilever Ltd.(up 0.28%), Tata Consumer Products Ltd.(up 0.28%) and Britannia Industries Ltd.(up 0.27%) stood among the top gainers.

energy stocks, as concerns over corporate earnings dampened market sentiment while IT stocks stood out as the only gainers after quarterly update from sector leader TCS suggested early signs of a demand recovery. The benchmark BSE Sensex lost 241.30 points or 0.31% to close at 77,378.91, while the broader Nifty 50 index closed at 23,431.50, lower by 95.00 points or 0.4%.

Shares of Phoenix Mills Ltd.(up 1.36 per cent) ended the day as top gainers in the pack.

Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore, the telecom infrastructure firm said on Friday. Vodafone has sold 7.92 crore or 3 per cent stake in Indus Towers and used Rs 890 crore from the proceeds to clear lenders dues, the company said in a regulatory filing. "Vodafone Group Plc announces that it has successfully completed the placing of its remaining 79.2 million shares in Indus Towers Limited («Indus») representing 3.0 per cent of Indus' outstanding share capital through an accelerated book build offering on 5 December 2024," the filing said.

GMM Pfaudler, domestic brokerage firm Ambit has initiated coverage on the stock with a «Buy» rating and a 24-month target price of Rs 2,400, suggesting a substantial 89% upside for the stock. “GMM trades at 30x FY26E P/E (12x EV/EBITDA), a 25-35% discount to its peers given earlier growth/margin issues due to deceleration in end-user capex. Valuations should re-rate with end-user capex uptick driving earnings rebound. We bake in 9%/12%/14% rev/EBITDA/FCF CAGR and expect GMM to scale 5x over FY24-41E (7x, FY19-24),” said Ambit in its report.

Ashok Leyland Ltd. traded 2.11 per cent in Friday's trade at 01:38PM (IST). Around 300,728 shares changed hands on the counter. The scrip opened at Rs 214.15 and touched an intraday high and low of Rs 214.45 and Rs 207.60, respectively, in the session so far. Shares of the company of Ashok Leyland Ltd. quoted a 52-week high of Rs 264.70 and a 52-week low of Rs 157.65.