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Benchmark indices Sensex and Nifty pared initial gains and settled lower on Saturday due to selling in FMCG and IT shares. The 30-share BSE Sensex fell by 259.58 points or 0.36 per cent to settle at 71,423.65 as 24 of its components declined and six advanced. The Nifty declined 50.60 points or 0.23 per cent to 21,571.80.

Stock Market News: Domestic equity benchmark indices, Nifty 50 and Sensex, ended in red on Saturday's session due to losses led by information technology (IT) firms, Hindustan Unilever, and Reliance Industries. Conversely, private banks saw selective purchasing following the recent strong correction and steady Q3 earnings.

OpenAI has banned the developer of a bot mimicking Democratic presidential hopeful Congressman Dean Phillips, the first action the ChatGPT maker has taken in response to what it sees as a misuse of its artificial intelligence (AI) tools in a political campaign, the Washington Post reported on Saturday. OpenAI did not immediately respond to a Reuters' request for comment.

gold jewellery to smartphones to televisions to improve sales in the December quarter after struggling in most of 2023, latest earnings report of companies and market researchers' data show. In electronics, smartphone sales bounced back after five quarters of decline, driven by high sales of premium models such as Apple iPhones and Samsung Galaxy S23 series, and demand for large screens during the cricket world cup helped TV sales volume grow by 8-9% on year — up from 2% growth during January to September — last quarter, industry executives said. While overall gold demand has been muted due to record high prices that rose 15% in 2023 as per the World Gold Council, two of the largest retailers in this segment — Reliance Retail and Titan Company's Tanishq — said demand was robust in the October-December quarter. Titan in an investor note said the growth in gold last quarter exceeded the studded sales growth despite elevated prices and volatility. The company's jewellery division reported sales growth of 21%. Reliance Retail's chief financial officer Dinesh Taluja told analysts on Friday that the jewellery store format had a «very good» last quarter, driven by the festive and wedding buying season with its highest ever sales last Dhanteras. The country's largest retailer also grew electronic sales by 19% year-on-year last quarter.

Sonowal on Saturday said the country is moving towards an integrated approach where the Ayush system of medicine will be used along with the modern ones. The minister also laid the foundation stone for 'Ayush Diksha', a first-of-its-kind centre for the development of human resources for ayush professionals in future. The centre will be developed on the campus of Central Ayurveda Research Institute, Bhubaneswar.

Canadian companies have lost a step when it comes to innovation, experts say, pointing toward Ottawa having work to do to turn around stagnating business investment and an over-reliance on temporary workers.

Nifty Bank index snapped its 4-day losing streak on Saturday to close in the green, above the psychological resistance of 46,000. The index rose over 350 points while the Nifty50 closed 50 points lower at 21,571 on Saturday. “Amid rising optimism about AI, US markets surged over the weekend. However, domestic markets exhibited a subdued trend influenced by extended holidays, low volumes, and weekly options expiration,” said Vinod Nair, head of research at Geojit Financial Services. “Profit-booking was noted in IT and FMCG, while private banks witnessed selective buying post the recent sharp correction and stable Q3 earnings,” he said. The rally in the Nifty Bank index was led by gains in PNB, Kotak Mahindra Bank, IDFC First Bank, AU Small Finance Bank, among others. Some selling was seen in IndusInd Bank and Federal Bank. The Nifty Bank opened higher, but the momentum fizzled out soon, which took the index towards 45,640.

₹19,641 crore. The company's gross revenue rose by 3.2 per cent YoY to ₹2,48,160 crore led by continued growth momentum in consumer businesses. EBITDA for the quarter jumped 16.7 per cent YoY to ₹44,678 crore while the EBITDA margin rose 210 bps to 18 per cent.

fund managers. Druckenmiller’s approach to investing is defined by extensive research, effective risk management, and a sharp comprehension of macroeconomic trends. He demonstrates a willingness to adopt contrarian positions, exemplified by his profitable wager against the British pound.

Stock market today: Shares of the Indian Renewable Energy Dev Agency (IREDA) witnessed strong buying interest during early morning deals on Saturday. IREDA share price today opened upside at ₹141.40 on the BSE and went on to touch an intraday high of ₹145.80 per share within a few minutes of the stock market's opening bell. While climbing to this intraday high, IREDA share price touched a new lifetime high during the historic Saturday session.

Stock market today: After hitting below ₹1,000 apiece levels during the recent selloff in the Indian stock market, ICICI Bank share price regained the psychological ₹1,000 level during morning deals on Saturday. While regaining this, ICICI Bank's market cap also came above ₹7 lakh crore. ICICI Bank share price today opened upside at ₹1,005.95 per share level on the NSE and went on to touch an intraday high of ₹1,007.90 per share within a few minutes of the opening bell.

Bank of Baroda and Federal Bank - in the red. Shares of AU Small Finance Bank, Bandhan Bank, Punjab National Bank, HDFC Bank, Kotak Mahindra Bank and ICICI Bank were among the top gainers in the Nifty Bank index at that time. The Nifty Bank index has been volatile of late.

Stock in focus: After the announcement of Reliance results for Q3FY24 on Friday, market observers and stock investors are expected to remain vigilant about the movement of Reliance shares on Saturday. The Sensex heavyweight on Friday reported an 11 per cent YoY rise in net profit during the October to December 2023 quarter. The energy-to-telecom conglomerate's gross revenue in the third quarter of the current fiscal rose 3.2 per cent YoY to ₹2,48,160 crore.

Hindustan Zinc share price rose by about 1% during the Saturday trading session as analysts reported that the Vedanta Group company's Q3 earnings were in line with street projections. On Friday's session post the Q3 results, Hindustan Zinc shares jumped over 4%.

BSE Midcap index rose by 1.06%. Analysts say that the fact that Nifty ended a three-day losing skid was a good thing that happened on Friday.

Buy or sell stocks for today: Despite being Saturday today, dealing on Dalal Street will take place from 9 AM to 3:30 PM. The decision has come ahead of the Ram Temple ‘Pran Pratishtha’ ceremony in Ayodhya on Monday, January 22. So, the stock market in India will remain closed on the following Sunday (21st January 2024) and Monday (22nd January 2024).

Microsoft said on Friday that a Russian state-sponsored group hacked into its corporate systems on Jan. 12 and stole some emails and documents from its staffs' accounts. A Russian hacking group known in the cybersecurity industry as Nobelium, or Midnight Blizzard, used a «password spray attack» starting in Nov. 2023 to breach a Microsoft platform, the company said in a blog. Hackers use this technique to infiltrate a company's systems by using the same password across multiple accounts.

MUMBAI : Infrastructure conglomerate Adani Group has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed. The group released a total 28.67 million pledged promoter shares across Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd. Notably, the group has reduced its pledge positions related to ACC Ltd and Ambuja Cements Ltd to zero, from 11.72% and 100%, respectively.

11 per cent in consolidated net profit at ₹19,641 crore, compared to ₹17,706 crore in the year-ago period. The gross revenue in the third quarter of current fiscal rose 3.2 per cent year-on-year (YoY) to ₹2,48,160 crore led by continued growth momentum in consumer businesses. The gross revenue was largely led by retail, oil & gas segments, while the oil-to-chemicals (O2C) arm's revenue declined on on account of lower price realisation led by 5.3 per cent YoY decline in average brent crude oil prices.

An estimated 320 journalists around the world were imprisoned because of their work toward the end of 2023

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