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Indian market closed in red on Friday, dragged lower by selling in heavyweight financial and energy stocks, as worries 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%.

Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that he sees the bearish pressure continue and to intensify as the index closed below 23,500 for the first time in several days. «The index remains below the crucial 50 EMA, reaffirming a bearish trend. Furthermore, the RSI remains in a negative crossover, signaling weak momentum. Sentiment stays subdued in the short term, with the potential for a decline toward 23,300 or 23,000. On the upside, resistance is observed at 23,550–23,600,» De said.

virtual digital assets (VDA) has been a rollercoaster. From skepticism to cautious exploration, the narrative has shifted significantly in recent years. As the global virtual digital assets market matures, it’s crucial for India to embrace a well-defined regulatory framework that nurtures innovation while safeguarding the interests of all stakeholders.

Britain’s Treasury chief has kicked off a China visit aimed at boosting economic and financial cooperation between the countries, as the U.K.’s Labour government seeks to reset strained ties with Beijing

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Subscribe to enjoy similar stories. Jørgen Boassen, a 50-year-old bricklayer and Trump admirer, was at the airport in Greenland’s capital Nuuk this week wearing a MAGA hat to cheer the arrival of Trump Force One. But Boassen, who helped organize the visit from Donald Trump, Jr., says he has no interest in President-elect Donald Trump’s entreaties to buy the icebound island.

Avenue Supermarts, which operates the retail chain of DMart, on Saturday announced that its standalone Q3 revenue jumped 17.5% year-on-year (YoY) to Rs 15,565 crore while profit rose 6.5% YoY to Rs 785 crore. The retailer's EBITDA margin fell to 7.9% in Q3FY25 as compared to 8.5% in Q3FY24 while the PAT margin also decreased to 5% vs 5.5% on a YoY basis.

Indian gem and jewellery market, currently valued at USD 85 billion, is poised for rapid growth, projected to reach USD 130 billion by 2030 according to the Gem & Jewellery Export Promotion Council (GJEPC), the apex trade body of the gem and jewellery industry. While addressing a press conference Vipul Shah, chairman of GJEPC said “GJEPC has invested Rs 150 crores in the global generic promotion of diamonds till date. To strengthen this effort, GJEPC partnered with De Beers to promote diamonds through Retail Alliance in India, with a formal MoU signed on January 7."” De Beers Group, the world’s leading diamond company, and GJEPC announced the commencement of a strategic collaboration to strengthen the natural diamond narrative within the Indian gem and jewellery trade.

capital markets regulator is not planning any more measures to curb or restrict activity in derivatives, Sebi's Wholetime Member Ananth Narayan said on Saturday. An expert group under former RBI executive director G Padmanabhan continues to work on bettering the system, and some moves on ease of doing business and better risk management are being mulled, he added. «At this point in time, there is no thought of Sebi taking any further steps in this particular regard,» Narayan said, addressing an event organised by Sebi-promoted NISM here.

EMA Partners India on Saturday said it is looking to raise Rs 76 crore on the NSE's Emerge platform through an initial public offering, which will open for public subscription on January 17. The issue with a price band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor investors will open for a day on January 16, the company said in a statement. At the upper end of the price band, the company will raise about Rs 76.01 crore.

markets extended their decline over the past five sessions and ended the week on a negative note. While the week started on a bearish note, the Nifty violated a few key levels on higher and lower time frame charts. Along with the weak undercurrent, the trading range widened again as the Nifty moved in a 745-point range. The volatility spiked up, and India Vix surged 10.16% to 14.91 on a weekly basis. Following a thoroughly bearish undertone, the headline index closed with a net weekly loss of 573.25 points (-2.39%).

Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Mirae Asset MF, Tata MF, Birla Sunlife Insurance, Max Life Insurance, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Al Mehwar Commercial Investments and Natixis Investment Managers, among others, have been allotted shares in the anchor round.

CLSA has initiated coverage on the recently listed Hyundai Motor India with an «Outperform» rating and a target price of Rs 2,155, predicting an upside potential of 20.5%, citing the automaker's strong growth prospects and strategic expansion plans. Describing Hyundai’s positioning as ‘aspirational yet affordable’, the brokerage firm notes that while Hyundai is currently experiencing a period of low growth amid elevated utilization rates, the company's outlook remains promising.

This much-anticipated episode will air on the popular streaming app Aha on January 14. Recently, trade analyst Manobala Vijayabalan also added fuel to the buzz of the ‘Kalki 2898 AD’ actor getting hitched. Taking to X (formerly Twitter), a trade analys the sparked a frenzy among fans by posting the name “Prabhas” accompanied by a wedding and white bride’s emoji. Although the cryptic post offered no additional details, it ignited speculation about whether the beloved actor is preparing to tie the knot soon.

Barack Obama, turned to Kimberly Clausing, a former member of the Biden administration and author of a book extolling the virtues of free trade. «Everyone in this room agrees with your book,» Furman said. «No one outside of this room agrees with your book.» The academics and policy wonks gathered in the hotel conference room laughed, but the comment captured something real: After decades of helping shape policy on weighty matters such as taxes and health insurance, economists find that their influence is at a low ebb.

«Now, within utilities, you can very well define a few infra companies, a few cement companies, a few power companies but as a theme power should continue doing well,» says Mayuresh Joshi, Head Equity, Marketsmith India. Give us a sense of what kind of momentum you are expecting when it comes to the markets next week, because we have had numbers come in from TCS, good set of numbers, IT is looking good. Next week, we get a little bit deeper into the quarter three earnings. Tell us which sectors you think are going to emerge as winners or if you could put it that way, the one with the least amount of cuts coming in when it comes to the earnings preview for quarter three. Mayuresh Joshi: So, two things, as we see earnings forecast chart put through Panaray, our institutional software, and the sector rotation graph that we probably have, which takes into account earnings that have happened till the quarter gone by and expectations of consensus earnings over the next few quarters, BFSI as a space selective probably looks the strongest as far as the EPS ratings are concerned.

«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.

Britain’s Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.‘s Labour government seeks to reset frayed ties with Beijing

Hindustan Unilever, Britannia, ITC, Godrej Consumer Products, Colgate Palmolive and Adani Wilmar are all introducing ‘access packs’ of premium brands across traditional and modern retail channels, including kirana stores, to target price-sensitive consumers amid muted urban demand. HUL, the country’s largest FMCG company, recently launched a Rs 10 pack of its Surf Excel Liquid, a sharp drop from its earlier entry price of Rs 110. Similarly, Colgate has introduced select premium toothpaste variants at Rs 80, down from the previous lowest price of Rs 170.

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.