Stock Market LIVE: Nifty below 18000; Adani port top loser

January 25, 2023 admin

Stock Market LIVE: Indian stock market indexes opened marginally lower on Wednesday, as SGX Nifty indicated in the morning. The Nifty index opened at 18093.35 levels down by 24.95 points while Sensex made a negative opening of 144.02 points at 60834.74 levels.

Soon after opening, the domestic markets extended their losses and are trading lower with a cut of around one and a half percent each in early morning deals as traders remained on the sidelines ahead of the monthly F&O expiry for January derivatives contracts later in the day. Also, investors avoided taking any long positions ahead of the holiday on Thursday on account of Republic Day.

Persistent selling pressure from the foreign institutional investors (FIIs) weighted down on the domestic sentiments. Foreign institutional investors (FII) have net sold shares worth Rs 760.51 crore on Tuesday, January 24, as per provisional data available on the NSE.

Stock Market LIVE Today

Market Live at 12 pm IST, the Indian stock market indices, Sensex and Nifty are trading lower by 1.17 percent and 1.18 percent respectively. The Bank Nifty is down by 2.19 percent at 12 pm IST. The broader markets are also trading lower at this moment, as Nifty midcap and smallcap indexes are trading lower by 1.30 percent and 0.96 respectively at this time.

Among the sectors, all sectoral indices are trading lower at this moment. The sectors that are dragging down the markets are Nifty PSU Bank, Nifty Bank, and Financial Services. The gainers in the Nifty 5o index at this moment are Bajaj Auto, Maruti Suzuki, and Hindalco while the top losers are Adani Ports, SBI, and IndusInd Bank

Stocks in News Today

The research firm Jefferies has maintained a ‘Buy’ rating on Maruti Suzuki with a target price of 11250 per share. The company reported the Q3 results on Tuesday and its EBITDA was 5% above estimates led by better realization. The demand looks positive as it has 2.5 months of order book along with depleted channel inventories. The share price of Maruti Suzuki is trading higher by 0.89 percent at Rs 8775.80 per share

The HFCL has bagged an export contract of the amount of Rs 82.97 crore from one of the renowned telecom companies for the supply of Optical Fiber Cables and Accessories. The share price of HFCL is trading lower by 0.70 % at Rs 70.65 per share

Welspun Enterprises has fixed 13 February as the record date for the share buyback. The share price of Welspun Enterprises is trading lower by 3.25% at Rs 145.75 per share

Also, read Best Stock Market Books You Must Read-2023

Stock Market Prediction Next Week (23- 27 Jan 2023)

If you like the post “Stock Market LIVE: Nifty below 18000; Adani port top loser ” please share it with others

Happy Investing!

Editor’s Desk