POST-MARKET SUMMARY 24th January 2025

Indian markets declined on January 24, weighed down by persistent foreign investor outflows, weak corporate earnings, and slowing economic growth. FIIs have offloaded equities worth over $6 billion in 2025 so far. While the earnings season has largely aligned with muted expectations, uninspiring management commentary has further dampened sentiment. 

Among sectors, barring FMCG and IT, all other indices ended lower with auto, oil & gas, and realty sectors being the worst hit. 

NIFTY:  The index opened 22 points lower at 23,183 and made a high of 23,347 before closing at 23,092. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 23,150 while its immediate support is at 23,000. 

BANK NIFTY: The index opened 43 points lower at 48,546 and closed at 48,367. Bank Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed around 48,600 while immediate support is around 48,100.

Stocks in Spotlight

▪  Mankind Pharma: Stock fell nearly 6% intraday after the company's Q3 net profit declined over 16% year-on-year to Rs 385 crore, impacted by rising expenses.

▪  Thyrocare Technologies: Stock jumped over 6% in early trade after the company reported a 24% year-on-year rise in Q3 net profit to Rs 19.11 crore for the October-December period of FY25.

▪  Shree Digvijay Cement: Stock fell over 5% in intraday trade following the announcement of a decline in Q3 net profit to Rs 0.39 crore.

Global News

▪  Asia-Pacific markets climbed on Friday, after the S&P 500 hit record highs overnight as U.S. President Donald Trump called for lower interest rates and cheaper oil prices.

▪  The European stock markets shrugged off Trump's tariff calls, with the Euro Stoxx 600 index reaching a new high and Germany's DAX rising for the seventh consecutive session to a fresh record.

▪  Oil prices rose slightly on Friday but remained set for a weekly decline after U.S. President Donald Trump unveiled sweeping plans to boost U.S. production and urged OPEC to take measures to lower crude prices.

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