POST-MARKET SUMMARY 27th January 2025

On January 27, the Indian stock market started the Budget week on a negative note, ending lower for the second consecutive session amid broad-based selling pressure. All sectoral indices closed in the red, with Media down 4.7%, IT shedding 3.4%, and Oil & Gas, Metal, Consumer Durables, Pharma, and Energy losing 2% each.

NIFTY: The index opened 152 points lower at 22,940 and made a high of 23,007 before closing at 22,829. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 22,900 while its immediate support is at 22,770.

BANK NIFTY: The index opened 486 points lower at 47,881 and closed at 48,064. Bank Nifty has formed a bullish candlestick pattern with an upper shadow on the daily chart. Its immediate resistance level is now placed around 48,200 while immediate support is around 47,900.

Stocks in Spotlight

▪  DAM Capital Advisors: Stock surged over 12% intraday following the announcement of a 144% year-on-year increase in net profit, which stood at Rs 51.5 crore for the December quarter.

▪  Bank of India: Stock jumped nearly 6%, driven by positive momentum following the announcement of strong Q3FY25 results. The bank reported a 34.6% year-on-year growth in net profit, reaching Rs 2,516.7 crore.

▪  RPP Infra Projects: Stock fell over 4% despite the company securing a letter of acceptance for new projects from the Greater Chennai Corporation.

Global News

▪  European shares declined on Monday, led by a slump in the technology sector. Concerns arose after China unveiled an upgraded low-cost, low-power AI model, raising fears about rivals’ profit margins and increased demand for expensive chips.

▪  Gold crossed $2,760 per ounce on Monday, driven by optimism that the Federal Reserve might lower interest rates later this year.

▪  The yield on the UK’s 10-year gilt fell below 4.56%, approaching a one-month low, as investors shifted focus to upcoming central bank decisions and U.S. trade developments.

▪  WTI crude oil futures hovered around $74.8 per barrel on Monday, reacting to evolving trade policies from the Trump administration.

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