POST-MARKET SUMMARY 30th January 2025

On January 30, equity markets closed higher, extending their rebound for a third straight session as investors capitalized on recent dips. Despite mixed corporate earnings, optimism prevailed ahead of the Union Budget and RBI’s policy meeting. The rally followed RBI’s liquidity measures on January 27, including a ₹60,000 crore injection via open market operations and a $5 billion swap auction on January 31, fuelling hopes of a rate cut. 

Sectorally, realty led the gains with a 1.8% rise, followed by pharma and energy, which climbed 1.2% and 1.3%, respectively. However, IT stocks declined 1.1% as investors booked profits. Despite mixed corporate earnings, overall market sentiment remained positive. 

NIFTY: The index opened flat at 22,169 and made a high of 23,332 before closing at 22,249. Nifty has formed a bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 23,350 while its immediate support is at 23,140. 

BANK NIFTY: The index opened 41 points higher at 49,206 and closed at 49,311. Bank Nifty has formed a bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed around 49,550 while immediate support is around 49,000.

Stocks in Spotlight

▪  Voltas: stock plunged nearly 14% after the company’s Q3 earnings missed estimates, despite returning to profit with Rs 132 crore and an 18% revenue growth to Rs 3,105 crore.

▪  Acme Solar Holdings: Stock surged 10%, hitting the upper circuit after strong Q3 results were announced earlier. Profit soared 152.1% YoY, while revenue grew 5.24%.

▪  Suzlon Energy: Stock rose nearly 5%, hitting the upper circuit again after Q3 results were announced earlier. Net sales jumped 90.64% YoY, driving continued investor optimism.

Global News

▪  European stock markets rose on Thursday as investors assessed key earnings and economic data while awaiting the European Central Bank’s latest monetary policy decision.

▪  Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected. However, attention remained on potential tariffs threatened by U.S. President Donald Trump on Mexico and Canada, the two largest crude suppliers to the U.S.

▪  Gold prices rose on Thursday as investors worried about potential import tariffs from U.S. President Donald Trump while awaiting a key inflation report to gauge the Federal Reserve’s policy path.

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