POST-MARKET SUMMARY 9th January 2025
On January 9, Indian equity markets extended their previous session losses, with benchmark indices ending near the day's lows amid widespread selling across sectors. Despite mixed global cues, the market opened flat but soon turned bearish, as selling pressure intensified throughout the session.
Sectorally, all indices except FMCG closed in the red. Capital goods, IT, metal, oil & gas, PSU Bank, power, and realty sectors were the major laggards, declining by 1-2%.
NIFTY: The index opened flat at 23,674 and made a high of 23,689 before closing at 23,526. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 23,630 while its immediate support is at 23,450.
BANK NIFTY: The index opened 123 points lower at 49,712 and closed at 49,503. Bank Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed around 49,800 while immediate support is around 49,200.
Stocks in Spotlight
▪ Swiggy: Stock jumped 3.5% after the launch of its new app Snacc, which offers 10–15-minute delivery for breakfast items, coffee, baked goods, and more.
▪ TCS: Stock dropped nearly 2% ahead of its Q3 results, which were scheduled to be announced after market hours on Thursday. Explore the key highlights of TCS' performance here: TCS Q3FY25 Results: Profit, Margins Meet Expectations
▪ Anand Rathi Wealth: Stock rose nearly 3% after the company announced plans to consider a bonus issue at its upcoming meeting on January 13.
Global News
▪ European stocks overcame early losses to edge higher on Thursday, as gains in miners offset declines in retailers. However, uncertainty about the monetary policy path and U.S. tariff plans kept bond markets under pressure.
▪ Gold prices retreated on Thursday due to profit-booking after reaching a near four-week peak in the previous session. Meanwhile, the focus shifted to the US jobs report due on Friday for insights into the Federal Reserve’s 2025 interest rate path.
▪ Asia-Pacific markets tumbled on Thursday in a volatile session, as investors worried that the Federal Reserve might delay policy easing due to inflation concerns. Meanwhile, China’s persistent consumer disinflation further dampened sentiment.
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