Stock Market Updates: Indian indices started trading higher on January 23; the Nifty closed above 21,700. With a gain of 581.06 points, or 0.81 percent, the Sensex closed at 72,004.71 points. Concurrently, the Nifty saw an increase of 170.10 points, or 0.79 percent, to end at 21,741.90. Of the stocks that were listed, 1953 had an increasing trend, 648 had a declining trend, and 149 had no change.
Trends To Dominate Markets This Week
During this week of shorter holidays, stock markets will be driven by quarterly profits, global trends, and the trading activity of international investors. In observance of Republic Day on Friday, the equity markets will also be closed. Axis Bank, JSW Energy, Bajaj Auto, DLF, ACC, and JSW Steel will all be releasing their Q3 earnings this week. The 30-share BSE benchmark dropped 1.57 percent, or 1,144.8 points, last week. Regular trading hours were held on the NSE and BSE on January 20. -Stock Market Updates
Expectations related to the forthcoming budget could influence stock and industry-specific fluctuations. The global focus will be on US economic statistics and Japan’s monetary policy, along with a close eye on geopolitical developments, according to Santosh Meena, Head of Research at Swastika Investmart Ltd.
The market experienced sustained volatility over the past week, marked by Nifty and Sensex closing with a significant decline of more than 1 percent. The heightened volatility was further intensified by Bank Nifty’s notable underperformance, mainly attributed to a substantial decrease in HDFC Bank’s stock following its earnings report, as noted by Meena. He continued, “Further pressure on the market was applied by Foreign Institutional Investors (FIIs) for their aggressive selling after HDFC Bank’s results.”
The global oil benchmark’s trading trend Trends in the rupee-dollar exchange rate and Brent crude would also affect market trading.
