Stock Market Updates: Sensex Tanks Over 750 Points, Nifty Below 23,000; IT Sheds 3%

Last Updated: January 27, 2025, 13:16 IST

Indian benchmark equity indices BSE Sensex and Nifty 50 decreased at market open on Monday, in the middle of combined international and residential signs. .

Indian benchmark indices, Sensex and Nifty 50, expanded their losses for the 2nd straight session on Monday, pushed by weak company revenues, unpredictability around United States profession plans, and continuous international fund discharges.

At the day’s reduced, the BSE Sensex was down by 763 factors, or 1%, at 75,434, while the Nifty 50 dropped 240 factors, or 1.04%, to 22,851 around 11:03 am.

By 1 PM, the BSE Sensex had actually dropped by 717.44 factors, or 0.94%, to 75,473.02, while the Nifty 50 stood at 22,863.20, down 229 factors, or 0.99%.

Among the 30 supplies on the BSE Sensex, just 6 were selling the eco-friendly. ICICI Bank led the gainers with a 1.75% rise, complied with by SBI, Hindustan Unilever, Asian Paint, UltraTech Cement, andMaruti Suzuki On the various other hand,Power Grid Corp was the largest loser, down 3.67%, complied with by Zomato, Tech Mahindra, HCLTech, and Tata Motors.

On the Nifty 50, 10 supplies uploaded gains, with Britannia Industries seeing a 1.93% surge, complied with by ICICI Bank, Hindustan Unilever, Larsen & & Toubro, andNestle India Losses were led by BEL, which went down 2.68%, complied with by Power Grid Corp., HCLTech, JSW Steel, and Trent.

Sector- sensible, the Media index experienced one of the most, dropping 3.83%, complied with by Pharma (-2.35%) and IT (-2.19%). Other remarkable decliners consisted of the Nifty Metal (-1.78%), Consumer Durables (-1.68%), and Oil & & Gas (-1.61%) indices. The Auto index was down by 0.89%, and the Bank, Financial Services, Private Bank, and Realty indices additionally finished reduced.

The just industry in the eco-friendly was the Nifty PSU Bank, which acquired 0.12%.

In the wider market, losses were much more obvious, with the Nifty Midcap 100 down 2.25% and the Nifty Smallcap 100 shedding 3.51%. India’s threat scale, the India VIX, rose 7.36% to 17.98.

Global Cues

Markets in the Asia-Pacific area revealed a combined efficiency, with Australia, Taiwan, and South Korea shut for vacations. Japan’s Nikkei 225 dipped 0.33%, while the Topix acquired 0.62%. Hong Kong’s Hang Seng index increased by 0.85%, while the CSI 300 saw a mild decrease of 0.07%.

In the money markets, the United States buck damaged on Friday, noting its worst week because November 2023, driven by decreased issues over tolls from the Trump management. However, those fears resurfaced after Trump mentioned his purpose to enforce brand-new procedures onColombia Trump’s remarks concerning a “pleasant” conversation with President Xi Jinping and his belief that a trade deal with China could be reached gave mixed signals. The US dollar dropped by as much as 0.8% against a basket of currencies before reducing losses to close down 0.65%, ultimately posting its biggest weekly loss since November, down 1.8% from Monday.

Some analysts cautioned that the dollar could strengthen if the US changes its tariff or interest rate policies. On Monday, the dollar firmed as traders weighed the potential impact of Trump’s tariff plans, with the Federal Reserve expected to keep interest rates steady. The dollar index, which measures the US currency against six major currencies, stood at 107.6, still close to the one-month low it reached last week.

Global stocks had a lackluster session, with the MSCI world index little changed. US stocks showed similar weakness, with the S&P 500, Dow Jones, and Nasdaq all posting losses. Meanwhile, China’s stock markets and the yuan strengthened after Trump’s remarks, with the blue-chip index up 0.8% and the yuan gaining 0.7% to 7.239 against the dollar in offshore trading.

Oil prices stabilized after Trump mentioned that he would ask Saudi Arabia and OPEC to lower oil prices. US crude futures edged up to $74.66 a barrel, while Brent crude increased 0.3% to $78.50. Amelie Derambure, a senior portfolio manager at Amundi, noted that Trump’s pro-America policies, which call for lower oil prices, could benefit other global markets, including Europe. European stocks showed a slight boost, with the STOXX 600 rising 0.3%, driven by strong earnings from Burberry, though it later retreated to a flat finish.