Good morning from Ranchi! Let’s dive into the Indian stock market action for today, Tuesday, January 16, 2024. Both the Sensex and Nifty are witnessing a modest surge in the early hours, offering a sigh of relief after some choppy sessions last week.
Headline Indices:
Sensex: As of 10:58 AM IST, the S&P BSE Sensex is trading 68.52 points (0.10%) higher at 72,094.67.
Nifty: The Nifty 50 index is up 23.85 points (0.11%) at 21,734.65.
Market Mood:
The sentiment is cautiously optimistic this morning, supported by positive cues from global markets and a renewed hope for easing inflation worries. However, ongoing concerns about economic growth and geopolitical tensions might keep investors cautious throughout the day.
Sectoral Performance:
Gainers: The early gainers are led by the realty sector, followed by auto and media stocks. Top performers include Bharat Petroleum Corporation (BPCL), Eicher Motors, Titan Company, Adani Ports, and ONGC.
Losers: Financial stocks are facing some pressure, dragging down the IT sector as well. TCS, Bajaj Finance, Infosys, Divi’s Laboratories, and Tata Consumer Products are among the early laggards.
Top Gainers and Losers:
Rank Symbol Company Name Change (%)
1 Titan Titan Company Limited +2.45%
2 Bajaj Finance Bajaj Finance Limited +2.28%
3 ONGC Oil and Natural Gas Corporation Limited +2.17%
4 BPCL Bharat Petroleum Corporation Limited +1.92%
5 Eicher Motors Eicher Motors Limited +1.85%
6 TCS Tata Consultancy Services Limited -0.82%
7 Bajaj Finserv Bajaj Finserv Limited -0.91%
8 Infosys Infosys Limited -1.05%
9 Divi’s Labs Divi’s Laboratories Limited -1.20%
10 Tata Consumer Products Tata Consumer Products Limited -1.34%
Key Events to Watch:
Later today, the release of US consumer price index (CPI) data could significantly impact global market sentiment.
Investors will also keep an eye on any progress in resolving the ongoing geopolitical tensions.
Domestically, any news regarding upcoming Union Budget proposals might also generate short-term volatility.
