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Markets Today: WPI, CPI; GIFT Nifty; HCLTech; Quadrant, Capital Infra IPOs

In previous trading session, the Sensex plunged 1,048.90 points, or 1.36 per cent, to close at 76,330.01. Similarly, the Nifty50 dropped 345.55 points, or 1.47 per cent, ending the day at 23,085.95

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Tanmay Tiwary New Delhi

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Stock Markets Today, January 14, 2025: Benchmark indices, Sensex and Nifty50, are expected to react to inflation data, Q3 earnings reports, and mixed global cues on Tuesday, January 14, 2025.
 
At 6:32 AM, GIFT Nifty futures signalled a strong start for the markets, trading 111 points higher at 23,273.
 
In previous trading session, the Sensex plunged 1,048.90 points, or 1.36 per cent, to close at 76,330.01. Similarly, the Nifty50 dropped 345.55 points, or 1.47 per cent, ending the day at 23,085.95. 
Domestic cues
 
Investor focus will be on the release of December Wholesale Price Index (WPI) data later today.
 
 
Meanwhile, the retail inflation, measured by the consumer price index (CPI), eased to a four-month low of 5.22 per cent in December, down from 5.48 per cent in November, primarily due to a decline in food inflation.
   
Net direct tax collections have risen 15.9 per cent to Rs 16.9 trillion between April 1 and January 12 of FY25, according to the latest figures from the income tax department.
A sharp selloff in domestic equities on Monday led to the rupee breaching the major 86-per-dollar mark, recording its steepest single-day decline in nearly two years. Rising crude oil prices and a strengthening US dollar added to the currency's downward pressure.
 
The risk-reward outlook for the Indian market remains unfavourable despite the recent correction, according to a note by Kotak Institutional Equities. It highlighted concerns over overvalued stocks, limited scope for earnings upgrades due to optimistic assumptions, and the likelihood of global bond yields staying elevated for an extended period. 
 
Other market triggers
 
Q3 results 
 
HCLTech, the country’s third-largest information-technology (IT) services firm, had net profits of Rs 4,591 crore in the third quarter (October-December) of FY25. Profits were up 5.5 per cent year-on-year (Y-o-Y) and 8.4 per cent sequentially. READ MORE
 
Other companies reporting Q3 results include Shoppers Stop, SRM Energy, HDFC Asset Management Company and Network18 Media & Investments among others. 
 
FII, DII activity
 
FIIs sold shares worth Rs 4,892.84 crore on January 13, while DIIs bought shares worth 8,066.07 crore.
 
IPO market
 
Quadrant Future IPO (Mainline), Capital Infra IPO (Mainline) Delta Autocorp IPO (SME), Avax Apparels IPO (SME) and BR Goyal IPO (SME) will list on the exchanges. 
   
Laxmi Dental IPO (Mainline) will enter Day 2 of its subscription.
 
Meanwhile, Barflex Polyfilms IPO (SME) and Sat Kartar IPO (SME) will enter Day 3 of their subscriptions. 
 
Global cues
 
Asia-Pacific markets displayed mixed performance on Tuesday following a similarly varied session on Wall Street. The Dow surged while the Nasdaq declined, reflecting a shift in investor sentiment away from technology stocks.
 
ASX 200 rose 0.55 per cent after enduring three consecutive days of losses. In contrast, Nikkei dropped 0.73 per cent and the Topix slipped 0.34 per cent. Kospi added 0.4 per cent.
 
In the US, the Dow Jones gained 0.86 per cent as investors pivoted towards non-technology stocks like Caterpillar, JPMorgan, and UnitedHealth. The Nasdaq Composite fell 0.38 per cent, while the S&P 500 edged up 0.16 per cent.
 
Commodity market
 
Oil prices continued its upward trajectory for a third consecutive session. Brent crude surpassed $80 per barrel, marking its highest level in over four months, as expanded US sanctions on Russian oil raised concerns about the potential impact on exports to major buyers like India and China. Brent crude futures rose 1.43 per cent to $80.90 per barrel, while US WTI crude climbed 3.29 per cent, reaching $79.09 per barrel.
   
Gold prices retreated on Monday as the US dollar surged to its highest level in over two years, buoyed by a strong jobs report that reinforced expectations of a cautious approach from the Fed regarding interest rate cuts this year. Spot gold declined 1.1 per cent to $2,658.84 per ounce, after briefly dipping 1 per cent earlier in the session. US gold futures also fell, dropping 1.4 per cent to settle at $2,677.60.
 
Here's how analysts are assessing today's (January 14) trading session:
 
Shrikant Chouhan, head of equity research at Kotak Securities
 
For day traders, 23260/77000 would act as a trend decider level; below this, weak sentiment is likely to continue. If it falls below this level, the market could slip to 22900-22800/76000-75700. On the flip side, if we move above 23260/77000, the pullback could extend to 23400-23450/77300-77500.
 
Rupak De, senior technical analyst at LKP Securities
 
If the Nifty sustains above 23,000 over the next few days, it could signal a potential recovery. Conversely, a decisive fall below this level might trigger a deeper correction.
 

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First Published: Jan 14 2025 | 7:06 AM IST

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