Stock Market Today, Wednesday, January 15: India stock markets today will track global developments, including foreign investors’ selling, to chart their trajectory for the day. At 7:00 AM, GIFT Nifty futures were up 35 points at 23,306 level.
On Tuesday, the BSE Sensex and NSE Nifty50 snapped their 4-day losing streak to settle up to 0.4 per cent higher. The 30-share Sensex gained 169.62 points, or 0.22 per cent, to settle at 76,499.63.
The NSE Nifty50 ended at 23,176.05, rising 90.10 points or 0.39 per cent.
Notably, the rebound in stock markets came even as FIIs/FPIs remained net sellers of Indian equities worth Rs 8,132 crore on Tuesday. The huge selling was on the back of rupee trading near record low levels of 86/US dollar.
Brent crude oil is also holding $80 per barrel mark. This is despite reports suggesting Donald Trump may order his administration to vastly expand oil and gas drilling on federal lands and waters, reversing Biden-era moves to minimise fossil fuel development on US acreage.
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Stock Market Prediction Today, Jan 15: How to trade Sensex today? Key levels to watch on Nifty today?
According to stock market analysts, the stock markets remain weak and every minor pullback should be used as an opportunity to sell/book profit.
Jatin Gedia, Technical Research Analyst, Mirae Asset Sharekhan says:
The downtrend in Nifty is still intact and, hence, minor degree pullbacks towards resistance zones of 23,270 – 23,300 should be considered as a selling opportunity. On the downside, we expect the Nifty to drift lower towards 23,000 – 22,670 from a short-term perspective. A move above 23,340 shall lead to a further short covering.
Shrikant Chouhan, Head Equity Research, Kotak Securities says:
We believe that the intraday market texture is non-directional, and traders are possibly waiting for a breakout on either side.
For day traders, 23,260 on the Nifty and 76,800 on the Sensex would act as a key level to watch. If the market moves above that, it could bounce back to 23,400-23,425/77,500-77,600. On the other hand, if it falls below 23,130/76,300, selling pressure is likely to accelerate. Below that level, the market could slip to 23,000-22,950/75,900-75,800.
Rupak De, Senior Technical Analyst, LKP Securities says:
The Nifty appears positive for the short term as long as it remains above 23,135. On the upside, it could move towards 23,400, and a decisive move above 23,400 may lead to higher levels.
Stock Market Triggers Today
Domestically, the December quarter results season holds key for stock-specific action. Around 24 companies are scheduled to report their Q3FY25 results today, including Ceat Q3 results, HDFC Life Q3 results, LTTS Q3 results, and Bank of Maharashtra Q3 results.
According to Sankaran Naren, executive director and chief investment officer of ICICI Prudential Mutual Fund, there is little scope for margin expansion to continue among Indian corporates. Hence, for earnings growth to pick up — especially in the light of the earnings downgrades observed over the past two quarters — strong top-line growth will be critical. This growth hinges on a recovery in actual spending. READ FULL INTERVIEW HERE
Globally, the UK will release its Core Inflation rate for December, Core PPI Input and Output data for December, and Retail Price index data.
The US, too, will report its CPI inflation data for December. Besides, a host of US Fed members, including Williams, Barkin, Kashkari, and Golsbee.
IPOs Today:
In the mainboard segment, Laxmi Dental IPO will close for subscription today. Thus far, Laxmi Dental IPO has been subscribed 16.03 times.
Meanwhile, in the SME segment, Barflex Polyfilms IPO will close for subscription today; Kabra Jewels IPO and Rikhav Securities IPO will open for subscription today; and Sat Kartar Shopping IPO allotment will be finalised.
Global Markets today:
Asia-Pacific markets were mixed on Wednesday. In Japan, a Reuters Tankan survey showed that business sentiment among large manufacturers rebounded in January, with the Tankan reading coming in at plus 2, after dipping into negative territory for the first time in 10 months in December.
Consequently, Japan’s Nikkei 225 was up 0.75 per cent, while the broad-based Topix gained 0.86 per cent.
Meanwhile, South Korea’s Kospi added 0.95 per cent while the small-cap Kosdaq Index added 0.53 per cent. South Korean investigators are attempting to arrest impeached President Yoon Suk Yeol for a second time.
Hong Kong’s Hang Seng index, however, was down 0.36 per cent, and China’s Shanghai Composite fell 0.19 per cent. Reports suggest the US may see a 60 per cent tariff imposed on Chinese imports after Donald Trump’s inauguration.
On Wall Street, meanwhile, the producer price index, which measures wholesale inflation, climbed just 0.2 per cent in December, lower than Dow Jones’ estimate of a 0.4 per cent rise.
Thus, the Dow Jones Industrial Average climbed 0.52 per cent, while the S&P 500 advanced 0.11 per cent overnight. In contrast, the tech-heavy Nasdaq Composite slipped 0.23 per cent.