Markets Today: Ultratech, IndiGo Q3; Denta Water IPO ends; Trump; Budget

Stock Market Today, Jan 24: The stock markets today will eye Q3 results of 81 domestic companies, Flash manufacturing PMI, IPOs, FII selling, and Budget news

Stock Markets Today, Friday, January 24, 2025: India stock markets may open mildly higher today, January 24, 2025, taking support from strong global markets. Asia Pacific markets are moving higher on Friday morning, taking lead from Wall Street gains overnight where US President Donald Trump pushed for lower interest rates and cheaper oil prices.

 

However, given the sluggish Q3 results and selling pressure at higher levels, amid dumping of shares by foreign investors, India stock markets may continue to consolidate in the near-term.

 

D-Street on Thursday, Jan 23:

The BSE benchmark Sensex ended a range-bound session at 76,520, up 115 points or 0.15 per cent. The NSE Nifty 50, meanwhile, signed the day off at 23,205, 50 points or 0.22 per cent higher on the NSE.  STOCK MARKET LIVE UPDATES

 

Global Markets Today, January 24:

Asia-Pacific markets climbed Friday, after the S&P 500 hit record highs overnight on Thursday, following Donald Trump’s comments.

 

The S&P 500 added 0.53 per cent, notching an all-time intraday high for the second straight session, to finish the day at 6,118.71.

 

The Dow Jones Industrial Average advanced 0.92 per cent to 44,565.07, while the Nasdaq Composite rose 0.22 per cent to 20,053.68.

 

Nearer home, Japan’s Nikkei opened 0.33 per cent higher as core inflation rate rose to a 16-month high at 3 per cent year-on-year (Y-o-Y) in December. The CPI announcement comes ahead of the Bank of Japan’s monetary policy meeting today.  Stocks to Watch, Jan 24: ICICI Bank, Dr Reddy's, HPCL, Indus Towers, HFCL

 

South Korea’s Kospi opened 0.62 per cent higher, while Australia’s S&P/ASX 200 was up 0.39 per cent.

In Singapore, the central bank eased its monetary policy in its Friday meeting, in-line with market watchers’ expectations.

 

Stock Markets Prediction Today

Against a positive global momentum, GIFT Nifty index was suggesting a higher open for Indian markets. The index was trading around 36 points higher at 23,299 levels at 7:00 AM.

 

That apart, the stock markets today will eye the Q3 results of 81 domestic companies, along with the flash Manufacturing PMI data for India, Japan, the US, the UK, Germany, and France.

 

Besides, the ongoing IPOs, FII selling, and news around likely Union Budget 2025 proposals will be on investors’ radar.

 

Q3 Results Today, January 24:

Alkyl Amines, AU Small Finance Bank, Bank of India, CreditAccess Grameen, DAM Capital, DCB Bank, DLF, Godrej Consumer Products, IndiGo (InterGlobe Aviation), JSW Steel, Shakti Pumps, Suven Pharma, Torrent Pharma, and Trident are among the 81 companies slated to report their Q3 results on Friday.

 

Among them, JSW Steel is expected to face a challenging Q3FY25, with analysts forecasting weaker earnings due to softer steel prices and subdued demand. READ PREVIEW HERE

 

As for IndiGo, analysts tracking the stock expect the low-cost airline to report a turnaround performance in the quarter ended December 31, 2024, on a sequential basis. On a year-on-year basis, however, the airline may see a slide in net profit growth due to the high base of last year and possible decrease in passenger load factor (PLF). READ MORE

 

Meanwhile, investors will also position themselves in stocks of 28 companies which will release their Q3FY25 results on Saturday, January 25, 2025.

 

These include Balkrishna Industries, Go Fashion (India), ICICI Bank, IDBI First Bank, JK Cement, Macrotech Developers, NDTV, NTPC, NTPC Green, and YES Bank.

 

Analysts expect ICICI Bank to see stable asset quality with lower slippages. The bank’s Q3 profit, they said, may decline around 2 per cent on a quarter-on-quarter (Q-o-Q) basis amid a soft loan-growth environment. It would still grow in the low double digit on a year-on-year (Y-o-Y) basis. READ MORE

 

IPOs Today:

On Friday, January 24, Denta Water and Infra IPO will enter its last day of subscription in the mainboard category.

 

In the SME Category, Rexpro Enterprises IPO will enter its last day of subscription; CLN Energy IPO will entes its Day 2 of subscription; and GB Logistics Commerce IPO and HM Electro Mech IPO will open their initial public offerings (IPOs) today.r

EMA Partners India, meanwhile, will list on the NSE SME platform.

 

Budget 2025 News

The central government is likely to grant one of the most significant and long-standing policy asks from the maritime industry — infrastructure status to ships as part of the harmonised list of infrastructure sectors — and may consider announcing it in the upcoming Budget, sources aware of the developments said. READ MORE

 

That apart, In the upcoming 2025-26 Budget, sectors such as renewable energy and pharmaceutical may see an increase in basic Customs duty (BCD) rates on a raft of items set to lose their concessional rates after the sunset clause ends on March 31 this year. READ MORE

 

How to trade Nifty Today? Levels for Sensex Today?

 

Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities:

The Nifty’s current trend reflects a cautious equilibrium, where gains continue to encounter persistent selling pressure. The 23,450–23,500 zone remains a tough barrier, reinforced by significant options writing. The broader range of 23,450 to 23,000 defines the market’s immediate boundaries.

 

Bullish momentum in Nifty remains elusive, with a solid base near 23,050–23,000 providing immediate support. A breakout beyond 23,300 could unleash short-covering, propelling the index toward the pivotal 23,500-mark.

 

For Bank Nifty, the 48,900–49,000 zone continues to act as a major hurdle, underpinned by significant options activity. The broader range of 49,500 to 48,100 defines the market's immediate boundaries. A strong base near the 48,300–48,100 zone offers support for potential recovery. A breakout above the 49,000 level could spark short-covering, propelling the index toward the critical 49,500 mark.

Shrikant Chouhan, Head Equity Research, Kotak Securities:

Till the Nifty is trading above 23,100 and the Sensex above 76200, the pullback formation is likely to continue. On the higher side, the market could bounce back to the 23,400-23,450/77,000-77,100 range. On the other hand, if it falls below 23,100/76,200, the sentiment could change, and the market may retest levels of 23,000-22,950/76,000-75,700.

 

Rupak De, Senior Technical Analyst, LKP Securities:

The Nifty index failed to break above the 50-EMA on the hourly chart on Thursday, indicating selling pressure at higher levels. The bearish trend is likely to persist as long as the index stays below 23,400. On the downside, support levels are observed at 23,150 and 23,000.

 

Jatin Gedia, Technical Research Analyst, Mirae Asset Sharekhan:

On the daily charts, we can observe that the Nifty is trading in the range of 23,420 – 23,000 since the last three sessions. Bollinger bands are contracting, indicating rangebound price action going ahead. A breach of the range on either side shall set the trend in that direction.

 

Daily and hourly momentum indicators have a positive crossover which is a buy signal. However, prices are not showing corresponding strength. Thus, a decisive range breakout is required for a move to develop.