Driving Naari Programme launched in Chandigarh
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will remain shut on January 26 on account of the Republic Day. There will be no trading in equities, equity derivatives, interest rate derivatives and currency derivatives, while securities lending and borrowing will also not take place on Monday.
Wholesale commodity markets, including metals and bullions, will also remain closed.
Bears ruled Dalal Street on January 25 as frontline indices Sensex and Nifty erased their gains from the previous session, dragged by banking, FMCG and IT stocks.
At close, the Sensex was down 359.64 points or 0.51 percent at 70,700.67, and the Nifty was down 101.40 points or 0.47 percent at 21,352.60.
Major Nifty gainers included Hindalco Industries, NTPC, Hero MotoCorp, Dr Reddy’s Laboratories and Divis Lab, while losers were Adani Enterprises, LTIMindtree, HCL Technologies, Tech Mahindra and Power Grid.
All of the sectoral indices, barring Nifty Realty, were trading in the red. The financial services, pharma, bank, IT, FMCG and Healthcare index all settled lower by over one percent.
In the broader markets, the midcap indices corrected along with the benchmarks but the smallcap indices outperformed, with Nifty Smallcap closing higher by 0.5 percent.
“The benchmark indices closed on a negative note taking cues from the global market as the positive upside coming from the US economy delayed the optimism of a rate cut. FIIs are in a selling mode as the yields on the US benchmark bonds rise. The broader market is unable to hold gains as the concerns of high valuations, subpar results, and persisting geopolitical tension in the Middle East, followed by an F&O expiry, are weighing down the market,” said Vinod Nair, head of research at Geojit Financial Services.
The rupee ended flat at 83.12 per dollar on Thursday versus Wednesday’s close of 83.13.
“The rupee traded in a sideways-to-negative manner, hovering around 83.10. The stability in the dollar index, which is holding around 103, is limiting the movement in the currency. The Indian currency has demonstrated remarkable stability over the past year, supported by a robust economic growth outlook and interventions by the Reserve Bank of India (RBI). The ongoing stability is expected to persist as long as the dollar remains within the 103 range,” said Jateen Trivedi, VP and research analyst at LKP Securities.
