Summary of the Day's Market Performance

Market Overview

• Sensex: Fell 241.30 points (-0.31%) to close at 77,378.91.

• Nifty: Dropped 95 points (-0.40%) to end at 23,431.50.

• Midcap Index: Declined 2.13%.

• Smallcap Index: Lost a sharp 2.44%.

• Sectoral Performance:

  • Outperformer: IT (closed in the green).

  • Underperformers: Power, PSU, Realty, Healthcare, PSU Bank sectors (all down 2% each).

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-2,254.68 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹3,961.92 crore (Net Buyers)

FIIs continued their selling streak, offset by significant DII inflows.

1. Rising Crude Oil Prices:

   • Supply concerns drove crude prices higher, increasing pressure on emerging markets like India.

2. Strengthening Dollar Index:

   • A stronger dollar added to investor woes, leading to capital outflows.

3. IT Sector Resilience:

   • IT stocks outperformed, supported by strong Q3 results and optimism about demand revival.

4. Broader Weakness:

   • Broader indices bled as uncertainties surrounding global policy and high valuations kept buyers at bay.

5. Key Data Awaited:

   • Investors await the US non-farm payroll data, which could provide direction to global markets.

• What is QIP (Qualified Institutional Placement)?

  • A QIP is a fundraising tool used by listed companies to raise capital by issuing equity shares to qualified institutional buyers (QIBs).

  • It allows companies to raise funds without undergoing lengthy regulatory processes associated with public issues.

Key Stock Movements and News

• Top Gainers:

  • TCS, Tech Mahindra, Wipro, Infosys, HCL Technologies.

• Top Losers:

  • Shriram Finance, IndusInd Bank, Adani Enterprises, NTPC, Bharat Electronics.

1. Delta Corp & Nazara Tech:

   • Shares surged as the Supreme Court stayed GST show-cause notices to online gaming companies.

2. Tech Mahindra:

   • Rose 4%, marking its biggest single-day jump in 21 weeks, ahead of Q3 results.

3. FMCG Valuations:

   • Nomura calls FMCG valuations reasonable, recommending HUL, ITC, and Marico as competitive pressures ease.

4. TCS:

   • Shares soared 6%, buoyed by strong deal wins and the highest Q3 order book in five years. Management is optimistic about FY25-FY26 growth.

5. BHEL & ONGC:

   • Signed an MoU to explore collaboration in renewable energy projects.

6. IRCTC:

   • Gained 5% after Macquarie initiated coverage with an 'outperform' rating and a 15% upside forecast.

7. Aditya Birla Fashion:

   • Board to consider fundraising via QIP or preferential issue on January 15.

8. Adani Wilmar:

   • Shares plunged 9% after promoters announced plans to sell up to 20% stake via OFS.

1. TCS: Strong Q3 results and a robust order book indicate sustained momentum.

2. IRCTC: Positive outlook with Macquarie's outperform rating and upside potential.

3. Tech Mahindra: Anticipation of positive Q3 results driving short-term gains.

The market ended lower amid weak global cues, rising crude oil prices, and a strengthening dollar index. Despite IT sector resilience, broader indices witnessed sharp sell-offs. Continued FII outflows remain a concern, though DII inflows provided some support. With key data such as US non-farm payrolls awaited, markets may consolidate further in the near term. Stocks like TCS, Tech Mahindra, and IRCTC remain in focus due to strong fundamentals and sectoral tailwinds.

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