Stock Market LIVE Updates: GIFT Nifty suggests a gap-down opening; US, Asian markets fall

Indian equity indices ended on weak note for the fourth consecutive sesson on January 13 with Nifty below 25,100. At close, the Sensex was down 1,048.90 points or 1.36 percent at 76,330.01, and the Nifty was down 345.55 points or 1.47 percent at 23,085.95.

We wrap up today’s edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

All the sectoral indices ended in the red with realty index down 6.7 percent and oil & gas, power, PSU, metal, media down 3-4 percent. …Read More

Bears remained at the helm as the Nifty continued to breach crucial levels. The index slipped below its previous swing low on the daily chart, indicating increasing bearishness. However, it held the 23,000 mark, which remains a key level to watch. 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.

The global markets witnessed a significant sell-off, prompting a similar response in domestic markets due to strong US payroll data suggesting fewer rate cuts in 2025. This has strengthened the dollar, driven up bond yields, and made emerging markets less attractive. Recent GDP downgrades and slowing earnings amidst higher valuations are weighing heavily on market sentiment. Expect volatility in the near term, with the 2025 budget, Q3 results, RBI policy, and Trump’s policies are key factors to define the trend in the short-term.

The rupee weakened sharply by 0.60 paise, closing at 86.61, marking its lowest level amid a rapid fall of over 1% in the past week. The decline is attributed to higher crude prices, which climbed above $81 per barrel following sanctions on Russia by the Biden administration in the US. Elevated crude prices have further widened India’s import bill, adding pressure on the rupee. The trading range for the rupee is seen with support near 87.00 and resistance around 86.25, as participants keep a close eye on geopolitical developments and commodity trends.

US imposing sanctions on Russian oil exports pushed the rupee to a fresh low against the dollar, which in turn triggered massive correction in domestic equity markets as overseas investors continued to desert the local share market.

Wide-spread selling across the sectors fuelled along with massive exits in mid and small-cap stocks further worsened the sentiment. Rising crude oil prices would raise concerns of a spike in domestic inflation, which could further delay any rate cut hopes from the RBI in the near to medium term.

Markets witnessed a sharp decline on Monday, losing over 1.5% as the ongoing corrective phase intensified. After opening with a gap-down, the Nifty attempted to recover early losses but faced sustained selling pressure in heavyweight stocks across sectors, driving the index lower. It ultimately closed near the day’s low at 23,085.95.

The sell-off was broad-based, with realty, metal, and energy sectors taking the biggest hits. The broader indices also experienced significant losses, plunging nearly 4% each.

The Nifty has decisively broken below the November 2024 low of 23,263.15, accompanied by a noticeable rise in the volatility index, signaling further downside risks. The next significant support is at the 22,700 level, although oversold conditions in select heavyweight stocks may lead to brief pauses in the downtrend.

Traders are advised to maintain a “sell on rise” approach for the index while prioritizing risk management. Among sectors, IT, FMCG, and select pharma stocks are relatively stable, while others remain under considerable pressure. Participants should adjust their stock-specific positions accordingly.

Mayhem was seen in the Indian equity markets as relentless selling continued across the board and the Index kept on compounding its losses to conclude the session at 7 months low i.e. 23,085.95 with a loss of 345.55 points. All the sectors ended the trade in negative territory where Realty and Media witnessed an extreme beating. Carnage in the Broader markets dented the market sentiments as Mid and Smallcaps tumbled by 4.02% & 4.10% respectively.

The strong bearish candle on the daily chart denotes a strong underlying bearish trend; however, the Index is approaching its long-term trendline support (from Covid19 lows) i,e, at 22,800 from where a reversal can be anticipated as the markets have entered the oversold territory.

Indian rupee ended 61 paise lower at 86.58 per dollar on Monday versus Friday’s close of 85.97.

Indian equity indices ended on weak note for the fourth consecutive sesson on January 13 with Nifty below 25,100.

At close, the Sensex was down 1,048.90 points or 1.36 percent at 76,330.01, and the Nifty was down 345.55 points or 1.47 percent at 23,085.95. About 533 shares advanced, 3414 shares declined, and 131 shares unchanged.

Biggest Nifty losers were Trent, Adani Enterprises, Bharat Electronics, BPCL, Adani Ports, while gainers included TCS, IndusInd Bank, Axis Bank and HUL.

All the sectoral indices ended in the red with realty index down 6.5 percent and oil & gas, capital goods, power, PSU, metal, media down 3-4 percent.

The BSE midcap and smallcap indices shed 4 percent each.

#1 Profit zooms 42.7% to Rs 131.3 crore Vs Rs 92.01 crore, YoY

#2 Revenue grows 8.4% to Rs 287.3 crore Vs Rs 265.05 crore, YoY

#3 EBITDA jumps 43.4% to Rs 86.6 crore Vs Rs 60.37 crore, YoY

#4 Margin expands 740 bps to 30.1% Vs 22.7%, YoY