Stock Market Live: Sensex Gains 320 Pts, Nifty50 Above 23,000; Wipro Up

Stock Market Live Updates: Sensex Rallies 320 Points, Nifty50 Above 23,000; Wipro Gains 2%

Positive Market Opening

The stock markets opened on a positive note today, with strong early gains across key indices. The Sensex surged by 287 points, reaching 76,125, reflecting investor optimism. Similarly, the Nifty 50 followed suit, rising by 65.55 points, or 0.28%, and opening at 23,090.20.

GIFT Nifty and Market Sentiment

The GIFT Nifty is setting a hopeful tone for India's broader indices, showing a gain of 0.05% in early trade. As of 8:30 am, GIFT Nifty futures were hovering around 23,161, signaling optimism for the market open. This follows a challenging session on Tuesday, when the Sensex tumbled by 1.60%, shedding 1,235 points to close at 75,838.36, and the Nifty dropped by 1.37%, sliding 320.1 points to end at 23,024.65. Weak corporate earnings and uncertainty around potential trade policies under President Trump had previously weighed heavily on investor sentiment.

UCO Bank Q3 Result

For the quarter ending December 31, 2024, UCO Bank reported Net Interest Income (NII) of ₹2,378 crore, a 19.62% year-on-year growth over ₹1,988 crore in Q3FY24. NII increased 17.21% year-on-year to ₹6,932 crore for the nine months ending in December 2024, compared to ₹5,914 crore for the same period in 2023. The Net Interest Margin (NIM) was 3.17% for the quarter ending December 31, 2024, compared to 2.84% for the same period the year before. The NIM was 3.12% for the nine months ending December 2024, compared to 2.88% for the nine months ending December 2023.

Global Market Performance

• US Markets: Wall Street closed on a positive note on Tuesday as investors welcomed President Trump. The Dow Jones Industrial Average (DJIA) led the gains, rising 537.98 points (+1.24%) to close at 44,025.81, while the S&P 500 added 52.58 points (+0.88%) to settle at 6,049.24. The NASDAQ Composite also advanced, gaining 126.58 points (+0.64%) to finish at 19,756.78.
• Asian Markets: Asian markets showed a mixed performance in early trading. Japan’s Nikkei 225 led the gains, rising by 576.73 points (+1.48%) to close at 39,604.71. South Korea’s KOSPI and Australia’s ASX 200 also edged higher, gaining 18.73 points (+0.74%) and 28.7 points (+0.34%), respectively. In contrast, Chinese markets struggled, with the Shanghai Composite dropping 30.18 points (-0.93%) to 3,212.45, and the Shenzhen Component falling 96.6 points (-0.94%) to 10,209.09. Hong Kong's Hang Seng Index (HSI) saw the steepest decline, losing 272.04 points (-1.35%) to finish at 19,834.51.

Previous Day's Market Decline

On January 21, the Indian stock market witnessed a significant sell-off, closing with notable losses across key indices. The benchmark Sensex plummeted by 1,235.08 points, or 1.60%, to settle at 75,838.36. The Nifty 50 also experienced a substantial decline, shedding 299.45 points, or 1.28%, to close at 23,045.30. The downturn was attributed to weak corporate earnings, global market uncertainties, and investor concerns over domestic and international economic policies.

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Categories: Indian Stock Market, Nifty 50, sensex