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Infosys Beats Estimates, Axis Bank Sees Sequential Dip, Adani Stocks Rally as Hindenburg Disbands
Infosys Beats Estimates, Axis Bank Sees Sequential Dip, Adani Stocks Rally as Hindenburg Disbands
Written by - Fisdom Research
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January 16, 2025
2 minutes
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Market Snapshot
Benchmark indices Nifty and Sensex opened higher on January 16, marking their third consecutive session of gains.
Investor sentiment improved following better-than-expected US inflation data for December, raising hopes of further rate cuts by the Federal Reserve.
PSU bank and metal stocks led the market rally, while losses in FMCG stocks capped overall gains.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY PSU BANK
2.6
NIFTY PRIVATE BANK
0.9
NIFTY METAL
1.7
NIFTY OIL & GAS
0.9
NIFTY FINANCIAL SERVICES
1.2
NIFTY REALTY
0.7
NIFTY BANK
1.1
NIFTY AUTO
0.7
Top News
Infosys reported an 11.4% YoY rise in Q3 FY25 net profit to ₹6,806 crore, surpassing estimates, with revenue increasing 7.5% to ₹41,764 crore.
Axis Bank posted a 3.83% YoY rise in net profit to ₹6,304 crore for Q3 FY25, though profits declined 9% sequentially from the previous quarter.
Adani Group stocks surged up to 7% after US-based short seller Hindenburg Research announced its disbandment, marking the end of its operations.
BPCL board OK’s Rs. 1000 crore Maharashtra Natural Gas IPO
Coating emulsions and adhesives maker Jesons Industries plans IPO
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
21,281
23,900
Bank Nifty
48,000
50,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
HDFCLIFE
8.0
TRENT
-2.5
BEL
3.6
DRREDDY
-2.3
SBILIFE
2.9
HCLTECH
-2.0
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