AGR Clarification Hits Vodafone; Apollo Jumps; Swiggy Falls on Zomato Q3
Written by - Fisdom Research
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January 21, 2025
2 minutes
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Market Snapshot
The Sensex closed below 76,000 for the first time in seven months, while the Nifty ended near 23,000, pressured by weak earnings and uncertainty over potential U.S. trade policies.
Sectoral indices saw broad declines, with Nifty Realty and Consumer Durables leading losses, both down over 4%. Nifty PSU Bank and Auto fell 1.7% and 1.6%, respectively, while Nifty Bankex and Private Bank declined 1.5% each. Nifty Pharma and Metal also closed lower, losing 1.3% and 1.1%, respectively.
With the earnings season underway, markets remain cautious, awaiting signs of corporate recovery.
So far, only 10 out of 51 Nifty constituents have reported earnings, with just three—Reliance Industries among them—exceeding estimates. Four companies met expectations, while weak results from new-age tech firms like Zomato and Paytm weighed on sentiment.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FMCG
-0.2
NIFTY IT
-1.2
NIFTY HEALTHCARE INDEX
-0.7
NIFTY PHARMA
-1.4
NIFTY METAL
-0.9
NIFTY MEDIA
-1.5
NIFTY OIL & GAS
-1.1
NIFTY PRIVATE BANK
-1.5
Top News
Vodafone Idea fell ~5% after clarifying reports about a potential ₹1 lakh crore AGR dues waiver, which suggested relief on penalties and interest for telecom firms.
Apollo Hospitals gained 3.5% after Kotak Institutional Equities upgraded its rating to ‘buy,’ citing lower execution risks in its expansion plans.
Swiggy dropped 10% to ₹431 following weaker-than-expected Q3 results from rival Zomato, weighing on sentiment in the food-delivery sector.
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
22,800
23,500
Bank Nifty
48,000
50,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
APOLLOHOSP
2.1
TRENT
-6.0
TATACONSUM
1.2
NTPC
-3.4
BPCL
1.1
ADANIPORTS
-3.3
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