ONGC, Avenue Supermarts, and Afcons Surge; India Tops in Asia in IPOs
Written by - Fisdom Research
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January 3, 2025
2 minutes
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Market Snapshot
After starting the new year with strong gains in the first two sessions, the bears took control of Dalal Street on January 3, pulling the Nifty close to the critical 24,000 mark amid selling pressure in IT, pharma, and banking stocks. However, buying interest in media and oil & gas stocks helped limit the overall losses.
Banking, capital goods, IT, and pharma sectors each declined by 1%, whereas oil & gas and media sectors posted a 1% gain.
This Week the BSE Sensex gained 0.66%, while the Nifty 50 rose 0.8%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY MEDIA
1.7
NIFTY FINANCIAL SERVICES EX-BANK
0.3
NIFTY OIL & GAS
1.3
NIFTY FMCG
0.3
NIFTY CONSUMER DURABLES
0.7
NIFTY METAL
0.1
NIFTY PSU BANK
0.3
NIFTY AUTO
-0.1
Top News
ONGC shares jumped 5.11% in early trade, driven by a four-day crude oil rally and a breakout from a prolonged trading range. Jefferies reaffirmed its buy call, citing a 58% upside, with optimism also fueled by the expected production boost from the KG basin.
Avenue Supermarts shares soared 15% on January 3 after the DMart operator released its Q3 FY2024-25 business update.
Afcons Infra shares surged 7% intraday on Friday following the announcement of a major order worth over Rs 1000 crore from the Defence Research and Development Organisation (DRDO).
India’s NSE leads China with most number of IPOs in Asia, beats US in capital raised
IPO mop up could top Rs. 2 trillion in 2025
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,850
24,250
Bank Nifty
50,500
52,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
ONGC
5.1
WIPRO
-2.8
TATAMOTORS
3.1
HDFCBANK
-2.5
SBILIFE
2.0
ADANIPORTS
-2.3
Trade Ideas Update
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