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Paytm’s UPI Market Share Declines, Kalyan Jewellers Faces Profit Booking, Tata Steel Hits Record Production
Paytm’s UPI Market Share Declines, Kalyan Jewellers Faces Profit Booking, Tata Steel Hits Record Production
Written by - Fisdom Research
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January 8, 2025
2 minutes
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Market Snapshot
Indian benchmark indices rebounded sharply in the second half, erasing most intraday losses and ending nearly flat.
Despite weak global cues, indices opened higher but failed to sustain gains, trading lower for most of the session.
Last-hour buying in heavyweight stocks, IT, oil & gas, and FMCG helped recover intraday losses.
FMCG, oil & gas, and IT gained 0.3-1.5%. PSU banks, pharma, metal, media, banking, and auto sectors declined by 0.4-1%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY OIL & GAS
1.5
NIFTY AUTO
-0.5
NIFTY IT
0.6
NIFTY PRIVATE BANK
-0.5
NIFTY FMCG
0.4
NIFTY METAL
-0.7
NIFTY REALTY
-0.2
NIFTY BANK
-0.7
Top News
Paytm’s parent company One97 Communications saw a 7.5% decline in its share price after a UBS report highlighted no gain in UPI market share for December, with its share nearly halving from 10% to 5.5% during 2024.
Kalyan Jewellers extended its losing streak for the fourth session, falling by 15.5% overall, driven by sharp profit booking after reaching a record high on January 2, with trading volumes significantly exceeding the daily average.
Tata Steel reported its highest-ever nine-month steel production volume at 16.2 million tonnes, a 5% YoY increase, driven by increased domestic sales, strategic exports, and new capacity from its Kalinganagar blast furnace.
BPCL board OK’s Rs. 1000 crore Maharashtra Natural Gas IPO
Capital Infra Trust InvIT IPO gets 39% subscription on Day 1
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,400
24,000
Bank Nifty
49,500
51,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
ONGC
3.0
APOLLOHOSP
-4.1
ITC
1.9
TRENT
-2.8
ASIANPAINT
1.9
ULTRACEMCO
-2.1
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