Nifty, Sensex Slump Further – Monday Market Report
Moneylife Digital Team 13 January 2025
Indian equity markets experienced continued to suffer sharp decline on Monday, triggered by robust US employment data that has dampened expectations for Federal Reserve rate cuts. The US unemployment rate's decline to 4.1% in December and continued job growth have reduced the likelihood of monetary easing, creating tighter global liquidity conditions. On Monday, 555 stocks advanced, 3562 declined and 131 remained unchanged. Around 1,298 stocks were down more than 3%. 
 
Foreign Portfolio Investors (FPIs) have intensified their exit from Indian markets, offloading stocks worth Rs21,350 crore in January 2025, following December 2024 outflows of Rs16,982 crore. This exodus is attributed to concerns over high valuations, underwhelming corporate earnings, and rising US bond yields.
 
Adding to market pressures, crude oil prices have hit a 15-week high following new US sanctions on Russia. As a major oil importer, India faces increased fiscal and inflationary challenges from rising energy costs. The Indian rupee has also reached a historic low of Rs 86.27 against the US dollar, potentially accelerating capital outflows and increasing import expenses.
 
On the domestic front, India's retail inflation showed some improvement, with the Consumer Price Index (CPI) registering 5.22% in December, down from November's 5.48%. The inflation rate remains within the RBI's tolerance band of 2-6%, with rural areas experiencing higher inflation at 5.76% compared to urban areas at 4.58%.
 
Asian markets have also weakened, reflecting global concerns, with the MSCI regional index facing its fourth straight day of decline. The combination of domestic challenges and global headwinds has created a particularly challenging environment for Indian equities. The trend of the major indices on Monday’s trading is given in the table below. 
 
 
On NSE, 22 securities advanced and closed at a new 52-week high whereas 429 securities sank to close at their new 52-week lows.  In sectoral indices, all indices ended in red with Nifty Media, Nifty Metal and Nifty Energy were among the biggest losers.
 
Zen Technologies (-7.80%) received approval for investment in Zen Technologies USA, Inc, a wholly owned subsidiary of the company, upto $10 million, in one or more tranches. The objective of investment is to leverage new growth opportunities in the US markets.
 
G R Infraprojects (-3.40%) emerged as L-1 bidder for a project ‘Construction of Access Controlled Pune Ring Road (East) in the State of Maharashtra on EPC Mode Package PRR E6 from Km. 81+900 Sonori to Km. 97+900 Garade, Taluka Purandar, District Pune (Length-16.000 Km)'. The project cost is Rs1947.00 crore.
 
Mangalore Refinery and Petrochemicals (MRPL) (-4.73%) launched new product ‘Toluene’. With an annual production capacity of 40 TMT, MRPL's Toluene facility exemplifies India's progress toward self-reliance and global competitiveness in the petrochemical sector
Signature global (India) executed a sale deed for acquiring a Land Parcel admeasuring approximately 16.12 acres situated at Sector 71, Southern Peripheral Road, Gurugram, Haryana. The said land has an overall potential developable area of approximately 2.73 million square feet.
 
Sealmatic India (+0.14%) successfully developed & supplied critical mechanical seals for defence application.
 
Power Grid Corporation of India (-4.04%) acquired Kudankulam ISTS transmission (KISTSTL), the project SPV to establish transmission system under ISTS for evacuation of power from Kudankulam Unit - 3 and 4 (2x1000 MW)’, on build, own, operate and transfer (BOOT) basis from the bid process coordinator - PFC consulting (PFCCL).
 
Waaree Energies (-3.03%) entered into a share purchase agreement with Enel Green Power Development S.r.l (Seller) for acquisition of 100% of the share capital of Enel Green Power India for a total amount of upto Rs792 crore.
 
Interarch Building Products (-0.56%) secured orders worth Rs221 crore.
 
Godrej Properties (GPL) (-5.84%) launched Godrej Madison Avenue its first premium residential project in Kokapet, Hyderabad, underlining its commitment to expanding its footprint in Hyderabad’s high-growth residential real estate market. Situated on around 3 acres of land with an estimated booking value of Rs1,300 crore, Godrej Madison Avenue will feature around 1.2 million square feet of saleable area, offering premium residential apartments in 3 & 4 BHK configurations.
 
Earnings
PCBL Chemical (-10.11%) reported 37.08% fall in net profit at Rs93.11 crore for Q3FY25 as compared to Rs147.98 crore for the same quarter in the previous year. However, total income of the company increased by 21.46% at Rs2021.09 crore for Q3FY25 as compared to Rs1663.93 crore for the corresponding quarter previous year.
 
Avenue Supermarts (-4.85%) reported 4.80% rise in net profit at Rs723.54 crore for Q3FY25 as compared to Rs690.41 crore for the same quarter in the previous year. Total income of the company increased by 17.58% at Rs15,996.69 crore for Q3FY25 as compared to Rs13,605.39 crore for the corresponding quarter previous year.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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