Market Update - 16th January 2024

:chart_with_downwards_trend: Market Update - 16 Jan 2023 :chart_with_downwards_trend:

  • Sensex: 73,128.77 โ–ผ 0.27%
  • Nifty: 22,032.30 โ–ผ 0.29%

:bar_chart: Indian markets opened lower today, continuing a downward trend.

:chart_with_downwards_trend: Markets remained lower almost throughout the day.

:chart_with_upwards_trend: All broad market indices like Nifty 50, Nifty 100, etc closed in the red. Realty and IT sector stocks fell the most. Metal sector stocks rose the most.

:earth_asia: All other Asian markets (except China) closed in the red.

:earth_africa: All European markets were red too.

:us: The US markets were closed yesterday on the occasion of Martin Luther King Jr Day. Hence, there will be no Dow Jones and Nasdaq updates today.


:chart_with_upwards_trend: Economic Highlights - 16 Jan 2023 :chart_with_upwards_trend:

  1. :moneybag: Tax Tweak: Government trims windfall tax on crude oil, now Rs 1,700/tonne.

  2. :chart_with_downwards_trend: Job Front: Formal job creation dips 7.5% in Nov 2023; adds 15.9 lakh new employees.

  3. :globe_with_meridians: Export Surge: Engineering goods exports soar by 10.20% (YoY) to $10.04 billion in Dec 2023.


:bar_chart: Stocks in News - 16 Jan 2023 :bar_chart:

  1. :bank: Yes Bank: Makes history! First Indian bank on RXIL Global IFSC Ltdโ€™s International Trade Financing Services Platform for an export finance transaction.

  2. :red_car: Maruti Suzuki: Quick update! Announces an immediate price increase of around 0.45%.

  3. :motorway: PNC Infratech: Big sale! Sells 12 road assets worth Rs 9,005 cr to Highways Infrastructure Trust (HIT).

  4. :bullettrain_side: L&T: On the fast track! Bags order to build the electrical system for the Mumbai-Ahmedabad bullet train project.


:chart_with_upwards_trend: Top Gainers (Nifty 50) - 16 Jan 2023 :chart_with_upwards_trend:

  1. :oil_drum: BPCL : Rs 472.50 (โ–ฒ2.73%)
  2. :building_construction: Tata Steel : Rs 137.25 (โ–ฒ1.74%)
  3. :watch: Titan : Rs 3,818.90 (โ–ฒ1.60%)
  4. :smoking: ITC : Rs 475.00 (โ–ฒ1.58%)
  5. :red_car: Maruti Suzuki : Rs 10,195.85 (โ–ฒ1.08%)

:chart_with_downwards_trend: Top Losers (Nifty 50) - 16 Jan 2023 :chart_with_downwards_trend:

Company : Price (โ–ผ%)

  1. :pill: Diviโ€™s Labs : Rs 3,827.00 (โ–ผ2.11%)
  2. :computer: HCL Tech : Rs 1,555.00 (โ–ผ2.09%)
  3. :electric_plug: NTPC : Rs 311.55 (โ–ผ1.81%)
  4. :desktop_computer: Wipro : Rs 485.75 (โ–ผ1.79%)
  5. :briefcase: Infosys : Rs 1,626.00 (โ–ผ1.58%)

:date: Daily Change - 16 Jan 2023โ€‹:date:

  • :1st_place_medal: Gold: โ‚น62,358 (โ–ผ0.28%)
  • :spoon: Silver: โ‚น72,415 (โ–ผ0.27%)
  • :heavy_dollar_sign: USD-INR Rate: 82.97/USD (โ–ฒ0.08%)

Twitter link:https://x.com/MarketNewzDaily?t=R5pgUAOetOvTJU7n9FAI_Q&s=09




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