Indian stock market ends lower, IT sector shines

Published 10-01-2025, 10:10 pm
© Reuters.  Indian stock market ends lower, IT sector shines
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Mumbai, Jan 10 (IANS) India's domestic benchmark indices closed lower on Friday as the IT sector closed in the green after a gain of 3.44 per cent.Sensex ended at 77,378.91, down by 241.30 points, or 0.31 per cent, and Nifty settled at 23,431.50, down by 95 points or 0.40 per cent.

Nifty Bank ended at 48,734.15, down by 769.35 points, or 1.55 per cent. The Nifty Midcap 100 index closed at 54,585.75 after dropping 1,160.15 points, or 2.08 per cent, while the Nifty Smallcap 100 index closed at 17,645.55 after declining 472.80 points, or 2.61 per cent.

According to market experts, domestic market sentiment remained subdued due to rising crude oil prices, driven by supply concerns and a strengthening dollar index.

"Despite the IT sector's resilience following positive early Q3 results, broader indices bled due to uncertainties surrounding US President-elect Donald Trump's policies and high valuations. Consolidation may persist in the near term, yet investors are closely watching the US non-farm payroll data today for further guidance," they added.

Buying was seen in the IT sector after strong Q3 results of Tata Consultancy Services (NS:TCS), which saw its stock jumping 5.60 per cent at Rs 4,265 apiece.

On the Bombay Stock Exchange (BSE), 829 shares ended in the green and 3,162 shares in the red, whereas there was no change in 87 shares.

In the Sensex pack, IndusInd Bank (NS:INBK), NTPC (NS:NTPC), UltraTech Cement (NS:ULTC), Sun Pharma (NS:SUN), Axis Bank (NS:AXBK), SBI (NS:SBI), PowerGrid, Tata Steel (NS:TISC), Kotak Mahindra Bank (NS:KTKM) and Titan (NS:TITN) were the top losers. TCS, Tech Mahindra (NS:TEML), HCL Tech (NS:HCLT), Infosys (NS:INFY), Bajaj Finserv (NS:BJFS), Bharti Airtel (NS:BRTI), Hindustan Unilever (NS:HLL), L&T and Bajaj Finance (NS:BJFN) were the top gainers.

Foreign institutional investors sold equities worth Rs 7,170.87 crore on January 9 and domestic institutional investors bought equities worth Rs 7,639.63 crore on the same day.

--IANS

skt/na/uk

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