Nifty Ends 162 points down on Weekly Expiry Day; ONGC, Shriram Finance Top Losers

The Indian equity markets closed in negative territory on Thursday, January 9, 2025, with the NSE Nifty 50 falling 162.45 points (0.69%) to settle at 23,526.50 during the weekly expiry session. Broader indices mirrored the downtrend, led by declines in Small-cap and Midcap stocks. Among sectoral indices, FMCG emerged as the sole gainer, while Realty, Energy, PSU Bank, and Metal indices led the losses.

Sectoral Performance

The Bank Nifty index fell by 331.55 points (0.67%) to close at 49,503.50. The Nifty Midcap 100 declined by 524.70 points (0.93%) to end at 55,745.90, while the Nifty Smallcap 100 dropped 247.30 points (1.35%) to settle at 18,118.35.

Among sectoral indices, the Nifty FMCG index was the only gainer, supported by positive moves in select heavyweight stocks. In contrast, the Realty and Energy indices emerged as the biggest laggards, followed by the PSU Bank and Metal indices.

Top Gainers on Nifty

Despite the broader market decline, select stocks provided some respite. Key gainers included:

• Bajaj Auto share price closed at ₹8,825, up 2.11% with a traded volume of 6,12,386 shares.
• Nestle India share price ended 1.76% to ₹22,259, with a volume of 11,47,115 shares.
• Hindustan Unilever (HUL) share price closed at ₹2,440, rising 1.62%, with 24,25,266 shares traded.
• Mahindra & Mahindra (M&M) share price Increased by 1.48% to ₹3,131.80, with 24,33,997 shares traded.

Top Losers on Nifty

On the losing side, the following stocks registered notable declines:

• ONGC share price fell 2.59% to ₹264.30, with a volume of 1,47,06,133 shares.
• Shriram Finance share price declined 2.41% to ₹2,828.95, with 10,81,623 shares traded.
• BPCL share price ended at ₹281.05, down 2%, with a volume of 62,15,885 shares.
• Coal India share price dropped 1.95% to ₹372.95, with a traded volume of 62,47,501 shares.

Why Are Markets Falling?

The Indian stock market extended its losses on Thursday, January 9, weighed down by weak GDP forecasts, unfavourable global cues, rising crude oil prices, and a weakening rupee.

According to the government’s first advance estimates, India’s economic growth is projected to slow sharply to 6.4% in FY25, marking a significant drop from 8.2% in FY24 and the slowest expansion in four years.

The revised forecast is also below the Reserve Bank of India’s (RBI) annual growth prediction of 6.6%, raising concerns across various sectors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their research and assessments to form an independent opinion about investment decisions.

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