As per provisional closing, the S&P BSE Sensex was up 169.62 points or 0.22% to 76,499.63. The Nifty 50 index rose 90.10 points or 0.39% to 23,176.05. In four consecutive trading sessions, the Sensex and Nifty dropped by 2.39% and 2.62%, respectively.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rallied 2.13% and the S&P BSE Small-Cap index gained 1.69%.

The market breadth was strong. On the BSE, 2,872 shares rose and 1,094 shares fell. A total of 107 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.29% to 15.47.

Indian Rupee hit a fresh record low against the US dollar on Tuesday. The currency opened at 86.5700 and touched a fresh all-time low of 86.7000 and is currently trading at 86.6200.

Economy:

The annual inflation rate based on the All India Wholesale Price Index (WPI) stood at 2.37% in December 2024, compared to December 2023. The increase in inflation was primarily driven by higher prices of food articles, manufactured food products, textiles, and non-food articles. On a month-to-month basis, the WPI saw a decrease of 0.38% in December 2024 compared to November 2024.

The Primary Articles index declined by 2.07%, reaching 193.8 in December 2024, down from 197.9 in November. Meanwhile, the Fuel & Power index rose by 1.90% to 149.9, up from 147.1 in the previous month. The Manufactured Products index remained unchanged at 143.0, the same as in November.

The WPI Food Index, which includes 'food articles' from the primary articles group and 'food products' from the manufactured products group, decreased from 200.3 in November 2024 to 195.9 in December 2024. The annual inflation rate based on the WPI Food Index slightly decreased from 8.92% in November to 8.89% in December.

New Listing:

Shares of Quadrant Future Tek settled at Rs 448.75 on the BSE, representing a premium of 54.74% as compared with the issue price of Rs 290.

The scrip was listed at Rs 374, exhibiting a premium of 28.97% to the issue price.

The stock has hit a high of 448.75 and a low of 367. On the BSE, over 15.38 lakh shares of the company were traded in the counter.

IPO Update:

The initial public offer of Laxmi Dental received bids for 11,97,48,585 shares as against 89,70,371 shares on offer, according to stock exchange data at 15:15 IST on 14 January 2025. The issue was subscribed 13.35 times.

The issue opened for bidding on 13 January 2025, and it will close on 15 January 2025. The price band of the IPO is fixed between Rs 407 and Rs 428 per share. An investor can bid for a minimum of 33 equity shares and in multiples thereof.

Buzzing Index:

The Nifty PSU Bank index added 4.20% to 6,144.75. The index slipped 4.57% in past four consecutive trading sessions.

Central Bank of India (up 19.99%), Indian Overseas Bank (up 19.14%), UCO Bank (up 18.8%), Punjab & Sind Bank (up 15.31%), Bank of Maharashtra (up 12.9%), Indian Bank (up 6.98%), Canara Bank (up 5.56%), Bank of India (up 5.05%), Punjab National Bank (up 3.59%) and Union Bank of India (up 3.4%) added.

Stocks in Spotlight:

HCL Technologies tanked 8.52%. The company's consolidated net profit jumped 8.41% to Rs 4,591 crore on 3.56% increase in net sales to Rs 29,890 crore in Q3 FY25 over Q2 FY25.

Meanwhile, the board has declared an interim dividend of Rs 18 per equity share for FY25. This includes a special dividend of Rs 6 per share. The record date for the payment of the aforesaid interim dividend shall be January 17, 2025, and the payment date of the said interim dividend shall be January 24, 2025.

Angel One fell 3.13%. The company reported 8.1% increase in consolidated net profit to Rs 281.47 crore on 19.1% jump in total income to Rs 1,263.80 crore in Q3 FY25 over Q3 FY24.

Meanwhile, the company's board declared first interim dividend for FY25 of Rs 11 per share and the record date is fixed as Tuesday, 21 January 2025. The dividend will be paid on or before 12 February 2025.

Further, the company's board has appointed Ambarish Kenghe as the group chief executive officer and key managerial personnel, effective on or before 6 March 2025.

Lotus Chocolate Company was locked in lower circuit of 5% after the company's standalone net profit dropped 29% to Rs 3.72 crore in Q3 FY25 as against Rs 5.24 crore posted in Q2 FY25. However, revenue from operations rose 14.34% quarter on quarter (QoQ) to Rs 146.69 crore in the quarter ended 31 December 2024.

HDFC Asset Management Company added 1.79% after the company's standalone net profit increased 30.99% to Rs 641.46 crore on 26.22% rise in total income to Rs 1,027.10 crore in Q3 FY25 over Q3 FY24.

Indobell Insulations hit an upper circuit of 5% after the company has secured an order for supply and application of hot lagging worth Rs 11.01 crore from Cochin Shipyard.

JSW Energy jumped 6.50% after the company said it has received letter of intent (LoI) for its resolution plan for KSK Mahanadi Power Company (KMPCL) under the Insolvency and Bankruptcy Code, 2016.

Bajel Projects rallied 4.03% after the company announced that it has received an EPC contract from Adani Energy Solutions (AESL) for constructing transmission line in Tiroda, Maharashtra.

Vijaya Diagnostic Centre slipped 3.46% after the company informed that Narasimha Raju KA, chief financial officer (CFO) of the company has resigned from his services effective on or before 31 March 2025.

Global Markets:

U.S. stock futures signal a positive open on Tuesday, with Dow Jones Industrial Average futures trading 151 points higher. Concerns over the potential impact of disruptive trade tariffs under the incoming Trump administration have eased slightly, following reports that his team is considering a gradual increase in import duties.

European shares advanced, reversing negative sentiment in the region, but investors will be keeping a close eye on borrowing costs for a number of core European economies this week as bond yields remain elevated.

Markets in Asian ended mixed as investor sentiment dampened by ongoing concerns about the tight monetary conditions in the United States.

U.S. indices partially recovered from their initial losses on Monday, resulting in a mixed close. The S&P 500 saw a modest 0.16% gain, while the Dow Jones Industrial Average rebounded from a two-month low with a robust 0.86% increase. The NASDAQ Composite lagged behind, experiencing a 0.38% decline.

This week, investor attention will be firmly focused on the release of December's Consumer Price Index (CPI) inflation data on Wednesday. Additionally, the earnings season is set to commence in earnest on Wednesday, with several major Wall Street banks scheduled to report their financial results.

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