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The local currency peaked to 86.282/$1 during the day after US president Donald Trump refrained from imposing tariffs on his first day in office. The rupee, however, gave up its gains after Trump said he was thinking about imposing tariffs on Canada and Mexico.

Dixon shares plunged 13.9%, Kaynes Technology tumbled 9.7%, Amber Enterprises slumped 7.6%, Syrma SGS Technology declined 4.7% and PG Electroplast fell 6% on Tuesday.

Zomato has attributed the weaker numbers to the increased investments in accelerated new dark-store openings and customer acquisition efforts in the quick commerce (QC) business. Swiggy has not reported its October-December results yet.

Over the years, it has developed an extensive product range catering to both residential and commercial applications which are predominantly sold under its flagship brands "Euro Pratik" and "Gloirio".

Government bonds will be included in the Bloomberg Emerging Market (EM) Local Currency Government Index on January 31, which Nick Gendron, global head of fixed income index at Bloomberg Index Services described "as a great first step".

Shares of HDFC Bank, HUL and Tata Communication will be in focus as the companies will announce their quarterly results later today.

Market analysts predict continued pressure on the markets in the short term. India VIX rose 3.9%, while several stocks are now under the F&O ban and the rupee settled lower against the US dollar.

Essar Oil and Gas Exploration & Production Ltd. is exploring its first post-restructuring fundraising initiative by considering a $275 million overseas bond issuance to fund expansion and refinance existing debt. Talks remain preliminary and non-binding.

Tata Tech Q3 Results: Q3FY25 revenue from operations rose 2% to Rs 1,317 crore, compared to Rs 1,289 crore in the same quarter last year. On a sequential basis, the profit after tax (PAT) grew 7% as against Rs 157 crore posted in Q2FY25. Meanwhile, the topline increased 1.6% versus 1,296 crore in the July-September quarter.