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The Indian rupee weakened along with most of its regional peers on Tuesday as comments about trade tariffs from U.S. President Donald Trump boosted the dollar a day after a selloff in U.S. technology stocks had hurt the greenback.

Indian benchmarks closed strong with Sensex up 535 points, driven by banking stocks. Key gainers included J&K Bank, TVS Motor, and Balkrishna Industries. AI stocks and Apar Industries saw notable declines.

Drug major Cipla reported a 49% year-on-year jump in its December quarter consolidated net profit, reaching Rs 1,571 crore, compared to Rs 1,056 crore in the same period last year. The profit after tax (PAT) exceeded the ET Now poll estimate of Rs 1,302 crore.

European shares rise as global tech selloff eases

Updated at : 2025-01-28 15:20:02

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European shares edged up on Tuesday with gains for utilities and media stocks supporting the index, as selling pressures eased a day after a global market rout sparked by the Chinese AI startup DeepSeek.

​It is a headwind from the macro. Secondly, competitive intensity, in the case of paints, is very high, which is also getting reflected in the last one quarter of, let us say, Asian Paints’ gross margin compression, that was a negative surprise.

Nifty Smallcap 250: The Nifty 50 and BSE Sensex gained 0.78% and 0.98%, respectively, by Tuesday afternoon, driven by optimism around the RBI’s liquidity-boosting measures. However, midcap and smallcap indices remained under selling pressure, reflecting broader market challenges despite the resilience shown by the benchmark indices.

Hyundai Motor Q3 Results: ​​The Q3FY25 revenue from operations for the Korean carmaker was Rs 16,648 crore, marking a 1.3% decrease from Rs 16,875 crore in the corresponding quarter of the previous financial year.

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Global technology shares recovered some poise on Tuesday, but remained vulnerable after a rout sparked by the emergence of a low-cost Chinese artificial intelligence model made investors question the sky-high valuation and dominance of AI bellwethers.

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Shares of ITC Hotels, the demerged hospitality unit of ITC Ltd, will list on January 29. Shareholders receive one ITC Hotels share for every 10 ITC shares held. Analysts expect the hotel business to perform well due to strong fundamentals, an asset-light model, and a robust expansion plan.

Maruti Suzuki Q3 revenue is expected to rise 17% YoY, with PAT growing 13% YoY, according to six brokerages. Maruti defied weak passenger vehicle demand, posting 13% YoY volume growth in Q3. Domestic sales increased 6% YoY, exports surged 38% YoY, and December 2024 marked a record 250,000 units sold, up 8% YoY.

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