Latest Stock Market News

Indian benchmark indices faced losses led by PSU banks and pharma stocks, while Power Grid and ICICI Bank gained. Wall Street reached record highs amid Trump’s comments on lowering rates. Adani Green Energy and HPCL surged following strong Q3 results. FII remained net sellers, crude oil fell below $78, and the rupee rose to 86.28 against the dollar.

On January 23, Dixon Technologies, Tube Investments, and Mahindra & Mahindra Financial Services formed a bullish "White Marubozu" pattern, signaling strong buying pressure with significant gains.

Trent, previously the top-performing Nifty stock, has experienced a significant decline in value due to moderating growth, a slowdown in consumption, and rising competition. Despite challenges, some brokerages remain optimistic about its long-term prospects, particularly for its Zudio brand.

UltraTech Cement shares rose 1% following strong Q3 results, with a 17% YoY profit decline but revenue exceeding estimates. Brokerages remain positive, with target prices ranging from Rs 12,100 to Rs 13,246. Analysts cite recovery in demand, cost efficiencies, and growth potential, making UltraTech a top pick in the cement sector.

Gold February futures rose to Rs 79,880 per 10 grams, while silver March futures increased to Rs 91,790/kg. Gold prices are on track for a fourth consecutive weekly gain due to US trade uncertainty and a weaker dollar, while silver prices have remained stable. Analysts expect volatility in both metals due to fluctuations in the dollar index and global bond markets.

JM Financial recommends buying Tata Technologies with a target of Rs 1150. Currently priced at Rs 813.3, the company shows promising financials and growth. For the quarter ending December 2024, Tata Technologies reported a total income of Rs 1345 crore and a net profit of Rs 168.14 crore, highlighting strong performance in the IT Software sector.

Shares of Cyient Ltd fell 18.58% after weak Q3 FY25 results and CEO resignation. The DET segment saw a drop in YoY profit, while revenue guidance for FY25 was revised downward. Leadership change and execution issues led to stock downgrades by JP Morgan and Emkay Global.

Rupee appreciated 18 paise to 86.26 against the US dollar in morning trade, supported by positive domestic equities and a soft American currency index. A weakening dollar and upcoming inflows from fundraising activities by IREDA are expected to further support the rupee, while foreign fund outflows continue to weigh on it.

Waaree Renewable Technologies shares surged 667% in 4 months but recently fell 68% due to a double-top pattern. Analysts advise avoiding the stock amid bearish momentum and suggest waiting for a rebound near support levels around Rs 740. Immediate support is at Rs 875, with resistance at Rs 1,118-1,190.