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What happened in the Indian stock market today (23rd Jan 2025)?

The Indian stock market saw a steady session on 23rd January 2025, with Sensex and Nifty posting modest gains as investors focused on auto, IT, and cement stocks.

What happened in the Indian stock market today (23rd Jan 2025)?

The benchmark indices had a volatile session but closed in the green. The BSE Sensex fell to an early low of 76,202 before rebounding and touching a high of 76,743, a 543-point swing. It eventually settled at 76,520, gaining 115 points.

Similarly, the NSE Nifty 50 hit a low of 23,091 but managed to recover and touch 23,271, before ending the day 50 points higher at 23,205.

Overall, the market breadth remained positive, with 2,100 stocks advancing versus 1,800 declining on the BSE.

Impact on the stock market

Sector-wise performance

Gainers of the day

  • Auto, IT, healthcare, and consumer durables sectors gained between 1% to 2%, leading the recovery.
  • MidCap and SmallCap stocks also rallied, with the BSE MidCap index up 1.8% and BSE SmallCap index gaining 0.7%.
  • MidCap IT stocks like CoForge and Persistent Systems were the standout performers, surging over 10% each.

Lagging sectors

  • Banking indices remained subdued, underperforming the broader market.
  • HCL Technologies, Power Grid Corporation, Kotak Mahindra Bank, Reliance Industries, and SBI lost over 1% each, weighing on the indices.

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Sector/IndexPerformance
IT & BPM sector1.79%
Healthcare sector1.28%
Oil & Gas sector-0.51%
Real estate sector1.00%
PSU Bank in India-0.10%

Top gainers today

CompanyPriceChange %
UltraTechCement Share Price11,420.906.80
Grasim Share Price2,461.153.06
Wipro Share Price317.702.78
Shriram Finance Share Price529.802.15
Eicher Motors Share Price5,116.202.13

Top losers today

CompanyPriceChange %
BPCL Share Price271.25-2.29
Kotak Mahindra Share Price1,894.85-1.18
HCL Tech Share Price1,807.00-1.13
Power Grid Corp Share Price294.35-1.08
Reliance Share Price1,263.65-1.05

Market aftermath: Impact on stocks

UltraTech Cement gains 7% despite profit decline

UltraTech Cement reported a 17% YoY decline in net profit to ₹1,470 crore, but the results exceeded analyst expectations, boosting investor confidence.

MetricQ3 FY25Q3 FY24YoY Change
Net profit₹1,470 crore₹1,773 croreDown 17%
Revenue₹17,193 crore₹16,696 croreUp 3%
EBITDA₹3,131 crore₹3,400 croreDown 8%

Despite a decline in EBITDA margins, volume growth and cost efficiencies helped push UltraTech’s stock up 7% to ₹11,400.

Adani Energy Solutions jumps on 73% profit growth

Adani Energy Solutions delivered a stellar Q3 FY25, reporting a 73% YoY increase in net profit to ₹562 crore, driven by higher revenues and strong operational performance.

MetricQ3 FY25Q3 FY24YoY Change
Net profit₹562 crore₹324.9 croreUp 73%
Revenue₹6,000.39 crore₹4,824.42 croreUp 28%
EBITDA₹2,215.7 crore₹1,527.2 croreUp 39.2%

EBITDA margins improved to 36.5%, reflecting strong profitability growth and continued expansion in transmission and distribution networks.
Also read: Adani Green Energy Stock Struggles Amid Market Volatility

KEI Industries soars 11% on growth optimism

KEI Industries saw an 11% surge in its stock price, as Q3 numbers and management guidance boosted investor sentiment.

MetricQ3 FY25Q3 FY24YoY Change
Net profit₹164.8 crore₹150.6 croreUp 9.4%
Revenue₹2,467.2 crore₹2,059.3 croreUp 20%

Even though operating margins contracted slightly to 9.8%, the company’s strong growth outlook and planned capacity expansion helped drive the rally.

Crude oil prices drop as US inventories rise

Crude oil prices saw a decline after US inventory data showed a 1-million-barrel increase, ending a five-week decline streak.

Crude Oil ContractPrice (₹/Barrel)Change
Brent March Futures$78.74Down 0.33%
WTI March Futures$75.22Down 0.29%
MCX February Futures₹6,513Down 0.73%
  • US crude oil production remains strong, keeping supply levels high.
  • Donald Trump’s trade policies and tariff threats could impact global demand and pricing.

Conclusion: What’s next for the Indian stock market?

The stock market ended on a positive note, led by auto, IT, and cement stocks, while banking remained subdued.

  • Sensex closed at 76,520 (+115 points), while Nifty ended at 23,205 (+50 points).
  • UltraTech Cement, Coforge, and Persistent Systems led the gains, while Kotak Bank and SBI declined.
  • Adani Energy and KEI Industries posted strong profit growth, supporting the rally.
  • Crude oil prices dipped, driven by a build-up in US inventories.

With more corporate earnings coming in, global market cues, and government policy announcements, the market is set for more action in the coming days.

Will this rally continue, or are we in for some volatility ahead? Share your views!

What’s your take on today’s market movement? Share your thoughts in the comments!

For more stock market insights, check out the StockGro blog.

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