Bombay Stock Exchange (BSE) building in Mumbai.
| Photo Credit: Reuters
Equity benchmarks Sensex and Nifty surrendered early gains to close with losses in a volatile session on Friday (January 24, 2025), snapping their two-day winning streak as investors pared exposure to realty, oil & gas and healthcare stocks amid a mixed trend in global markets.
Unabated foreign fund outflows also dented investor sentiment.
The 30-share BSE benchmark dropped 329.92 points or 0.43% to settle at 76,190.46. During the day, it slumped 428.63 points or 0.56% to 76,091.75.
The NSE Nifty declined 113.15 points or 0.49% to 23,092.20.
From the 30-share blue-chip pack, Mahindra & Mahindra, Zomato, Tata Motors, IndusInd Bank, Reliance Industries, Larsen & Toubro, UltraTech Cement, HDFC Bank, Adani Ports and Bajaj Finserv were among the major laggards.
On the other hand, Hindustan Unilever, Tech Mahindra, Nestle, Bharti Airtel and ICICI Bank were among the gainers.
In Asian markets, Seoul, Shanghai, and Hong Kong settled in the positive territory while Tokyo ended lower. The Bank of Japan raised its key interest rate to about 0.5% from 0.25%.
Markets in Europe were trading in the green. U.S. markets ended higher on Thursday.
U.S. President Donald Trump, on Thursday, addressed the World Economic Forum, where he offered business leaders low taxes if they manufacture their products in the U.S. while threatening them with tariffs if they don’t.
Addressing the forum’s Annual Meeting here through video conferencing, Trump also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down, the Russia-Ukraine war will end immediately.
Throughout the world, food prices went through the roof, the president said, and he took immediate action to control inflation in America.
“I promise to eliminate 10 old regulations for every new regulation… I am going to pass the largest tax cuts in American history to help our people,” he noted.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,462.52 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude climbed 0.27% to $78.50 a barrel.
In the previous session, Sensex rose 115.39 points or 0.15% to settle at 76,520.38. The Nifty went up by 50 points or 0.22% to end at 23,205.35.
Published – January 24, 2025 04:21 pm IST
