Weekly Market Recap Jan 24: Nifty, Sensex Settled in Red; Trump’s AI Push, IPO Listings, and Q3 Earnings

The week ended January 24, 2025, saw the Indian securities market on a roller coaster ride. The benchmark indices NSE Nifty 50 and BSE Sensex started the week with 23,290.40 and 77,073.44 on January 20, 2025, respectively. On Tuesday, the benchmark index BSE dropped significantly to 75,838.36. At the close of the week, the Indian securities market dropped 0.49% in Nifty to close at 23,092.20 and a 0.43% fall in Sensex which settled at 76,190.46 on January 24, 2025.

This heightened volatility in the market was caused by several factors, which include the return of Donald Trump as US President, cautious sentiment amid Q3FY25 earnings season and more. On Friday, as of 3:40 PM, the Rupee rose 22 paise to close at 86.22 against the US dollar.

Review of Major Updates This Week

• The IT sector witnessed a surge, driven by strong Q3FY25 results from companies like Zensar Technologies, Wipro, etc. Nifty IT opened this week at 42,377.35 and closed today at 43,524.10.
• Positive developments in global markets, including a rally in the US stock market and a surge in AI stocks following President Trump’s announcement of a major AI project, provided a supportive backdrop for the Indian market.
• Crude oil prices experienced fluctuations, influenced by President Trump’s proposed tariffs and their potential impact on global economic growth and energy demand.

New Debutant on D-Street

On Jan 20, 2025, Laxmi Dental shares were listed on the NSE and BSE. On NSE it debuted with an open price of 542.00, which is above the issue price of 428.00. Stallion India Fluorochemicals debuted on BSE and NSE. On NSE it opened at ₹120, up from its ₹90 issue price on January 23, 2025.

Major Q3FY25 Earnings This Week

• Tech Mahindra‘s Q3 FY25 PAT increased 92.6% YoY to ₹983 crore. Revenue stood at ₹13,286 crore, down 0.2% QoQ. EBITDA grew 57.8% YoY to ₹1,809 crore. Read more here.
• In Q3 FY25, Wipro’s net profit rose 24.48% YoY to ₹3,353.8 crore. The company reports strong margins, and large deals, and declared a ₹6 interim dividend. Read more here.
• Zomato’s Q3 FY25 EBITDA grew 128% YoY, driven by improved food delivery margins, though its quick commerce expansion led to higher losses. The company added 368 new stores, reaching 1,007 total stores. Read more here.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.