Image Source : INDIA TV Stock market update for January 3.
Stock markets update: Equity benchmark indices declined in early trade on Friday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 181.04 points to 79,762.67. Meanwhile, the Nifty also declined 56.55 points to 24,132.10.
After the opening bell, the Indian stock market displayed a mixed trend, with more than half the stocks trading lower. Losses were led by TCS, which dropped 0.71%, followed by ITC, Infosys, Asian Paints, and Kotak Mahindra Bank. On the other hand, gains were spearheaded by HCLTech, up 1.04%, along with SBI, Adani Ports & SEZ, Maruti Suzuki India, and Mahindra & Mahindra.
Major gainers and laggards
On the Nifty50 index, 27 out of 50 stocks traded in the green. ONGC led the gainers with a rise of 3.14%, followed by SBI, HCLTech, IndusInd Bank, and SI Life. Meanwhile, the biggest losers included Hero MotoCorp, which fell by 2.07%, followed by TCS, Infosys, Wipro, and Cipla.
Across sectors, IT saw the steepest decline of 0.47%, followed by pressure on the Healthcare, Pharma, Private Bank, and FMCG indices. The frontline Financial Services indices remained subdued. Conversely, the Media index emerged as the top gainer, surging 1.68%, followed by the PSU Bank index, which climbed 1.31%. Other sectoral gainers included Oil & Gas, Realty, Consumer Durables, Metal, and Auto indices.
In the broader markets, the Nifty Midcap 100 rose 0.36%, while the Nifty Smallcap 100 advanced 0.55%, reflecting a relatively better performance compared to large-cap indices.
