Image Source : INDIA TV Stock market update for January 22.
Stock market update: Equity benchmark indices surged in early trade on Wednesday amid strong trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex rose 326.86 points to 76,212.83. Meanwhile, the Nifty was also up by 87.60 points to 23,111.25.
Major gainers and laggards
Among the top performers on the BSE were Infosys, Sun Pharma, and Larsen & Toubro (L&T), while Zomato, Tata Motors, and Power Grid led the list of laggards. Similarly, on the NSE, Sun Pharma, Britannia, and Infosys emerged as the top gainers, whereas Trent, BEL, and Power Grid were the major losers.
Despite the gains in benchmark indices, broader markets faced challenges. The Nifty SmallCap index fell by 0.7%, and the Nifty MidCap index was trading 0.6% lower. Sectoral indices showed mixed trends, with Nifty Realty and Consumer Durables being the worst performers, shedding up to 1.5%.
Investors are keeping a close watch on the December quarter (Q3FY25) results, with market heavyweights like HDFC Bank, Hindustan Unilever, and Bharat Petroleum Corporation Limited (BPCL) set to announce their earnings today. The performance of these companies is expected to influence market sentiment further as the day progresses.
Initial Public Offerings
India’s managed flexible workspace sector is gearing up for a landmark year, with five major Initial Public Offerings (IPOs) poised to raise over Rs 7,000 crore. The sector, fueled by the growing adoption of hybrid work models, has experienced remarkable growth, making it a focal point for corporate strategies and investor interest alike.
As businesses transition to flexible office solutions, the demand for managed workspaces has surged. This trend shows a broader shift in workplace dynamics, driven by the need for cost-efficient, adaptable, and employee-centric office setups. The upcoming IPOs are set to capitalise on this momentum, offering key investors a lucrative exit opportunity while attracting fresh capital to fuel expansion.
