Indian stock market: 10 key things that changed for market overnight – Gift Nifty, Reliance Q3 results to Infosys ADR | Stock Market News

Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open lower on Friday tracking weakness in global markets.

Asian markets fell, while the US stock market ended lower amid selling in tech stocks.

On Thursday, the Indian stock market extended its winning streak for the third consecutive trading session tracking upbeat global cues.

The Sensex rose 318.74 points, or 0.42%, to close at 77,042.82, while the Nifty 50 settled 37.15 points, or 0.16%, higher at 23,213.20.

“While Nifty has seen a three-day recovery, it remains below its 200 DMA at 23,963, with key support at 23,000. Traders will be closely monitoring upcoming catalysts, including the FOMC meeting and Delhi Assembly elections,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded lower on Friday following overnight weakness on Wall Street and as investors await key economic data from China.

Japan’s Nikkei 225 fell 0.21%, while the Topix declined 0.48%. South Korea’s Kospi was flat and the Kosdaq dropped 0.11%. Hong Kong’s Hang Seng index futures indicated a weaker opening.

Gift Nifty Today

Gift Nifty was trading around 23,322 level, a discount of nearly 55 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Wall Street

US stock market ended lower on Thursday as investors eyed the most recent corporate earnings and gauged economic data.

The Dow Jones Industrial Average declined 68.42 points, or 0.16%, to 43,153.13, while the S&P 500 fell 12.57 points, or 0.21%, to 5,937.34. The Nasdaq Composite closed 172.94 points, or 0.89%, lower at 19,338.29.

Apple shares dropped 4.04%, while Nvidia stock price declined 1.92% and Tesla share price fell 3.36%. Morgan Stanley share price rallied 4.03% and Bank of America stock price fell 0.98%. UnitedHealth Group shares plunged 6.04%.

Reliance Q3 Results

Reliance Industries reported a consolidated net profit of ₹18,540 crore for the third quarter of FY25, registering a growth of 7.4% from ₹17,265 crore in the same period last year. The company’s consolidated revenue in Q3FY25 increased 6.7% YoY to ₹2.40 lakh crore from ₹2.25 lakh crore, year-on-year (YoY).

At the operational level, Reliance Industries‘ Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) during the the quarter ended December 2024 grew 8% to ₹43,789 crore from ₹40,656 crore, YoY. The company’s EBITDA margin improved by 20 basis points (bps) to 18.3% from 18.1% in the year-ago quarter led by higher refining margins and growth in digital services.

Infosys Q3 Results

Infosys reported 4.6% rise in its Q3FY25 net profit at ₹6,806 crore from ₹6,506 crore in the previous quarter. The IT major’s revenue grew 2% to ₹41,764 crore from ₹40,986 crore, QoQ. USD revenue was at $4,939 million, while in constant currency terms, revenue growth was 1.7% QoQ. EBIT increased 3% QoQ to ₹8,912 crore, while EBIT margin improved by 20 bps QoQ to 21.3%.

Infosys raised its CC revenue growth guidance for FY25 to 4.5% – 5% as against its previous guidance of 3.75% – 4.5%. It retained the operating margin guidance of 20% – 22% for FY25. 

Infosys ADR closed 5.77% lower at $21.57 on January 16, after the company reported its Q3 results, signalling that Infosys shares may open lower in the Indian stock market today.

US Fed Governor Christopher Waller

Inflation is likely to continue to ease and possibly allow the U.S. central bank to cut interest rates sooner and faster than expected, Federal Reserve Governor Christopher Waller said.

US Retail Sales

US Retail sales grew at a slower rate in December, according to government data. Retail sales grew 0.4% from November to December, reaching $729.2 billion, a slower pace than November’s 0.8% reading. From a year ago, retail sales were up 3.9% in December.

US Jobless Claims

The number of Americans filing new applications for unemployment benefits increased more than expected last week. Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 217,000 for the week ended January 11, the Labor Department said. Economists polled by Reuters had forecast 210,000 claims for the latest week.

Dollar

US dollar index, a measure of the value of the greenback relative to a basket of foreign currencies, was down 0.05% at 108.97. The dollar was down 0.81% against the yen at 155.2, its lowest since December 19.

Oil Prices

Crude oil prices traded higher and were headed for a fourth straight weekly gain. Brent crude oil rose 0.18% to $81.44 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.34% to $78.95.

(With inputs from Reuters)

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