The domestic market also started growing with strong quarterly results and a surge in global markets. The market is currently trading flat. The BSE Sensex is trading at 48,700 and the Nifty at 14,300. Banking stocks are the biggest gainers in the sluggish market. The bank index has a gain of 1%.
TCS became the country’s largest company
Reliance Industries stock is trading down 4.52% in BSE Sensex. The company’s market cap has also come down to Rs12.41 lakh crore. In comparison, TCS has a higher market cap. According to the BSE, it has become 12.44 lakh crore rupees. That is, TCS has become the largest company in the country in terms of market cap.
At 11:53 am, the Sensex is trading down 129.72 points at 48,748.82. The BSE is traded in 2,844 shares. Trading with 889 gains and 1,796 declines. The total market cap of the companies listed on the exchange has gone up to Rs193.26 lakh crore.
Nifty slipped below 14,300
Similarly, the NSE Nifty index is also down by 25.55 points at 14,346.35. In this, RIL stock is trading down 4.48%. Similarly, ONGC, Tata Motors, Eicher Motor, and Asian Paints are also trading down by more than 2-2%. On the other hand, Grasim’s stock is trading up 6.98%. Similarly, shares of UPL, Cipla, and Axis Bank also gained 3-3%.
Stove Craft IPO
From today, kitchen appliances company Stove Craft’s IPO will open. Its issue price has been fixed at Rs384-385. Under this, 95 crore new shares will be issued. For this, the issue price of the stock has been fixed at Rs384-385. A lot is of 38 shares. Retail investors will be able to apply for a maximum of 13 lots. This IPO will close on January 28, Thursday.
Results from other companies including Larsen and Toubro
On Monday, Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Naveen Fluorine International, RPG Life Sciences, Sharda Krophem, and UCO Bank Also 41 companies will release the December quarter results today.
Huge fluctuations in global markets
Investors in Asian markets are worried about the growing case of Corona and concerns over delays in vaccine supplies. That’s why most of the indices in early trade were trading with a decline, which is currently in the lead. On January 25, Japan’s Nikkei index traded 0.42%, Hong Kong’s Hang Seng index 1.62%, and China’s Shanghai Composite index was up 0.49%. Similarly, the Kospi index of Korea is 1.69% and the Australian stock market is up. On Friday, major market indices closed in the red mark due to selling in big tech companies like IBM and Intel in US markets.
Heavy foreign investment continues in the market
According to the exchange data, on January 22, foreign institutional investors (FIIs) raised Rs635.69 crore. And domestic institutional investors (DIIs) raised Rs1,290 crore. Shares were sold. FII bought shares worth Rs24,469 crore during January 1-22.