Market Live Updates: Equities Remain Cautious

Vikram Kasat, Head – Advisory, PL Capital – Prabhudas Lilladher: Indian equity benchmarks, the Sensex and Nifty, faced a sharp sell-off on Thursday, closing significantly lower as banking and financial stocks led the decline. The BSE Sensex dropped 513.72 points, or 0.65%, ending at 77,634.77, while the NSE Nifty fell by 164.75 points, or 0.69%, to settle at 23,524.20. The Nifty’s support level at 23,500 is now under close scrutiny, with investors wary of further downside. Globally, a strong US dollar, rising crude oil prices, and fears surrounding Federal Reserve policy weighed on sentiment. The rupee weakened further, touching a record low of 85.92 against the dollar. As investors prepare for the December quarter earnings season and monitor Union Budget expectations, markets remain cautious amidst challenging conditions.

Jan 10, 2025, 8:11 am IST

Stock Market Live Updates: Mutual Funds In December 2024

Sanjay Agarwal, Senior Director, CareEdge Ratings: The Mutual Fund Industry’s AuM witnessed a reduction to Rs.66.93 lakh crore in December 2024 by 1.7% m-o-m, snapping a rising streak which had begun in April. The reduction can be attributed to the expected outflows in debt mutual funds of Rs.1.27 lakh crore. Liquid funds and money market fund outflows at nearly Rs.0.92 lakh crore accounted for the bulk of the same. These are typical quarterly redemption patterns of liquidity management and various corporates requirements. Meanwhile, equity funds have continued to record inflows for 44th consecutive month with all categories witnessing inflows. Thematic funds witnessed an increase in inflows from previous month, which accounted for 37% of the equity monthly inflows reflecting investors’ confidence for thematic opportunities and their aggressive positioning. Additionally, 33 open-ended NFOs were floated in December 2024, which mobilised Rs.0.14 lakh crore with sectoral/thematic funds accounting at Rs.0.11 lakh crore or a share of 83%.

Jan 10, 2025, 8:11 am IST

Market Live Updates: TCS Stock In Focus

India’s largest IT company, Tata Consultancy Services (TCS) reported consolidated net profit of Rs 12,380 crore in the third quarter ending period December 31, 2024. The profit was attributable to owners of the company. The PAT was up by 11.95% YoY and 3.95% QoQ. Meanwhile, consolidated revenue from operations stood at Rs 63,973 crore in Q3FY25, higher from Rs 60,583 crore in Q3FY24, but marginally down from Rs 64,259 crore in Q2FY25.

Jan 10, 2025, 8:10 am IST

Market Live Updates: Tata Elxsi Share In Focus

Tata Elxsi, a 36-year-old Tata Group backed tech company, reported lower net profit to Rs 190 crore in Q3FY25, compared to Rs 206.43 crore in Q3FY24 and Rs 229.43 crore in Q2FY25. Meanwhile, top-line performance was mixed with revenue from operations coming at Rs 939.17 crore in Q3FY25, which was higher from revenue of Rs 914.23 crore in Q3FY24, but lower from Rs 955.08 crore in Q2FY25.