Explorer

Stock Market Today: Sensex Rises Over 250 Points, Nifty Over 23,000

Stock Market Today: ITC Ltd's hotel arm, ITC Hotels, is set to list on the bourses today. ITC decided to demerge its hotel business into a separate listed entity to unlock shareholder value

India's benchmark indices opened higher on January 29, driven by anticipation of the US Federal Reserve's rate decision later today and the upcoming Union Budget this weekend. IT and banking stocks led the gains on the Nifty 50. At 10:00 am, the Sensex rose by 268.91 points, or 0.35 per cent, to reach 76,170.32, while the Nifty gained 89.60 points, or 0.39 per cent, to stand at 23,046.85. Of the total shares traded, 2,521 advanced, 589 declined, and 121 remained unchanged.

Despite recent rebounds, the Nifty 50 and BSE Sensex remain nearly 12 per cent below their record highs. The indices are on track to experience their worst monthly losing streak in 23 years, impacted by weak corporate earnings, ongoing FII outflows, and broader economic uncertainty.

Broader Market

In the broader market, the BSE Midcap and Smallcap indices outperformed the benchmarks, each rising by 0.7 per cent.

ITC Ltd's hotel arm, ITC Hotels, is set to list on the bourses today. ITC decided to demerge its hotel business into a separate listed entity to unlock shareholder value. The demerger ratio was set at 1:10, meaning shareholders with 10 shares of ITC, as of January 6, 2025, will receive one share of ITC Hotels after the demerger. Following the listing, ITC Hotels will be included in all NSE and BSE indices at a constant price for three business days. If the stock hits circuit limits, the exclusion will be delayed by two trading days each time.

Overnight, Wall Street surged as AI-related tech stocks rebounded sharply. The Nasdaq jumped 2 per cent, fueled by a 9 per cent recovery in Nvidia following its record $593 billion single-day market cap loss. Apple rose nearly 4 per cent ahead of its earnings report this week, while investors awaited quarterly results from Microsoft and other tech giants.

Japan and Australia saw early gains in the Asia-Pacific region, reflecting Wall Street’s momentum. Meanwhile, markets in Taiwan, South Korea, Hong Kong, and China were closed for the Lunar New Year holidays.

View More
Advertisement
Advertisement
Sat Feb 15, 9:27 am
connaught place
26.8°
Precipitation: 0 mm    Humidity: 28%   Wind: ENE 10.7 km/h
See Today's Weather
Powered By:
Accu Weather
Advertisement

Top Headlines

AAP Suffers Major Blow Ahead Of MCD Polls As Councillors Switch To BJP
AAP Suffers Major Blow Ahead Of MCD Polls As Councillors Switch To BJP
J&K L-G Manoj Sinha Sacks Govt Employees Over 'Terror Link' Charge
J&K L-G Manoj Sinha Sacks Govt Employees Over 'Terror Link' Charge
Speeding BMW Crashes Into Traffic Booth In Hyderabad — Video
Speeding BMW Crashes Into Traffic Booth In Hyderabad — Video
New India Co-Operative Bank General Manager Booked For 'Stealing' Rs 122 Cr From Treasury
New India Co-Operative Bank General Manager Booked For 'Stealing' Rs 122 Cr From Treasury
Advertisement
ABP Premium

Videos

Breaking News: Akhilesh Yadav Holds Major Press Conference, Discusses Key Issues | ABP NEWSBreaking News: General Manager Involved in ₹12 Crore Scam at New India Co-operative Bank; EOW InvestigatesBreaking News: Arvind Kejriwal's Trouble Escalate as CVC Orders Investigation into CM Residence | ABP NEWSBreaking News: BJP Slams Arvind Kejriwal Over Renovation of CM Residence | ABP NEWS

Photo Gallery

Embed widget

We use cookies to improve your experience, analyze traffic, and personalize content. By clicking "Allow All Cookies", you agree to our use of cookies.