Wed Jan 08 15:53:12 UTC 2025: ## Indian Stock Market Dips Amidst Weak Global Signals

**Mumbai, January 7, 2025** – Indian stock markets experienced a downturn today, mirroring weak global trends. The Sensex closed down 51 points at 78,148, while the Nifty fell 19 points to settle below 23,700 at 23,689.

Several sectoral indices on the Nifty ended in the red, including banking, finance, auto, metals, realty, and pharmaceuticals. FMCG and IT sectors, however, showed gains.

Top gainers for the day included ITC, Asian Paints, TCS, Reliance, and HCL Tech. Conversely, Adani Ports, UltraCemco, Zomato, Larsen & Toubro (LT), and Sun Pharma were among the top losers.

**Corporate News:**

* **Bharat Serums & Vaccines:** The parent company pledged 56.31% of its remaining shares in Bharat Serums & Vaccines as collateral to benefit Non-Convertible Debenture (NCD) holders.
* **Tata Steel:** Increased its India production by 6.2% to 5.68 million tons, while deliveries rose by 8.4%. Production in the UK remained at 0 MT, and deliveries decreased. Netherlands saw significant production and delivery increases.
* **Bandhan Mutual Fund:** Launched a new open-ended Nifty Alpha Low Volatility 30 Index Fund, combining alpha and low volatility investment strategies. The NFO is open until January 20, 2025.
* **Kalyan Jewellers:** Reported a 39% year-on-year revenue increase in Q3 FY24-25, driven by strong festive and wedding demand. They plan to open 170 new showrooms in India and abroad next fiscal year.
* **Alkem Labs:** Announced the sale of its manufacturing plant in Pithampur, Madhya Pradesh, to Rubicon Research Limited for approximately ₹149 crore.
* **F&O Ban:** Bandhan Bank was added to the F&O ban list on NSE today, while Hindustan Copper, Manappuram Finance, and RBL Bank remained on the list.

**Global Market Overview:**

Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth ₹1491.46 crore, while Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth ₹1615.28 crore.

Brent crude rose by 0.40% to $77.35 per barrel, and WTI crude increased by 0.54% to $74.65 per barrel. The US dollar index saw a slight increase, and the 10-year US Treasury yield remained stable at 4.68%.

Asian markets displayed mixed performance, with some showing gains and others experiencing losses. US markets closed lower on Tuesday. The Dow Jones Industrial Average fell 178 points, NASDAQ Composite dropped 375 points, and the S&P 500 index decreased by 66 points.

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