Sensex Today | Stock Market LIVE Updates: IT, private banks drag Sensex over 750 points lower; Nifty below 23,150

Sensex Today | Stock Market LIVE Updates | Shares of IT firm Infosys fell by more than 4% in early trade, making it the top underperformer on the Sensex, despite reporting an 11% YoY increase in its consolidated net profit. The company also raised its revenue forecast and highlighted early signs of increased discretionary spending from its U.S. clients.

Shares of private lender Axis Bank also declined by over 4% after the bank missed its quarterly profit expectations, citing slower loan growth and higher provisions for bad loans.

Highlights of trade:

Reliance Industries shares rally over 4% after Q3 results beat estimates.

Reliance Industries (RIL) shares surged 4.4% to hit an intraday high of ₹1,325.10 on the BSE on Friday, following the company’s announcement of a 7% year-on-year (YoY) increase in consolidated net profit to ₹18,540 crore for the third quarter.

Infosys shares slide 5% after Q3 earnings.

Infosys shares dropped nearly 5% to a daily low of ₹1,832 on Friday, January 17, after the company reported its Q3 results. Despite posting an 11% year-on-year growth in consolidated net profit to ₹6,806 crore, the results failed to excite D-St investors, even as revenue from operations rose 8% YoY to ₹41,764 crore.

Axis Bank shares dip 4% after Q3 earnings miss estimates.

Axis Bank shares dropped 4.3% to a daily low of ₹995.10 on the BSE today after the company reported a 3.8% growth in consolidated net profit for the quarter ending December 31, 2024, reaching ₹6,304 crore, compared to ₹6,071 crore in the same period last year.

Waaree Renewable Technologies shares crack 7% as Q3 profit falls nearly 17% YoY

Shares of Waaree Renewable Technologies fell 7% on the BSE to an intraday low of ₹1,001.05 after the company reported a 16.7% year-on-year decline in its profit after tax (PAT) for the third quarter ending December 2024, which stood at ₹53.50 crore.

Sat Kartar Shopping shares list at 90% premium over IPO price on NSE SME platform

Following a successful IPO, Sat Kartar Shopping shares made their debut on the NSE SME platform on Friday with a 90% premium. The stock opened at ₹153.9, compared to the IPO price of ₹81.

Global markets

Chinese stocks received some support after official data revealed that the economy grew by 5.4% year-on-year in the fourth quarter, much stronger than expected, bringing the full-year 2024 growth to 5%, right in line with Beijing’s target.

Japan’s Nikkei dropped 1.1%, while MSCI’s world index fell by 0.05%. The broadest index of Asia-Pacific shares saw a 0.4% decline.