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What happened in the Indian stock market today?

share market today

On January 11, the Sensex opened 250 points higher at 71,907.75, touching an intraday high of 71,999.47. However, it later trimmed gains, closing 63 points or 0.09% higher at 71,721.18, compared to the previous close of 71,657.71.

Nifty 50 opened at 21,688, reaching an intraday high of 21,726.50, and closed at 21,647.20, up 29 points or 0.13%.

Global cues were positive ahead of US inflation data. According to a Reuters poll, core CPI is expected to remain at 0.3%, while year-on-year inflation is anticipated to be 3.8% in December from 4% in November.

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Impact on the stock market

Over 500 stocks, including Reliance Industries, Bharti Airtel, IndusInd Bank, Tata Motors, Hero MotoCorp, InterGlobe Aviation (IndiGo), Tata Power, and TVS Motor Company, hit their fresh 52-week highs in intraday trade on BSE.

Information Technology-0.28%
Oil & Gas+1.48%
PSU Banks+0.64%

Top gainers today

CompanyPriceChange (%age)
Hero Motocorp4,341.50+ 4.92%
Bajaj Auto7,300.05+ 3.49%
Reliance2,719.95+ 2.64%
Axis Bank1,125.00+ 1.63%
BPCL458.20+ 1.54%

Top losers today

CompanyPriceChange (%age)
Infosys1,494.20– 1.69%
Dr. Reddys Labs5,692.45– 1.64%
SBI Life Insurance1,427.80– 1.63%
HUL2,536.20– 1.60%
Wipro448.20– 1.19%

Market aftermath: Impact on stocks

Polycab India share price plummets over 22% amidst income tax raids and allegations

Polycab India witnessed a sharp decline of over 22% in its share price on BSE, opening at ₹4,421.85 and reaching ₹3,812.35, following reports of Income Tax (I-T) Department raids in December. Nearly 33 lakh shares worth ₹1,293 crore changed hands in block deals.

Media reports suggest tax evasion allegations of ₹200 crore against Polycab, leading to a 9% fall on January 9. The company denied the allegations, asserting compliance and transparency.

The I-T Department reportedly identified transactions worth ₹250-300 crore in promoter accounts, intending to issue notices for evaded taxes and penalties.

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RBZ jewellers’ shares soar 110% in 12 days, hit 20% upper circuit again

RBZ Jewellers shares continue their remarkable ascent, hitting the 20% upper circuit for the second consecutive day, achieving a staggering rally of over 110% in just 12 days since its debut on December 27, 2023.

With a listing at ₹105 apiece, reflecting a 5% premium to the IPO price of ₹100, the current market price of ₹211 signifies a remarkable 111% surge. The ₹100 crore IPO garnered substantial interest, recording a subscription rate of 17 times during its open period from December 19 to December 21.

HDFC AMC reports strong Q3 results: Net profit up 32% to ₹ 488 crore

HDFC Asset Management Company reported a robust Q3 FY24 performance with a consolidated net profit of ₹ 488 crore, marking a significant 32.2% YoY increase from ₹ 369.2 crores in the same quarter last fiscal.

Consolidated revenue also surged 20% YoY to reach ₹ 671.3 crore. The company closed the quarter with assets under management (AUM) worth ₹ 5.75 lakh crore. The operating profit from the core asset management business rose by 25% to ₹ 496.1 crore.

Crude oil prices

Crude oil futures rose on Thursday morning, overcoming a surprise uptick in US crude oil inventories. Despite the unexpected increase, March Brent oil futures were up 0.38% at $77.09, and February WTI crude oil futures stood at $71.63, reflecting a 0.36% gain.

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The market displayed resilience as geopolitical tensions, particularly the Houthis’ attacks on merchant vessels in the Red Sea region, influenced the upward trajectory of crude oil prices.


In today’s market update, Indian indices showed early enthusiasm, with Sensex gaining 250 points but settling 0.09% higher, while Nifty edged up 0.13%. Meanwhile, Polycab faced a share slump amidst tax evasion allegations, RBZ Jewellers continued its spectacular rally, and HDFC AMC posted a strong Q3 with a 32% rise in net profit.

Crude oil prices rose despite a surprise US inventory increase, reflecting market resilience amid geopolitical tensions.

Stay tuned for more dynamic market movements and updates at StockGro!

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