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What happened in the Indian stock market today?

On January 9, 2024, the BSE Sensex and NSE Nifty initially gained 0.9% but later lost momentum, closing with marginal gains.

What happened in the Indian stock market today?

The BSE Sensex rose by 30.99 points (0.04%) to 71,386.21, while the NSE Nifty advanced by 39.30 points (0.18%) to 21,552.30.

Despite robust gains in the preceding months, the market turned volatile in January due to a lack of fresh triggers. Market experts attribute this volatility to higher-level profit booking, considering that most positive factors are already factored in.

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Impact on the stock market

Nifty Bank, PSU Bank, and Private Bank indices closed down by 0.44%, 0.16%, and 0.37%, respectively. The Financial Services index fell by 0.45%. Nifty Media was the top loser among sectoral indices, ending with a 3.32% loss.

Information Technology+0.43%
Oil & Gas+0.11%
PSU Banks-0.16%

Top gainers today

CompanyPriceChange (%age)
Hero Motocorp4,112.50+ 2.57%
Adani Ports1,197.10+ 2.42%
Apollo Hospital5,797.65+ 2.04%
SBI Life Insurance1,449.35+ 1.99%
Adani Enterprise3,014.60+ 1.72%

Top losers today

CompanyPriceChange (%age)
Britannia5,122.40– 1.06%
Nestle2,592.60– 1.02%
Asian Paints3,267.50– 0.94%
Bajaj Finserv1,682.45– 0.82%
HDFC Bank1,650.50– 0.78%

Market aftermath: Impact on stocks

Bajaj Auto surges to record high with ₹4,000-crore share buyback approval

Bajaj Auto witnessed a remarkable 5.94% surge in its shares, reaching a fresh record high of ₹7,399 apiece during the early trading session. This surge followed the board’s approval of a ₹4,000-crore share buyback at ₹10,000 per share, representing a substantial 43.20% premium compared to the previous day’s closing price of ₹6,983.85.

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With the company’s market capitalisation at ₹1,97,768 crore as of January 8, this buyback size accounts for 2.02% of the total market capitalisation.

L&T hits 52-week high on ‘Significant’ AIIMS order

L&T’s shares surged 46.20% in the last six months, hitting a 52-week high at Rs 3,575.90 after securing a ‘significant’ order to build an AIIMS in Haryana. The undisclosed project value falls in the Rs 1,000 crore-Rs 2,500 crore range.

The stock traded at Rs 3,561 on the NSE, reflecting a 1.7% increase. The new institute encompasses a 720-bed teaching hospital, a 30-bed AYUSH hospital, and various educational and accommodation facilities totalling 1.5 million square feet.

JSW Steel sees 12% surge in crude steel production

JSW Steel Reports 12% Growth in Q3 Crude Steel Production, Reaching 6.87 Million Tonnes. Indian operations saw a 9% YoY increase, reaching 6.63 million tonnes. The USA-Ohio operations recorded a significant 191% YoY growth, totalling 0.24 million tonnes.

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Crisil forecasts India’s steel sector to achieve a third consecutive year of double-digit growth, estimating an 11-13% YoY increase in the current fiscal year. The company’s capacity utilisation in Indian operations stood at an impressive 94% for Q3.

Crude oil bounces back

Crude oil futures rebounded Tuesday after a more than 3% dip on Monday, influenced by Saudi Arabia’s oil price cuts.

As of 9:53 am, March Brent oil futures rose 0.20% to $76.27, while February WTI crude oil futures stood at $70.81, marking a 0.06% increase. The market displayed resilience despite the previous session’s setback.


In today’s market rollercoaster, indices initially soared but settled with marginal gains. Notable highlights include Bajaj Auto’s record surge, L&T’s AIIMS order driving a 52-week high, JSW Steel’s robust 12% growth, and crude oil’s bounce-back post-Monday’s dip.

The year kicked off with volatility, emphasising the need for keen market observation. Stay tuned with StockGro for your daily market insights!

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