Indian Stock Market update: 10 key shifts overnight – From Gift Nifty to Reliance Q3 results and Infosys ADR

The Indian stock market indices, Sensex and Nifty, are expected to open lower on Friday, following a decline in global markets. Asian markets traded weakly, while the US market closed lower after a tech stock sell-off.

On Thursday, the Indian market extended its winning streak for the third consecutive session. The Sensex gained 318.74 points (0.42%) to end at 77,042.82. Meanwhile, the Nifty 50 rose 98.60 points (0.42%), closing at 23,311.80.

Despite the recovery, Nifty remains below its 200-day moving average (DMA) of 23,963, with strong support around 23,000. Traders will now look for triggers like the Federal Open Market Committee (FOMC) meeting and upcoming Delhi Assembly elections to guide market movements, according to Prashanth Tapse, Senior VP at Mehta Equities Ltd.

Asian Markets Most Asian markets traded lower on Friday, influenced by the US stock market’s decline. Investors are also waiting for crucial economic data from China. Japan’s Nikkei 225 fell 0.21%, and South Korea’s Kospi remained flat. Hong Kong’s Hang Seng index futures pointed to a weak opening.

Gift Nifty Gift Nifty traded around 23,322, indicating a negative start for the Indian stock market with a discount of nearly 55 points from the previous Nifty futures close.

Wall Street US markets ended lower as investors assessed earnings results and economic data. The Dow Jones dropped 68.42 points (0.16%) to 43,153.13, while the S&P 500 fell 12.57 points (0.21%) to 5,937.34. The Nasdaq Composite dropped 172.94 points (0.89%) to 19,338.29. Tech stocks saw significant losses, with Apple, Nvidia, and Tesla shares all falling.

Reliance Q3 Results Reliance Industries reported a net profit of ₹18,540 crore for Q3 FY25, marking a 7.4% increase from the previous year. Revenue rose 6.7% to ₹2.40 lakh crore. The company’s EBITDA grew by 8% to ₹43,789 crore, with an improved margin of 18.3%.

Infosys Q3 Results Infosys reported a 4.6% increase in Q3 FY25 net profit, reaching ₹6,806 crore. The IT giant’s revenue grew by 2% to ₹41,764 crore. Infosys raised its constant currency revenue growth guidance for FY25 to 4.5%-5%, from the previous 3.75%-4.5%.

Infosys ADRs closed 5.77% lower on January 16, signaling a potential dip in shares when the market opens.

US Fed Governor Christopher Waller Federal Reserve Governor Christopher Waller indicated that inflation might continue to ease, potentially allowing the Fed to cut interest rates sooner than expected.

US Retail Sales Retail sales in the US grew at a slower pace in December, up by 0.4% from November, reaching $729.2 billion.

US Jobless Claims The number of Americans filing for unemployment benefits increased to 217,000, higher than expected.

Dollar and Oil Prices The US dollar index dropped slightly, while crude oil prices rose. Brent crude gained 0.18%, reaching $81.44 per barrel.