After starting the day on a negative note, the benchmarks dragged further as the session progressed and ended the day on a weak note.Benchmark equity indices, BSE Sensex and NSE Nifty50, settled in the negative territory on Thursday.At the closing bell, the BSE Sensex stood lower by 528 points (down 0.7%).Meanwhile, the NSE Nifty closed lower by 162 points (down 0.7%).Nestle, Bajaj Auto, and HUL were the top gainers today.ONGC, BPCL, and Coal India on the other hand, were among the top losers today.The GIFT Nifty ended at 23,657 down by 98 points.The BSE Mid Cap ended 0.9% lower and the BSE Small Cap index ended 1.2% lower.Barring the FMCG sector, other sectoral indices are trading on a negative note with stocks in the energy sector, oil & gas sector, and power sector witnessing selling pressure.The rupee is trading at 85.87 against the US$.Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 77,963 per 10 grams.Meanwhile, silver prices are trading 0.5% higher at Rs 91,420 per 1 kg.Here are five reasons why Indian Markets are falling today#1 Q3 results on EdgeTata Consultancy Services (TCS) is set to kick off the Q3 earnings season today and several analysts have noted that the IT giant could witness a sequential slowdown.Alongside TCS, Indian Renewable Energy Development Agency, Tata Elxsi, GTPL Hathway, Mishka Exim, Padam Cotton Yarns, Teamo Productions HQ, Vivo Bio Tech and Yash Highvoltage will also report September to December 2024 period results today.#2 Rupee Hits Record LowThe Indian Rupee has yet another all-time low, yet again. The Indian currency’s value (traded) slumped to 85.94 against the US dollar. The Indian Rupee is inching closer to the 86 mark.#3 Concern Over US Trade PoliciesUncertainty over the trade and tariff policies of U.S. President-elect Donald Trump, as he prepares for a second term, kept global investors wary. Markets are also bracing for the impact of upcoming Union Budget proposals.#4 US Fed Cut Expectation FallsConcerns over U.S. trade and immigration policies have added to market jitters President Trump is reportedly considering declaring a national economic emergency to justify broad-based tariffs, including a 10 percent levy on global imports and approximately 60% on Chinese goods.
TCS Shares Fall Ahead of Q3In news from the IT sector, Tata Consultancy Services Ltd (TCS) shares dropped nearly 2% to trade on 9 January.The decline comes ahead of the IT giant’s Q3 (October-December) earnings results, which are scheduled to be released later today.The fall in the stock price also comes amid weak market sentiment with Sensex falling over 500 points on 9 January.TCS is likely to post a less than 1% sequential decline in revenue to Rs 642.2 bn, down from the Rs 642.6 bn that it clocked in the last quarter.Tata Consultancy Services (TCS) is set to announce its quarterly results, and market expectations are running high. Profit growth is anticipated to be driven by a combination of factors, including improved EBIT margins supported by rupee depreciation and enhanced operational efficiencies.
Puravankara Stock in FocusMoving on to news from the real estate sector, Puravankara announced the acquisition of a 3.63-acre land parcel in Kanakapura Road, Bengaluru, bringing its stocks into focus.This acquisition aligns with the company’s strategic vision to expand its footprint in key Bengaluru micro-markets with robust infrastructure, connectivity, and residential demand.The land parcel is in a prime location on Kanakapura Road and enjoys seamless road and metroconnectivity to prominent parts of the city.Over the past year, its shares have zoomed 68%.
SRF, Navin Fluorine Stocks Shoot 12%
Moving on to news from the chemical sector, shares of speciality chemical players–SRF and Navin Fluorine zoomed about 12% each on January 9 following reports of a hike in prices of refrigerant gases in the US. With gains in today’s session, both stocks have extended their up move to the third day in a row.According to the news report, US gas distributors have announced a price hike for refrigerant gases, with IGas USA stating that the supply of R32 and R125 has been affected, leading to an uptick in price by up to 200%.US$1 per kilogram increase in realisations of the R32 refrigerant could boost SRF’s EBITDA by Rs 2.6 bn.Similarly, Navin Fluorine’s EBITDA could improve by Rs 770 m for every US$ 1 per kilogram rise in R32 gas realisations.Both the companies are major domestic players in the refrigerant gases market and a boost in prices of the commodity will help lift their earnings.The earnings of these companies have remained under pressure for the past two years amid a downturn in global demand and an influx of Chinese inventory, hence, the positive development cheered investors.
