Stocks of Kalyan Jewellers, Spandana Sphoorty, ONGC, Dixon Technologies were trending on Wednesday, January 8, 2025. In early trade on January 8, the Sensex 30 declined 236.42 points to reach 77,962.69, while Nifty 50 went down 62.45 points to touch 23,645.45.
As in the past few weeks – and especially since October 2024, — selling of Indian equities by Foreign Institutional Investors (FII) dominated the market. Another factor that adversely impacted market sentiment was the continuous erosion of value of the Indian rupee against the US Dollar. In the early trade on January 8, the rupee against touched a new low against the greenback.
Kalyan Jewellers share price
The Kalyan Jewellers stock declined as much as 6.2% in early trade on January 8 and touched a new low of Rs 677.55. According to reports, it was due to profit booking in the counter. Significantly, it came a day after the shares of this jeweller announced a remarkable revenue growth of about 41% in Q3 (October-December 2024).
Spandana Sphoorty share price
Around 11:15 am on January 8, the Spandana Sphoorty Financial (NSE: SPANDANA) stock stood at Rs 454.90, up Rs 54.45 (or 13.60%). It is small-cap stock and has been rising over the past 2 days. On January 7, it rose as much as 20% and then on January 8, it zoomed 15% in the morning trade. On Wednesday, this stock opened at Rs 405 against its previous close of Rs 402.75.
ONGC share price
The stock of Oil and Natural Gas Corporation (NSE: ONGC) was trading at Rs 266.42, up Rs 2.93 (or 1.11%) around 11:20 am. Analysts attributed the bullish sentiment to the fact that global brokerage major CLSA has assigned “high-conviction outperform” to this PSU major. CLSA has also set a target price of Rs 360 on ONGC, which signals an upside of about 42% from the closing price on January 6.
Dixon Technologies
The stock of Dixon Technologies (India) (NSE: DIXON) was trading at Rs 17,162.40, down 1,289.45 (or 6.99%) on January 8. This contract manufacturer major in the consumer durables sector jumped nearly 171% in the past 12 months on consistent key deals, order wins, and terrific financial performance.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Both the broad market indices Sensex and Nifty opened in the red on Wednesday, January 8, 2025. Here are the stocks which were trending today. Among them are Kalyan Jewellers, Spandana Sphoorty, ONGC shares, Dixon Technologies. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
