At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 324.69 points or 0.43% to 76,707.94. The Nifty 50 index lost 87.05 points or 0.37% to 23,224.75.

In the broader market, the S&P BSE Mid-Cap index shed 0.10% and the S&P BSE Small-Cap index lost 0.01%.

The market breadth was negative. On the BSE, 1,370 shares rose and 1,410 shares fell. A total of 151 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,341.95 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,928.72 crore in the Indian equity market on 15 January 2025, provisional data showed.

Stocks in Spotlight:

Reliance Industries (RIL) added 2.57% after the company reported a 12% year-on-year increase in consolidated net profit to a record high of Rs 21,930 crore in the quarter ended December 31, 2024. This strong performance was driven by robust growth across its key business segments: digital services, retail, and oil-to-chemicals. RIL's Q3 revenue grew 7.7% to Rs 2.67 lakh crore.

Axis Bank slipped 3.18%. The bank's standalone net profit increased 3.83% to Rs 6,303.77 crore on 10.17% jump in total income to Rs 36,926.14 rore in Q3 FY25 over Q3 FY24. Net interest income (NII) grew 9% YoY to Rs 13,606 crore. Net Interest Margin (NIM) stood at 3.93% in Q3FY25.

Infosys declined 4.12%. The company reported 4.61% rise in consolidated net profit to Rs 6,806 crore on a 1.89% increase in revenues to Rs 41,764 crore in Q3 FY25 over Q2 FY25. The total contract value (TCV) of large deal wins was $2.5 billion in Q3 of FY25, with a net new of 63%. It has raised FY25 guidance to 4.5%-5% in constant currency

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 1.63% to 6.864 as compared with previous close 6.865.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.5700, compared with its close of 86.6100 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement shed 0.11% to Rs 79,142.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 108.97.

The United States 10-year bond yield rose 0.07% to 4.610.

In the commodities market, Brent crude for March 2025 settlement rose 34 cents or 0.42% to $81.63 a barrel.

Global Markets:

Most Asian stocks declined on Friday after US shares struggled to gain traction.

China's industrial production grew 6.2% year on year in December, government data showed on Friday. It compares to a 5.4% rise seen in the prior month. Meanwhile, Chinese retail sales rose 3.7% in December, accelerating sharply from the 3.0% rise seen in November.

Shares in Japan fell as the yen largely held onto gains from earlier in the week.

US markets weakened on Thursday after initial optimism surrounding softer-than-expected inflation data was tempered by robust retail sales and a resilient labor market. These data points suggested that the Federal Reserve may have more room to gradually slow down interest rate cuts.

The S&P 500 fell 0.2% to 5,937.33 points, while the NASDAQ Composite slid 0.9% to 19.338.29 points. The Dow Jones Industrial Average fell 0.2% to 43,153.13 points.

US retail sales climbed by 0.4% in December, reaching $729.2 billion, according to the US Census Bureau's report on Thursday. This figure was lower than November's 0.8% increase.

The number of Americans filing new applications for unemployment benefits increased more than expected last week but remained at levels consistent with a healthy labor market. Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 217,000 for the week ended Jan. 11, the Labor Department said on Thursday.

Nonfarm payrolls increased by 256,000 jobs in December, while the unemployment rate dropped to 4.1% from 4.2% in November.

Investor attention also focused on the potential impact of President-elect Trump's policies, particularly his plans for increased trade tariffs.

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