Share Market Highlights 25 January 2024: Sensex plunges 360 pts, Nifty settles below 21,400; IT stocks lead the decline amidst disappointing results

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Sensex, Nifty updates on 25 January 2024: The ​BSE Sensex​ fell 359.64 pts or 0.51% to close at 70,700.67. The ​NSE Nifty​ declined 101.35 pts or 0.47% to 21,352.60. This downturn was influenced by disappointing results from Tech Mahindra and the persistent decline in financial stocks. Noteworthy stocks hitting a 52-week high on the NSE included Malu Paper Mills (19.98%), Oswal Agro Mills (19.97%), Balkrishna Paper Mills (19.95%), Urja Global (19.95%), and Rajshree Sugars & Chemicals (19.94%). Geojit Financial Services’ Chief Investment Strategist, VK Vijayakumar, highlights the ongoing struggle between FIIs and DIIs, urging investors to capitalise on market volatility. He recommends adjusting portfolios, acknowledging significant valuation discrepancies across sectors, with some sectors flourishing based on order flows, while others, like banking, maintain fair value with promising performance.