Stock Market LIVE: Sensex drops 1,200 pts to 78,000; Broader mkts, sector indices fall between 1-3%

Stock Markets LIVE: In a trouble to bolster connectivity ahead of the important- awaited Maha Kumbh, Bharti Airtel has blazoned a series of significant upgrades in Prayagraj megacity. The company revealed moment, through a sanctioned exchange form, that it has installed a whopping 287 new spots, optimized further than 340 being bones, and laid a fresh 74 kilometers of fiber across the megacity. This expansive network overhaul aims to insure that mobile connectivity in the area meets the demands of millions of callers anticipated for the grand event.

In another development, the BSE and NSE conducted a special one- hour trading session on Monday, January 6, 2025, to grease the price discovery of ITC hospices’ shares following the company’s demerger of its hostel business. The Sensex, which took place from 9 AM to 10 AM, saw ITC’s stock opening at Rs 455, a dip of 5.4 percent from the former day’s ending price. As part of the demerger, ITC has set a rate of 110 — meaning for every 10 shares of ITC, investors will admit 1 share of ITC hospices. After the demerger is completed, ITC will retain a 40 percent stake in the recently separated hostel business.

Shares of listed quick-service restaurant (QSR) companies, meanwhile, have been riding high. On Monday, they surged by up to 5 percent on the BSE following a stellar business update from Jubilant FoodWorks (JFL) for the quarter ended December 2024. JFL, which operates Domino’s in India, saw its stock hit a new 52-week high of Rs 796.75, spiking by 5 percent amid strong trading volumes. Since December, the stock has seen a remarkable 24 percent increase. With a diverse portfolio spanning both global and homegrown brands—including the popular Domino’s, Popeyes, Dunkin’ Donuts, Hong’s Kitchen (an Indo-Chinese QSR in India), and COFFY (a café brand in Turkey)—JFL’s prospects in emerging markets appear more promising than ever.

And yet, in contrast to the positive movements in the restaurant sector, Indian share market today faced significant setbacks. On Monday, both the BSE Sensex and Nifty 50 experienced steep declines, as mixed global cues set the tone for a volatile trading day.