The Indian stock market witnessed healthy buying interest on Thursday, January 22, amid short covering following the recent selloff, amid positive global cues on signs of easing geopolitical tensions.
Snapping their three-session losing streak, the Sensex rose 398 points, or 0.49%, to end at 82,307.37, while the Nifty 50 settled at 25,289.90, rising 132 points, or 0.53%.
Mid and small-cap segments outperformed as the BSE Midcap and Smallcap indices rose 1.28% and 1.13%, respectively.
The overall market capitalization of BSE-listed firms rose to nearly ₹459 lakh crore from ₹454 lakh crore in the previous session, making investors richer by about ₹5 lakh crore in a single session.
10 key highlights from the Indian stock market today
1. Why did the market rise?
The rebound in the market can be attributed to easing tensions between the US and Europe after President Donald Trump softened his stance on Greenland.
Optimism surrounding a potential India-US trade deal also boosted sentiment.
“The domestic market staged a rebound, supported by signs of relief following President Trump’s positive remarks at the Davos meeting regarding Greenland and tariffs,” Vinod Nair, Head of Research, Geojit Investments, noted.
“The initial set of corporate earnings did little to support current valuation levels. Nevertheless, investors have not ruled out the potential upside from a robust domestic demand environment, which could become more visible in the upcoming round of quarterly earnings announcements. Looking ahead, markets will closely monitor US GDP growth and core inflation data later today, as well as the BoJ policy decision due tomorrow, for further cues,” Nair said.
2. Top Nifty 50 gainers
As many as 40 stocks ended higher in the Nifty 50 index, among which Dr. Reddy’s Laboratories (up 5.31%), Bharat Electronics (BEL) (up 3.76%), and Adani Enterprises (up 2.76%) ended at the top.
3. Top losers in the Nifty 50 index
Eternal (down 2.47%), SBI Life Insurance Company (down 1.48%), and Titan Company (down 1.40%) ended as the top losers in the index.
4. Sectoral indices today
Nifty Bank jumped 0.68%, while the Financial Services index rose by 0.69%.
Nifty Media and PSU Bank indices clocked strong gains of 2.39% and 2.34%, respectively.
Pharma, Metal, healthcare, and FMCG indices jumped more than 1% each.
5. Most active counters in terms of volume
Tata Silver Exchange Traded Fund (117.24 crore shares), Vodafone Idea (53.3 crore shares), and Tata Gold Exchange Traded Fund (44.56 crore shares) were the most active counters in terms of volume on the NSE.
6. Advance-decline ratio
The advance-decline ratio remained in favor of advancers as nearly 3,000 stocks advanced while about 1,300 declined on the BSE.
7. Nearly 40 stocks hit 52-week high
As many as 69 stocks, including Federal Bank, SBI, and Vedanta, hit their 52-week highs on the BSE.
8. Over 270 stocks hit 52-week highs
As many as 276 stocks, including ITC, Lodha Developers, Kalyan Jewelers India, and Godrej Properties, hit their 52-week lows on the BSE.
9. 20 stocks jump over 15%
Bajaj Consumer Care, Rallis India, Physicswallah, Lotus Chocolate Company, Transworld Shipping Lines, Globe Civil Projects, Aksh Optifibre, and MK Proteins were among the 20 stocks that jumped over 15% on the BSE.
10. Nifty’s technical outlook
According to Shrikant Chouhan, Head Equity Research of Kotak Securities, on the downside, 25,150 could act as a key support zone, while 25,500 and 25,600 could act as key resistance levels for bulls. Below 25,150, Nifty could move towards 25,000.
Chouhan suggests reducing weak long positions between 25,500-25,600.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
