Indian Stock Market Closes Up, Realty Sector Leads Gains

Synopsis

On January 15, India's stock market closed positively, driven by a robust performance in the realty sector, which gained 1.39%. The Sensex and Nifty indices also saw upward movements, despite ongoing market volatility influenced by global economic factors.

Key Takeaways

Real estate sector surged by 1.39%.
Sensex closed at 76,724.08.
Nifty finished at 23,213.20.
FIIs sold stocks worth Rs 8,132.26 crore.
Market sentiment favors a short-term recovery.

Mumbai, Jan 15 (NationPress) The Indian stock market's key benchmark indices concluded the day on a positive note, with the real estate sector achieving a noteworthy rise of 1.39 percent.

The Sensex closed at 76,724.08, gaining 224.45 points or 0.29 percent, while the Nifty finished at 23,213.20, up by 37.15 points or 0.16 percent.

The Nifty Bank index concluded at 48,751.70, marking an increase of 22.55 points or 0.05 percent. The Nifty Midcap 100 registered a close at 53,899 after advancing 222.50 points or 0.41 percent, and the Nifty Smallcap 100 index wrapped up at 17,353.95, having added 96.15 points or 0.56 percent.

Experts believe that the domestic market is experiencing volatility due to rising US bond yields, a strengthened dollar, and an increase in foreign institutional investors (FIIs) outflows.

“Global markets are approaching with caution as the US December CPI inflation data is expected to remain high in the short term, restricting the Federal Reserve’s capacity to lower rates. Additionally, increasing oil prices and dollar strengthening are likely to impact domestic inflation soon,” they remarked.

On the Bombay Stock Exchange (BSE), 2,152 shares finished positively, while 1,802 shares ended negatively, and 110 shares saw no change.

Among the Sensex constituents, the top performers included Zomato, NTPC, Power Grid, Kotak Mahindra Bank, Maruti Suzuki, Tech Mahindra, L&T, Adani Ports, SBI, HCL Tech, UltraTech Cement, Infosys, Bharti Airtel, and Hindustan Unilever Limited. Conversely, the biggest decliners were M&M, Axis Bank, Bajaj Finserv, Bajaj Finance, Tata Motors, Nestle India, Sun Pharma, and Asian Paints.

“Today’s trading was marked by fluctuations as the market struggled for direction. However, the sentiment appears to lean towards a short-term recovery, with a potential target of 23,400 on the upper side,” stated Rupak De from LKP Securities.

In related news, FIIs divested equities worth Rs 8,132.26 crore on January 14, while domestic institutions acquired equities valued at Rs 7,901.06 crore on the same day.