Indian Stock Markets Surge with Auto, IT, and Healthcare Sectors Driving Gains
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Synopsis
On January 23, the Indian stock markets experienced a positive close, bolstered by significant buying in the automobile, information technology, and healthcare sectors. The BSE Sensex and Nifty 50 both recorded gains, with numerous stocks in the green, reflecting a healthy market sentiment despite some losses in key sectors.
Key Takeaways
- Indian stock markets close higher.
- Automobile, IT, and healthcare sectors led the rise.
- BSE Sensex gained 115 points, closing at 76,520.38.
- Nifty 50 rose by 50 points to 23,205.
- Broader markets outperformed benchmarks.
Mumbai, Jan 23 (NationPress) The Indian stock market experienced a positive trend on Thursday, buoyed by robust investments in the automobile, information technology, and healthcare sectors after recovering from initial declines.
By the end of trading, the BSE Sensex increased by approximately 115 points or 0.15 percent, reaching 76,520.38. Similarly, the Nifty 50 rose by 50 points or 0.22 percent to close at 23,205.
Among the 30 Sensex stocks, 19 recorded gains. Top performers included Tech Mahindra, Sun Pharma, M&M, Zomato, UltraTech Cement, and Titan.
Conversely, HUL, HDFC Bank, SBI, Reliance Industries, and HCL Tech were among the biggest losers.
In the Nifty 50, notable gainers included Wipro, Sun Pharma, Grasim, and UltraTech Cement, while BPCL, Kotak Mahindra, SBI, Reliance, and HCL Tech faced declines on the National Stock Exchange (NSE).
The broader market indices outshone the benchmark, with the Nifty SmallCap index climbing 1.1 percent and the MidCap index advancing 1.6 percent.
The Nifty IT index spearheaded the rally, gaining 2 percent. However, the Nifty PSU Bank index faced pressure, declining by 0.5 percent.
The market exhibited a generally positive sentiment on Thursday, with over 2,100 stocks on the BSE registering gains, outpacing the 1,800 shares that ended in negative territory.
Market analysts noted that optimism hinges on whether US President Donald Trump’s administration moderates its stance to maintain US and global economic growth.
“Nonetheless, this policy trajectory indicates a return to the trade-war playbook, where volatility becomes commonplace and headlines can swiftly sway market direction,” they commented.
According to Rupak De from LKP Securities, following a positive opening, the trading session remained subdued with limited index movement.
“The bearish trend appears likely to continue as long as the index remains below 23,400. Support levels are identified at 23,150 and 23,000,” he added.
