Domestic Market Recovers As Concerns Over HMPV Ease

India’s domestic stock market saw a positive close on Tuesday, bolstered by favorable global cues and increased market surveillance, as concerns surrounding HMPV eased.

Investors showed buying activity across several sectors, including metals, media, energy, commodities, PSU banks, financial services, pharma, and FMCG.

The Sensex ended at 78,199.11, gaining 234.12 points or 0.30%. The Nifty closed at 23,707.90, up by 91.85 points or 0.39%.

Nifty Bank index rose by 280.15 points, or 0.56%, to settle at 50,202.15. The Nifty Midcap 100 and Nifty Smallcap 100 indices also saw gains, closing at 56,869.3 (up by 502.35 points or 0.89%) and 18,673.45 (up by 248.20 points or 1.35%), respectively.

On the Bombay Stock Exchange (BSE), 2,627 shares closed in the green, while 1,356 shares ended in the red. The number of unchanged stocks was 103.

autious Outlook For Domestic Market

Market experts say that with positive global cues and no major concerns about HMPV, the domestic market partially rebounded from yesterday’s sharp sell-off, trading within a range as investors awaited India’s critical FY25 GDP advance estimates.

They noted, “In the near term, the market will likely remain cautious, awaiting signs of earnings recovery during the upcoming result season, while also dealing with ongoing FII selling driven by the strengthening dollar, rising US bond yields, and reduced expectations of further rate cuts.”

In terms of sectors, the auto, IT, and consumption segments were the biggest losers.

Among the top gainers in the Sensex pack were Tata Motors, ICICI Bank, Asian Paints, Nestle India, UltraTech Cement, L&T, Adani Ports, Tata Steel, IndusInd Bank, Titan, Hindustan Unilever Limited, Sun Pharma, and SBI.

Conversely, Zomato, HCL Tech, TCS, Tech Mahindra, Kotak Mahindra Bank, Infosys, and Bajaj Finserv were among the biggest losers.

Foreign institutional investors (FIIs) sold equities worth Rs 2,575.06 crore on 6 January, while domestic institutional investors (DIIs) bought equities worth Rs 5,749.65 crore.

Experts stated, “As the market approaches critical support and resistance levels, investors are advised to monitor price action closely and adopt a cautious stance in the coming sessions.”

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