Business

Sensex Gains 319 Points, Nifty Rises 99 Points As Banking & Midcap Stocks Lead Rally

India’s benchmark indices ended Thursday on a positive note, buoyed by strong performances in the banking and midcap segments.

The Sensex rose by 318.74 points (0.42%) to close at 77,042.82, while the Nifty climbed 98.60 points (0.42%) to settle at 23,311.80.

Among top performers, Adani Ports gained 2.03%, closing at Rs 1,151 per share.

The Nifty Bank index advanced significantly, ending at 49,278.70, up by 527 points (1.08%). Broader indices also posted gains, with the Nifty Midcap 100 rising by 1.09% and the Nifty Smallcap 100 climbing by 1.67%.

Market experts attributed the positive trend to improving investor sentiment fueled by lower-than-expected US inflation data, which sparked optimism for a potential rate cut by the Federal Reserve.

They stated, “Additionally, favorable developments in the Israel-Hamas ceasefire and a reduced trade deficit further boosted the market’s upward movement. However, weak economic growth data from the UK dampened some of this optimism. Despite higher valuations compared to leading indices, the broader market saw bargain buying during the recent correction.”

On the Bombay Stock Exchange (BSE), 2,779 shares ended in the green, 1,187 in the red, while 101 remained unchanged.

In the Sensex pack, top gainers included Adani Ports, SBI, IndusInd Bank, Axis Bank, Tata Motors, Bharti Airtel, Bajaj Finserv, NTPC, Maruti Suzuki, UltraTech Cement, and ICICI Bank. The top losers were HCL Tech, Infosys, Hindustan Unilever, and ITC.

Meanwhile, on 15 January, foreign institutional investors (FIIs) sold equities worth Rs 4,533.49 crore, while domestic institutional investors (DIIs) purchased equities worth Rs 3,682.54 crore.

Also Read: India Ranks 27th In QS World Future Skills Index; Excels In Future Of Work Category

Mankrit Kaur

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