SOURCE : NEW18 NEWS
Last Updated:January 22, 2025, 15:41 IST
Nifty 50, Sensex on January 22: Benchmarks Sensex and Nifty50 started on a positive note, tracking firm global cues.
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Stock Market Updates: Equity benchmark indices experienced a roller-coaster session on Wednesday. After a steady start, the indices pared early gains and dipped into negative territory, only to recover later in the day, driven by gains in IT and private banking stocks.
The BSE Sensex opened higher at 76,114 but quickly slid to a low of 75,817. However, it surged to a high of 76,461 before settling with a gain of 567 points at 76,405.
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The NSE Nifty 50 index briefly dipped below the 23,000-mark for the second consecutive day, hitting a low of 22,981. It ultimately ended 131 points higher at 23,155.
HDFC Bank was a key driver of the recovery, posting a 2% increase in its Q3 net profit to Rs 16,735.5 crore, defying analysts’ expectations of a decline. The stock closed 1.7% higher at Rs 1,669.
Among the other top Sensex gainers, Infosys and TCS rose around 3% each, while Tech Mahindra, Sun Pharma, Bajaj Finserv, HDFC Technologies, Bajaj Finance, Maruti, Kotak Bank, IndusInd Bank, and Zomato gained 1-2%.
On the downside, Tata Motors fell more than 2%, with Power Grid, Axis Bank, and SBI also among the notable losers.
In the broader market, the BSE MidCap index declined 1.2%, while the SmallCap index dropped 1.6%. Both indices regained some ground in the latter half of the session.
Sector-wise, the BSE Realty index plunged to a 10-month low, and the Capital Goods index fell nearly 2%. On the positive side, the IT index saw a strong rally, gaining over 2%.
Global Cues
Asia-Pacific markets were trading mixed, following Wall Street’s gains after President Donald Trump’s less aggressive-than-expected tariff stance.
The Nikkei rose 1.5 per cent, while the ASX 200 was up 0.4 per cent. The Kospi also increased 0.7 per cent. Meanwhile, Sang Seng was down 1.3 per cent.
Overnight in the US, the three major indices advanced as investors perceived Trump’s comments on international trade to be softer than expected. The Dow Jones added 1.24 per cent, the S&P 500 gained 0.88 per cent, and the Nasdaq Composite rose 0.64 per cent.
Trump stated he was considering 25 per cent tariffs on Mexico and Canada starting February 1 due to their border policies while signing first-day executive orders in the White House on Monday night. He also mentioned China, suggesting potential tariffs if it does not approve a TikTok deal.
