Indian Stock Market Rebounds, Ends Two-Day Decline with Gains Across Key Indices
Indian stock markets showed positive momentum on Tuesday, recovering from a two-day decline. Amid mixed global signals, the benchmark indices gained ground, signaling investor optimism.
Mumbai: Indian stock markets showed positive momentum on Tuesday, recovering from a two-day decline. Amid mixed global signals, the benchmark indices gained ground, signaling investor optimism.
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Sensex and Nifty50 Close Higher
At the closing bell, the BSE Sensex surged by 592.19 points, or 0.79%, to close at 75,958.36, while the Nifty50 rose by 142.90 points, or 0.63%, ending the day at 22,972.05. The recovery was largely driven by gains in major banking and financial stocks.
Key Gainers and Laggards
Out of the 30 stocks on the BSE Sensex, 21 finished in the green. Axis Bank led the rally, rising 3.96%, followed by strong performances from HDFC Bank, ICICI Bank, Bajaj Finance, and Tata Steel. Sun Pharma was the biggest loser, dropping 4.84%, with other decliners including NTPC, Power Grid Corp., Larsen & Toubro, and Nestle India.
Similarly, on the Nifty50, 27 stocks saw gains, with Axis Bank again leading the way. HDFC Bank, ICICI Bank, Bajaj Finance, and Shriram Finance were also among the top performers. On the downside, Sun Pharma was the biggest laggard, falling by 4.75%, followed by declines in NTPC, BEL, Dr. Reddy’s, and Power Grid Corporation.
Sector Performance: Financials Lead the Charge
The Nifty Financial Services index emerged as the top performer, rising by 2.17%. Other sectors also showed strong growth, including Nifty Bank, which rose by 2.08%, Private Banks up 2.01%, Realty gaining 1.87%, PSU Banks jumping 1.42%, and Auto, which rose by 1.13%.
On the contrary, the Nifty Pharma index saw a significant drop of 2.62%, while the Nifty Healthcare index declined by 2.30%. Other sectors, such as Consumer Durables, FMCG, Metal, and Oil, saw minor losses.
Broader Markets Struggle
In the broader markets, the BSE SmallCap index fell by 2.19%, while the BSE MidCap index declined by 0.51%. Despite the rebound in frontline indices, the broader market struggled to sustain gains.
Also Read: Nifty and Sensex Rebound in Early Trade Despite Global AI Market Fears
Market Experts Weigh In
Market experts noted that while selling pressure continued in the broader markets, the frontline indices saw positive movements, primarily driven by the Banking and Auto sectors. Aditya Gaggar, Director of Progressive Shares, pointed out that although Midcap and Smallcap stocks recovered most of their losses during the day, they couldn’t hold on to the higher levels.
A Strong Recovery After Recent Losses
The market recovery comes after the Sensex and Nifty50 posted significant losses on January 27, with the Sensex losing 824 points, or 1.1%, and the Nifty50 dropping 263 points, or 1.1%, marking the lowest closing levels for both indices since June 6, 2024.
Key Highlights:
- Sensex up by 592.19 points, or 0.79%, closing at 75,958.36.
- Nifty50 gains 142.90 points, or 0.63%, ending at 22,972.05.
- Axis Bank, HDFC Bank, ICICI Bank, and Bajaj Finance were top gainers.
- Sun Pharma was the biggest loser on both indices.
- Banking and Auto sectors led the market recovery.
- Pharma and Healthcare sectors faced notable declines.
