Stock Market Today: Nifty, Sensex Extend Rally For Second Day; Shriram Finance, BEL Top Gainers
The Nifty 50 and Sensex ended 0.90% and 0.83% higher, respectively. Get live updates on stock markets here on Jan. 29.
KEY HIGHLIGHTS
Most US Futures Rise
As of 3:29 p.m., the Dow Jones Industrial Average future was 0.10% down. The S&P 500 and Nasdaq 100 future was 0.08% and 0.39% higher, respectively.
Stock Market Today: Nifty, Sensex Extend Rally For Second Day; Shriram Finance, BEL Top Gainers
The Indian equity benchmark indices closed higher for the second day in a row, as Shriram Finance, BEL and Tata Motors among others led gains.
The NSE Nifty 50 ended 205.85 points, or 0.90% up at 23,163.10, and the 30-stock BSE Sensex ended 653.95 points, or 0.86% higher at 76,555.36.
The NSE Nifty Bank also closed higher at 49165.95. The index ended 0.61% up at 299.10.
"After a long duration, Bulls have shown their power right from the word Go; the Index seen compounding its gains which was well supported by the strong performance of Mid and Smallcap stocks. Nifty50 settled the trade at 23,163.10 with gains of 205.85 points," said Aditya Gaggar Director of Progressive Shares.
Except for FMCG, all the other sectors ended in the green territory where Realty and IT emerged as top performers. The positive divergence in the RSI worked well and at present, the Index stands on the brink of a Falling Wedge formation breakout which could drive the Index further up to 23,550 if the breakout occurs between 23,200-23,250, according to Gaggar.
The immediate resistance and support are positioned at 23,270 and 23,000 respectively, he added.
Shares of Infosys, TCS, Tata Motors, Mahindra & Mahindra, Kotak and Mahindra Bank contributed positively to changes in the Nifty 50.
While those of Bharati, ITC, Maruti, Axis Bank and Asian Paints weighed the index.
Eleven out of 12 sectors ended in green, with Nifty Realty, IT, Media, Energy, Metal, Pharma, Auto and Finance gaining the most.
Nifty FMCG was the only sector that saw a decline.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 2.54% and 3.28% higher, respectively.
On BSE, 20 sectors advanced and one declined out of 21. The BSE Industrial rose the most, while the BSE FMCG emerged as the worst performing sectoral index.
Market breadth was skewed in favour of buyers. Around 2,981 stocks advanced, 1,005 stocks declined, and 96 stocks remained unchanged on BSE.
Economic Data Releases And Events For Jan 29
US: Goods Trade Balance — 7:00 p.m.
US: Prelimianry Wholesale Inventories — 7:00 p.m.
US: BOE Governor Andrew Bailey to testify on the Financial Stability Report before the Treasury Select Committee, in London — 7:45 p.m.
US: Energy Information Administration Crude Oil Inventories — 9:00 p.m.
Rupee Ends Weaker Against US Dollar
Rupee weakened by 2 paise to close at 86.55 against the US Dollar.
It closed at 86.53 on Tuesday.
Source: Bloomberg
Market At Close
The NSE Nifty 50 and BSE Sensex rose for second day in a row.
The Nifty 50 and Sensex ended 0.90% and 0.83% higher, respectively.
The NSE Nifty Realty rose the most, while the NSE Nifty FMCG declined the most.
The NSE Nifty Midcap 150 ended 2.43% higher at 19,481.75
The NSE Nifty Smallcap 250 ended 3.16% higher at 15,613.35
