Closing Bell: Amid strong trend from global markets, the domestic stock market registered a rise for the second consecutive trading session on Thursday (January 23). The stock market closed higher today due to the rise in auto, IT, cement and select healthcare stocks. However, weak December quarter results of domestic companies and Donald Trump’s plan to increase tariff duties limited the rally in the market.
The 30-share BSE Sensex opened 10 points higher at 76,414.52 on Thursday. It had fallen to 76,202 points during trading. The Sensex finally closed at 76,520, up 115.39 points or 0.15%.
Similarly, Nifty50 of National Stock Exchange (NSE) also crossed the psychological level of 23,200 and closed at 23,205 with a gain of 50 points or 0.22%.
top gainers
Among Sensex companies, Ultra Cements closed 7 percent higher. Shares of Zomato, Mahindra & Mahindra, Sun Pharma, Tech Mahindra, Tata Motors, Titan, Tata Steel, ITC, Bajaj Finance and Asian Paints were also major gainers.
top losers
On the other hand, Power Grid closed with the biggest decline. Apart from this, Kotak Bank, HCL Tech, Reliance Industries, SBI, Hindustan Unilever, Nestle India, Axis Bank, L&T and TCS closed in the decline.
Reason for the rise in the stock market today?
Domestic stock markets were in gains today due to strong buying in IT, consumer durables and commodity stocks amid a largely positive trend in global markets.
What is the condition of global markets?
In Asian markets, Tokyo and Shanghai closed with gains while Hong Kong and Seoul closed with losses. European markets were trading higher during the mid-session on Thursday. American stock markets closed strongly on Wednesday.
How was the market on Wednesday?
Benchmark stock market indices Sensex and Nifty closed the day higher on Wednesday. Private bank stocks got a boost from HDFC Bank’s third quarter data. Also, the market got support from the rise in IT stocks.
BSE Sensex closed at 76,405 with a gain of 567 points (0.75 percent) and Nifty closed at 23,155 with a gain of 131 points (0.57 percent). However, Nifty Midcap index and Smallcap index fell by 1.34 per cent and 1.63 per cent respectively.