FINAL TRADE: Sensex gains 496 pts, Nifty crosses 21,600; ONGC, NTPC, Bharti Airtel gain up to 4%
Stock market today: Both indices closed about three-quarters of a per cent higher, with the Sensex adding 496.37 points to 71,683.2 and the Nifty soaring 160.2 points to 21,622.4.
Stock market today: Domestic equity benchmarks halted a three-session losing streak on Friday, January 19, driven by strong buying interest across sectors except private banks and media.
The Sensex ended with a gain of 496.4 points, or 0.7 per cent, at 71,683.2 and the Nifty50 settled at 21,622.4, up 160.2 points, or 0.8 per cent, from its previous close.
The Nifty Bank ended largely unchanged from the previous close, at 45,701.2.
Broader indices Nifty Midcap 100 and Smallcap 100 closed with gains of more than one per cent each.
"'Buy on dips' and encouraging global cues propelled the market's recovery. Today’s rebound was broad-based; however, investors are disappointed and expect moderation in the rally. As FIIs persist with a risk-off mood sparked by the likelihood that interest rates may not moderate and domestic earnings growth can slow down as per the initial Q3 results announced. Sectoral rotation is likely to propel going ahead," said Vinod Nair, Head of Research at Geojit Financial Services.
Among the Nifty50 stocks, 43 advanced, with ONGC, NTPC, Bharti Airtel, Tech Mahindra and SBI Life being the top gainers, rising between 2.6 per cent and 3.6 per cent. On the other hand, IndusInd Bank, Kotak Mahindra Bank, HDFC Bank, Adani Ports and Adani Enterprises were the worst-hit among the losers, sliding up to 3.3 per cent.
BUZZING STOCKS
RVNL shares were up over 19 per cent after a rally in all railway stocks. IRCON International closed over 11 per cent higher, IRFC over 9 per cent.
Aarti Industries shares were up over 10 per cent after the company inked an agreement with a multinational conglomerate.
Indiamart Intermesh shares were up over 6 per cent a day after the company posted Q3 results.
Conversely, Metro Brands shares slipped over 2 per cent after it posted operationally weak Q3 results.
IndusInd Bank shares were down nearly 3 per cent a day after the company posted Q3 numbers.
Dixon Tech shares slipped over 3 per cent after the Directorate of Revenue Intelligence (D.R.I.) conducted a search with respect to the classification of the raw material imported for manufacturing of one of the products at the manufacturing facility of one of a subsidiary company in Noida.
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