Stock Market Closes Higher for Third Consecutive Day, Investors Gain ₹4.54 Lakh Crore
New Delhi, January 16 : The domestic stock market closed on a positive note for the third consecutive day, bringing cheer to investors. The trading session opened with gains, and despite fluctuations due to the tug-of-war between buyers and sellers, both Sensex and Nifty managed to stay in the green throughout the day. By the close of trading, Sensex and Nifty recorded a rise of 0.42%.
The market’s bullish sentiment was primarily driven by strong buying in sectors such as Public Sector Enterprises (PSE), Energy, and Metals. Other sectors like Automobile, Infrastructure, Banking, Capital Goods, Healthcare, and Oil & Gas also closed on a positive note. However, Information Technology (IT), Fast-Moving Consumer Goods (FMCG), Technology, and Consumer Durables sectors faced consistent selling pressure. The broader market also saw significant buying, with the BSE Midcap index rising 0.92% and the Smallcap index ending 1.43% higher.
The market’s upward movement led to an increase of approximately ₹4.54 lakh crore in the wealth of investors. The total market capitalization of companies listed on the Bombay Stock Exchange (BSE) increased to ₹428.85 lakh crore by the end of trading, up from ₹424.31 lakh crore recorded on the previous trading day.
Trading Highlights:
Throughout the session, 4,067 stocks were actively traded on the BSE. Among these, 2,778 stocks closed with gains, 1,188 stocks registered losses, and 101 stocks remained unchanged. On the National Stock Exchange (NSE), 2,511 stocks saw active trading, with 1,891 stocks ending in the green and 620 in the red. In the Sensex, 20 out of 30 stocks closed higher, while in the Nifty, 32 of the 50 stocks recorded gains.
The BSE Sensex opened 595.42 points higher at 77,319.50 and fluctuated during the session, hitting a low of 76,895.51 due to selling pressure. Nevertheless, consistent buying kept the index in the green, and it ultimately closed at 77,042.82, gaining 318.74 points. Similarly, the NSE Nifty began the day with a rise of 164.05 points at 23,377.25 but dipped to 23,272.05 during the session before recovering to close at 23,311.80, up by 98.60 points.
Top Gainers and Losers:
Prominent gainers of the day included HDFC Life (up 7.94%), Bharat Electronics (up 3.10%), SBI Life Insurance (up 2.77%), Shriram Finance (up 2.55%), and ONGC (up 1.94%). On the flip side, the top losers were Trent Limited (down 2.80%), Dr. Reddy’s Laboratories (down 2.58%), Tata Consumer Products (down 1.87%), HCL Technologies (down 1.83%), and Wipro (down 1.57%).
Sectoral Performance:
While sectors like PSE, Energy, and Metals witnessed robust buying, IT, FMCG, and Consumer Durables stocks struggled under selling pressure. The broader market strength was reflected in the performance of the midcap and smallcap indices, which outpaced their large-cap counterparts.
The market’s resilience in the face of global uncertainties and strong domestic demand in various sectors contributed to today’s rally. Investors are expected to watch out for upcoming corporate earnings reports and global economic cues in the coming days.
