Indian stock markets rebounded on Tuesday after a two-day losing streak, supported by mixed global trends. The benchmark indices closed with gains as the BSE Sensex rose 592.19 points, or 0.79%, to end at 75,958.36, while the Nifty50 climbed 142.90 points, or 0.63%, to close at 22,972.05.
On the BSE Sensex, 21 of the 30 stocks ended in positive territory. Axis Bank emerged as the top gainer with a rise of 3.96%, followed by HDFC Bank, ICICI Bank, Bajaj Finance, and Tata Steel. Sun Pharma was the biggest loser on the index, falling by 4.84%. NTPC, Power Grid Corporation, Larsen & Toubro, and Nestle India were among the other stocks that ended lower.
The Nifty50 index saw 27 stocks close higher. Axis Bank maintained its leading position with a 3.96% rise, followed by strong performances by HDFC Bank, ICICI Bank, Bajaj Finance, and Shriram Finance. Sun Pharma, the worst performer on the index, declined by 4.75%, while NTPC, BEL, Dr. Reddy’s Laboratories, and Power Grid Corporation also closed with losses.
According to market experts, selling continued in the broader markets, but the Frontline Index went up, led by the Banking and Auto sectors.
Sectorally, Nifty Financial Services led the performance with a gain of 2.17%. Nifty Bank climbed by 2.08%, while the indices for private banks, realty, PSU banks, and auto also recorded gains. The Nifty IT index registered a modest gain of 0.13%.
The pharmaceutical and healthcare sectors reported losses during the session. The Nifty Pharma index fell by 2.62%, and the Nifty Healthcare index declined by 2.30%. Other sectors, including consumer durables, FMCG, metal, and oil, experienced minor declines.
In the broader markets, the BSE SmallCap index fell by 2.19%, while the BSE MidCap index declined by 0.51%.
On January 27, the indices recorded a decline with the Sensex dropping 824 points, or 1.1%, to close at 75,366, and the Nifty50 falling 263 points, or 1.1%, to end at 22,829. This marked the lowest closing levels for both indices since June 6 last year.
-IANS
