Mumbai (Maharashtra) [India], January 23 : Stock markets closed with marginal gains on Thursday after a day of fluctuating performance.
The Sensex rose 156.70 points, ending at 76,561.69, while the Nifty advanced by 60.90 points, settling at 23,216.25. The indices, which started the day on a negative note, managed to recover some ground by the end of the trading session.
The markets opened in the red, with the Sensex falling 175.15 points to 76,229.84 and the Nifty dropping 51.20 points to 23,104.15 at the start.
Weak global cues and broader economic concerns weighed on investor sentiment in early trading. The initial market breadth was predominantly negative, with 40 Nifty stocks declining, 10 advancing, and 1 remaining unchanged, reflecting a bearish mood.
By the end of the session, however, market sentiment improved, with 30 Nifty companies closing in the green, 2 in the red, and 1 unchanged.
Leading the gains were UltraTech Cement, Grasim, Wipro, Shriram Finance, and Sun Pharma, which posted notable advances. On the flip side, BPCL, Kotak Bank, HCL Tech, SBI, and Reliance emerged as the top losers, underscoring the mixed investor sentiment.
Despite the lackluster start, the recovery in midcap and smallcap stocks helped turn the tide. The IT and cement sectors saw renewed investor interest, with mid-sized IT stocks performing particularly well.
Commenting on the market dynamics, Shriram Subramanian, Founder and MD of InGovern Research Services said that today's market was a mixed bag with indices being tepid. "However, many midcap and smallcap stocks rallied. Notable, mid size IT stocks shot up given the expectations that the US economy will be doing well under Trump."
The markets' marginal gains reflect cautious optimism among investors as they navigate ongoing global and domestic economic uncertainties.
While the strong performance of midcaps and smallcaps provided a silver lining, the broader indices remain sensitive to external factors and sectoral trends.
As traders and investors await clarity on key economic policies and global developments, selective and sector-focused investments are likely to dominate the coming sessions.
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