Indian stock market closed in green, fear of HMPV ended
Mumbai: India’s domestic benchmark indices closed with gains on Tuesday amid positive global cues after surveillance increased across the country and more clarity emerged about HMPV. Buying was witnessed in metals, media, energy, commodities, PSU banks, financial services, pharma and FMCG sectors at the close of trading.
The Sensex closed at 78,199.11, up 234.12 points or 0.30 per cent, and the Nifty closed at 23,707.90, up 91.85 points or 0.39 per cent. The Nifty Bank closed at 50,202.15, up 280.15 points or 0.56 per cent. The Nifty Midcap 100 index closed at 56,869.3, up 502.35 points, or 0.89 per cent, while the Nifty Smallcap 100 index closed at 18,673.45, up 248.20 points, or 1.35 per cent.
2,627 stocks ended in the green and 1,356 in the red, while 103 stocks remained unchanged on the Bombay Stock Exchange (BSE). According to market experts, the domestic market recovered somewhat from Monday’s sharp sell-off amid positive global cues suggesting no major concerns over the HMPV. But, the market was trading in a range ahead of crucial estimates for India’s FY25 GDP.
Experts said, “The market is expected to remain cautious in the near term, awaiting signs of earnings recovery during the upcoming results session. At the same time, the ongoing FIIs’ selling will also have to be dealt with, driven by the strengthening of the dollar, rising US bond yields and low expectations of further interest rate cuts.”
On the sectoral front, auto, IT and consumption sectors declined. In the Sensex pack, Tata Motors, ICICI Bank, Asian Paints, Nestle India, UltraTech Cement, L&T, Adani Ports, Tata Steel, IndusInd Bank, Titan, Hindustan Unilever Limited, Sun Pharma and SBI were the top gainers. At the same time, Zomato, HCL Tech, TCS, Tech Mahindra, Kotak Mahindra Bank, Infosys and Bajaj Finserv were the top losers.
Foreign institutional investors (FIIs) sold shares worth Rs 2,575.06 crore on January 6 and domestic institutional investors bought shares worth Rs 5,749.65 crore. Experts said, “As the market is approaching important support and resistance levels, investors are advised to closely monitor the price action and adopt a cautious stance in the coming sessions.”
