Stock Market Recap: Sensex and Nifty Close Higher Amid Gains in Auto, IT, and Cement Stocks
Market Performance Overview
After a shaky start, Thursday, January 23, 2025, saw benchmark equity indices finish on a positive note, fueled by strong buying interest in auto, IT, cement, and select healthcare stocks.
The BSE Sensex recovered from an early low of 76,202, surging by 543 points to touch an intraday high of 76,743. The index eventually closed at 76,520, marking a gain of 115 points.
Similarly, the Nifty50 saw a day’s low of 23,091 and a high of 23,271, before settling 50 points higher at 23,205.
Top Gainers and Losers
• UltraTech Cement was the standout performer, jumping nearly 7% to reach ₹11,400, following its better-than-expected Q3 earnings. This strong performance also buoyed other cement stocks.
• Other notable gainers included Zomato (+2.5%), Sun Pharma, Mahindra & Mahindra, Tech Mahindra, Tata Motors, Tata Steel, and Titan.
• On the downside, HCL Technologies, Power Grid Corporation, Kotak Bank, Reliance Industries, and SBI each slipped over 1%.
Broader Market Action
• In the broader market, the BSE MidCap index surged 1.8%, while the SmallCap index added 0.7%.
• MidCap IT stocks like CoForge and Persistent Systems were standout performers, each rallying over 10%.
Sectoral Highlights
• Gains were led by the auto, IT, healthcare, and consumer durables sectors, which advanced between 1% and 2%.
• Banking-related indices, however, underperformed, reflecting subdued sentiment in the financial sector.
Market Breadth
The overall market breadth leaned positive, with over 2,100 stocks advancing on the BSE compared to around 1,800 stocks that declined.
Conclusion
Thursday’s session showcased resilience in the equity markets, with notable gains across key sectors and broader indices. The impressive Q3 results from UltraTech Cement lifted investor sentiment, while strong performances in auto and IT stocks further supported the upward momentum. However, banking stocks remained a drag, reflecting mixed sectoral trends.
Disclaimer: The above information is for educational and informational purposes only and should not be construed as financial or investment advice. Please consult with a qualified financial advisor before making any investment decisions.
