Synopsis
On January 16, India’s benchmark stock indices saw an upward trend, with Adani Ports leading among the gainers. The Sensex and Nifty both recorded gains, driven by positive investor sentiment amidst favorable economic news.Key Takeaways
- Adani Ports was a top gainer, closing at Rs 1,151.
- The Sensex and Nifty recorded gains of 0.42 percent.
- The Nifty Bank index rose by 1.08 percent.
- Investor sentiment was bolstered by positive US inflation data.
- Bargain buying was observed in the broader market during corrections.
Mumbai, Jan 16 (NationPress) The domestic benchmark indices in India closed on a positive note on Thursday, with Adani Ports emerging as one of the leading gainers.
The Sensex finished at 77,042.82, gaining 318.74 points or 0.42 percent. Meanwhile, the Nifty settled at 23,311.80, up by 98.60 points, or 0.42 percent.
Adani Ports saw its shares close at Rs 1,151 after an increase of Rs 22.85 or 2.03 percent.
The Nifty Bank index ended at 49,278.70, up by 527 points or 1.08 percent. The Nifty Midcap 100 index closed at 54,483.80, climbing by 584.80 points or 1.09 percent, while the Nifty Smallcap 100 index finished at 17,643.30, adding 289.35 points or 1.67 percent.
Experts noted that the benchmark indices maintained a positive trend, albeit slightly below their highs, spurred by optimistic investor sentiment following mild inflation data from the US, which raised expectations for a potential rate cut from the Federal Reserve.
Furthermore, positive developments regarding the Israel-Hamas ceasefire and a decrease in the trade deficit contributed to the market's upward momentum. However, disappointing economic growth figures from the UK tempered some of this optimism. Despite higher valuations relative to the leading indices, there was a tendency for bargain buying in the broader market following recent corrections.
On the Bombay Stock Exchange (BSE), 2,779 shares finished in the green, while 1,187 shares closed in the red, with 101 shares remaining unchanged.
Within the Sensex pack, top gainers included Adani Ports, SBI, IndusInd Bank, Axis Bank, Tata Motors, Bharti Airtel, Bajaj Finserv, NTPC, Maruti Suzuki, Ultra Tech Cement, and ICICI Bank. Conversely, top losers were HCL Tech, Infosys, Hindustan Unilever Limited, and ITC.
In related news, foreign institutional investors (FIIs) sold equities worth Rs 4,533.49 crore on January 15, whereas domestic institutional investors purchased equities worth Rs 3,682.54 crore on the same day.
