Closing Bell: Stock Market Gains for the Third Consecutive Day, Sensex Rises by 319 Points; Nifty Crosses 23,300 Mark, Focus on Reliance and Infosys Results

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Closing Bell: For the third back to back day, Indian stock markets rise; Sensex up by 319 points; Nifty moved past the 23,300 mark ahead of Reliance and Infosys results

The Indian stock market witnessed an upswing for the third time in a row on January 16 as almost every sectoral index gained. This increase in March was aided by moderate levels of inflation in the United States a few months ago, which increased the likelihood of a rate cut by the Federal Reserve. Furthermore, sentiments were also aided by the ceasefire between Israel and Hamas.

Sensex and Nifty Analysis

In regards to the 30-share BSE Sensex, on Thursday, it opened around 600 points high at 77,319 and closed at the day’s low of 77,042.82. This translates to an increase of 318.74 points or 42%. During the previous three trading sessions, Sensex has more than recovered 700 points in recovery.

During the first half of the session, the NSE Nifty50 opened at 23,377.25 before moving and closing at 23,311.80 (The Nifty moved with an increase in 98 points or 98% at the end of session).

Top Gainers

Adani Ports was the largest gainer among the Sensex 30 companies. As for the other winners, we noted Bajaj Finserv, Bharti Airtel, SBI, Tata Motors, UltraTech Cement, NTPC, RIL, Maruti Suzuki, Axis Bank, and Tata Steel.

Top Losers

In particular, HCL Technologies, Hindustan Unilever, Zomato, TCS, ITC, Sun Pharma, Nestle India, Asian Paints, Titan, and even Infosys were on the losing end at the close out of all the shares being bought and sold.

Focus on Reliance and Infosys

The third quarter results around the corner, there has been some action with Reliance Industries and Infy’s shares. During this time, heavyweights such Reliance Industries and Axis Bank made approximately 1.1 percent, and to the contrary positive movement is being gained on the Reliance shares, while Infosys is being mopped at a rate of 1.21 percent lower than the market price.

Global market overview

The US lifted the global markets, after a positive reporting on inflation, On Thursday the Japanese issued a Nikkei 225 report which increased by 0.3 and closed at 38,572.60, and an increase of 1.2% was reported on the Hong Kong HANG SENG 19,522.89, while the SHANGHAI registered an improvement of about 0.3% to the 3,236.03 market mark.

Market movement

A movement in the report the NSE and BSE issued on Wednesday was noted. The report showed a rise in Ssensex which reached 0.29% with 224.45 points or 76,724.08 while the Nifty50 made an improvement of 0.16% to 23,213.20 gaining 37.15 points.

Conclusion

The Indian stock exchange continues to build on each gain while combining both internal support with external aid. There exists an expectation from clients in anticipation of the earnings from major companies such as Reliance Industries and Infosys which will significantly impact market behavior in the next days.

Closing Bell: For the third back to back day, Indian stock markets rise; Sensex up by 319 points; Nifty moved past the 23,300 mark ahead of Reliance and Infosys results
Sensex and Nifty Analysis
Top Gainers
Top Losers
Focus on Reliance and Infosys
Global market overview
Market movement
Conclusion