Market snaps 3-day losing streak as Sensex rises 398 points, Nifty closes above 25,250

The equity benchmark indices BSE Sensex and NSE Nifty snapped a three-day losing streak on Thursday (January 22), with all major indices closing in the green amid broad-based buying across sectors and stocks. Broader markets outperformed frontline indices, while market breadth remained firmly in favour of advances.

The Sensex rose 398 points to close at 82,307, while the Nifty added 132 points to settle at 25,290, ending above the 25,250 mark. Nearly 40 Nifty stocks closed higher during the session. The Nifty Bank index gained 400 points to 59,200, and the Midcap index climbed 768 points to 58,191, reflecting strong participation beyond large-cap stocks.

Sectorally, most indices ended higher, with gains seen across financials, metals, energy and IT. Consumer durables and realty were the only sectoral indices that closed in the red. The NSE advance-decline ratio stood at 3:1, indicating a clear tilt towards advancing stocks.

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From the Sensex basket, Dr Reddy's Laboratories Ltd, Bharat Electronics Ltd, Adani Enterprises Ltd, Adani Ports & Special Economic Zone Ltd, Tata Steel Ltd and Hindustan Aeronautics Ltd were the major gainers. SBI Life Insurance Company Ltd, Titan Company Ltd, Max Healthcare Institute Ltd, ICICI Bank Ltd and Reliance Industries Ltd

were the biggest laggards.

Dr Reddy’s Laboratories emerged as the top gainer on the Nifty, rising over 5% after reporting strong Q3 results. Waaree Energies jumped nearly 10% following strong commentary on EBITDA guidance. Bajaj Consumer hit a 20% upper circuit, while Rallis India surged 17% after posting strong Q3 results.

On the downside, Eternal was the top Nifty loser, falling 10% from the highs after the resignation of its CEO. Hindustan Zinc and Hindustan Copper slid 4% each as silver prices declined and exchange-traded funds linked to the metal saw selling pressure. Kalyan Jewellers extended its losing streak to a tenth consecutive session, falling 6% in today’s trade.

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In the midcap space, Bank of India emerged as the top gainer, rising 6% after its Q3 results. Indian Bank gained over 6% after reporting improved slippages and double-digit business growth.

On the other hand, IIFL Finance plunged 14% after the Income Tax Department ordered a special audit, which the company described as procedural. PNB Housing Finance slid 7% as net interest income missed estimates and credit cost remained negative. KEI Industries fell over 2% after reporting Q3 results below estimates.