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Sensex and Nifty 50 reverse losses from previous sessions led by gains in IT shares

Sensex and Nifty 50 reverse losses from previous sessions led by gains in IT shares

Sensex and Nifty 50 reverse losses from previous sessions led by gains in IT shares
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By Asmita Pant  Jan 23, 2023 4:06:53 PM IST (Published)

IT and financial shares ended higher while construction shares ended in the red. Nifty Midcap 100 ended 0.6 percent higher, and Nifty Smallcap 100 ended nearly flat.

Indian equity benchmarks NSE Nifty 50 and BSE Sensex ended Monday's session higher as market regains losses of the last two sessions. IT and financial shares ended higher while construction shares ended in the red. Nifty Midcap 100 ended 0.6 percent higher, and Nifty Smallcap 100 ended nearly flat.

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The Sensex rose 491.5 points or 0.8 percent to 61,113.3, before ending at 60,941.7. The Nifty50 moved within a range of 18,063.5 - 18,162.6 in intraday trade before ending 0.5 percent higher at 18,118.6. Nifty Bank ended 314.4 points or 0.7 percent higher at 42,821.3.
A total of 32 stocks in the Nifty50 basket finished in the green, with Sun Pharma, HUL, Eicher Motors, UPL and Tech Mahindra being the top gainers.
Torrent Power, Coforge, Delhivery, Persistent and Tata Elxsi led the Nifty Midcap index higher.
On the other hand, UltraTech, Grasim, NTPC, Tata Steel and JSW Steel were the top Nifty 50 losers.
"Market breadth tilted in favour of bulls lifted by financial stocks, amid positive cues from global peers. Strong corporate earnings reported by banks boosted appetite for financial stocks. Positive global markets owing to possibility of a less aggressive rate hike, further added colour," said Vinod Nair, Head of Research at Geojit Financial Services.
Overall market breadth favoured the decline at close, as 1,666 stocks rose while 1,977 fell on BSE.
Rupee ended 27 paise lower from previous close at 81.39 vs US dollar.
Global markets
European markets traded weak on Monday, amid global economic concerns. Stoxx 600 index was last trading flat at 452.3.
S&P 500 futures were trading 0.1 percent lower, suggesting a flat to negative start on Wall Street. Wall Street ended higher on Friday.
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