After spending most of the day in a sluggish mood, India’s stock market found its footing in the final stretch on Tuesday. Fresh optimism around developments linked to the proposed free trade agreement between India and the European Union helped lift sentiment, pushing the benchmark indices into positive territory by the closing bell.
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On Tuesday, January 27, at the end of trading, the Sensex rose 319.78 points to close at 81,857.48. The Nifty 50 index also registered gains, rising 126.75 points to settle at 25,175.40. The Bank Nifty index showed a strong performance and remained positive throughout the session. It rose 732.35 points to close at 59,205.45. The Nifty Midcap 100 and Nifty Smallcap 100 indices also witnessed gains.
Gainers and losers of the session
On this day, Adani Ports, Tata Steel, Tech Mahindra, Axis Bank, and NTPC delivered strong returns.
Meanwhile, Maruti Suzuki, Mahindra & Mahindra, Eicher, Kotak Mahindra, and Asian Paints ended the session in the red.
Expert view on market movement
According to media reports, Vinod Nair, Research Head at Geojit Investment, said that volatility was observed in the domestic market during the day. However, the market managed to close in positive territory amid optimism surrounding the India-EU trade agreement.
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He noted that due to the trade agreement, India’s auto sector and beverage market may face increased competition. Owing to this concern, stocks from these two sectors witnessed a decline. He also said that investors remain cautious due to concerns around corporate earnings, while closely tracking the US Federal Reserve’s interest rate decision and the upcoming central budget.
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