TOP NEWS

Stock Market Wrap: Sensex Rises 454 Points, Nifty Crosses 23,300

Indian stock market

January 20, 2025

New Delhi, India

Markets

Indian stock markets closed higher on Monday, with the Sensex climbing 454 points to 77,073 and the Nifty settling above 23,300 at 23,344. Gains were driven by strong performances in power, telecom, and financial stocks, buoyed by Kotak Mahindra Bank’s stellar Q3 results.

Key Highlights:

  • Top Gainers: Kotak Mahindra Bank (+9.35%), Wipro, Bajaj Finance, NTPC, and Bajaj Finserv.
  • Top Losers: SBI Life (-2.97%), Trent, Shriram Finance, HDFC Life, and TCS.
  • Sectoral Performance:
    • Gains: Private Bank (+2.47%), PSU Bank (+2.28%), Nifty Bank (+1.78%), and Financial Services (+1.47%).
    • Declines: Auto (-0.46%), FMCG, IT, and Healthcare indices.
  • Broader Markets: Nifty Midcap 100 rose 0.51%, while Nifty Smallcap 100 advanced 0.74%.

Kotak Mahindra Bank Drives Sentiment
Kotak Mahindra Bank emerged as the top gainer, rising 9.35%, following robust Q3 results. The bank reported strong growth in loans and deposits, bolstering market confidence.

Telecom Boost
Vodafone Idea surged 10% on reports of potential government relief, including waivers on 50% interest and 100% penalties for AGR dues, sparking optimism in the telecom sector.

Volatility Persists Amid Global and Domestic Concerns
Despite the positive momentum, market volatility remained high due to concerns over the U.S. policy framework under President-elect Donald Trump and signs of a slowdown in Q3FY25 corporate earnings. While Reliance Industries reported an earnings recovery, early results suggest continued challenges for non-financial firms.

Check Latest Market News

Disclaimer:

CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.