Positive Global Cues Drive Marginal Gains in Indian Indices on January 20

20 Jan 2024 , 01:22 PM

On January 20, the benchmark indices in India experienced marginal gains, influenced by favorable global cues. 

At 1 PM, the Sensex exhibited a rise of 58.87 points or 0.08%, reaching 71,742.10, while the Nifty recorded an increase of 27.70 points or 0.13%, reaching 21,650.10. Market activity saw 1868 shares advancing, 1357 shares declining, and 51 shares remaining unchanged.

The positive momentum in both Sensex and Nifty was initiated by strong performances in banks and auto stocks, coupled with optimistic signals from global markets. Investor attention was drawn to key earnings reports, including those from Mukesh Ambani-led Reliance Industries and FMCG major HUL, released the previous evening. Notably, the spotlight for the day was on upcoming financial results from ICICI Bank and Kotak Bank.

Leading the gainers on the Nifty were Coal India, Kotak Mahindra Bank, Power Grid, Britannia, and Apollo Hospitals. Conversely, the top losers included HUL, TCS, Indusind Bank, Nestle, and Wipro.

In the broader market, BSE Midcap and Smallcap indices both exhibited a 0.5% increase. Specific sectoral indices displayed mixed performance, with the Bank, Metal, and Power indices witnessing a 0.5% uptick each, while the FMCG and Realty sectors experienced a 0.5% decline each.