Stock Market Today 29 January 2024: Indian stock market indexes ended with significant gains on Monday following positive cues from Asian peers. Indian equity markets opened a gap-up and extended their early gains as the session progressed and closed near the day’s high.
Heavy buying was witnessed in Reliance Industries, Larsen & Toubro, Ultratech Cement, and Power Grid companies’ stocks helping the markets to maintain their solid gains today. Meanwhile, broader indices were also traded in fine fettle and participated in the rally.
Traders were encouraged as Finance Minister Nirmala Sitharaman said the initiatives of the Customs department like Faceless Assessment and Single Window Clearance need to evolve with the overall objective of growth of trade as every partner needs to collaborate to help India`s GDP surpass $5 trillion by 2027-28.
Stock Market Today
The Nifty 50 index closed higher by 385 points or 1.80 percent and closed at 21737.60 levels while the Sensex jumped 1240.90 points or 1.76 percent and finished at 71941.57 levels. The Bank Nifty index ended higher by 576.20 points or 1.28 percent on the spot level and closed at 45442.35 levels.
The broader markets also closed higher in line with their larger peers today, as the Nifty midcap index was up by 770.40 points or 1.63 percent and closed at 47979.05 levels. The Nifty smallcap index ended higher by 229.15 points or 1.49 percent at 15638.55 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were ONGC, Reliance, Coal India, Adani Enterprise, and Adani Ports and the top losers were Cipla, ITC, LTIM, Infy, and Bajaj Auto
The top gainers in the Nifty midcap index were PFC, Delhivery, and REC Ltd and the top losers were AuBank, Devyani International, and FACT
The smallcap top gainers were IRB, NSLNISP, and SJVN while the top losers were Ceat, Tanla, and PNB Housing.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and ICICI Bank. The most active stocks in terms of volume were ONGC, HDFC Bank, and Tata Steel.
On the sectoral front, barring FMCG all other sectoral indices closed in the green with Energy, PSU Bank, and Auto gaining the most.
Global Stock Market Today
The Asian stock markets mostly closed higher on Monday, as investors focus is on fresh economic data scheduled during the week and the US Fed monetary policy decision on Wednesday. Investors are looking for factory activity data from China, inflation data from Australia, and GDP numbers from Taiwan and Hong Kong.
Evergrande’s shares halted trading on Monday after Hong Kong’s high court ordered the liquidation of the Chinese property developer. Among the major Asian market indexes, Japan’s Nikkei ended higher by 0.77%, while Australia’s S&P ASX 200 index gained 0.30%. South Korea’s Kospi index added 0.88% on Monday. Shanghai closed lower by 0,93%, while Hang Seng advanced by 0.78%.
The Straits Times closed lower by 0.61%, as the central bank left the policy rates unchanged as expected on Monday. Elsewhere, Taiwan, SET, and Jakarta Composite closed higher on Monday.
European stock market indexes are trading mixed after hitting a two-year high last week, as investors are looking for more quarterly earnings, factory activity data, and the central bank’s decision later this week.
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Editorial desk