Sensex and Nifty closed higher on January 22 after a volatile session, rebounding from seven-month lows, led by gains in technology stocks.
Broader market indices underperformed, with midcap and smallcap indices declining over 1%.
Sectoral performance was largely negative, with only a few indices showing strength. Nifty IT, Nifty Pharma, and Bank Nifty posted stable gains, while Nifty Realty was the biggest laggard, falling 4%.
Realty stocks like Oberoi Realty, Macrotech Developers (Lodha), and Godrej Properties have declined 20%-23% over the past month. Other weak sectors included Nifty FMCG and Nifty Metal, contributing to broader market weakness.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY IT
2.1
NIFTY PRIVATE BANK
0.4
NIFTY PHARMA
0.7
NIFTY BANK
0.3
NIFTY HEALTHCARE INDEX
0.5
NIFTY FMCG
-0.1
NIFTY FINANCIAL SERVICES
0.5
NIFTY AUTO
-0.1
Top News
Tata Technologies fell nearly 3% to a 52-week low after posting a slight YoY decline in Q3 net profit, though sequential growth remained positive.
India Cements plunged 13% as Q3 losses widened sharply to ₹428 crore, driven by weaker revenue and an exceptional loss of ₹190 crore.
Nifty Realty dropped nearly 5%, with Macrotech Developers, DLF, and Oberoi Realty falling 3-6% amid sectoral weakness.
BPCL board OK’s Rs. 1000 crore Maharashtra Natural Gas IPO
Coating emulsions and adhesives maker Jesons Industries plans IPO
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
22,800
23,500
Bank Nifty
48,000
50,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
WIPRO
3.9
BEL
-3.0
INFY
3.0
TATAMOTORS
-2.2
TCS
2.9
TRENT
-2.0
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