Mumbai (Maharashtra) [India], January 28 (ANI): Indian stock markets opened with gains on Tuesday after the RBI’s injection of liquidity of Rs 1.5 lakh crores boosted investor sentiment.
The Nifty 50 index opened at 22,960.45 points, with a gain of 131.30 points or 0.58 per cent, while the BSE Sensex gained 292.83 points or 0.39 per cent to open at 75,659 points.
A sharp selloff rattled AI and semiconductor stocks globally on Monday, with AI major Nvidia falling as much as 10 per cent. The selloff was triggered by fears of rising competition from Chinese AI start-up DeepSeek.
Ajay Bagga Banking and Market Expert told ANI, “RBIs injection of liquidity of Rs 1.5 lakh crores is a huge sentiment booster today. It raises the probability of a rate cut next week. This is aiding market sentiment today. Banks should rally and help the indices to also stage a partial recovery.”
In the sectoral indices, Nifty Bank surged more than 1 per cent, while Nifty Pharma was down by 1.14 per cent. Except for pharma and FMCG, other indices gained at the time of filing this report.
“While we are not bullish on the stock market in the long term, the current sentiment is at a low point, which should drive a short-term recovery. As for bullion, we remain bullish in the long term but see it as overextended at the moment. Real estate, on the other hand, is near its peak, and we don’t expect significant price increases in the near or long term,” said Amit Goel, Co-Promoter of Value 360, an asset management company.
In the Q3 earnings today, Bajaj Auto, Hindustan Zinc, Hyundai Motor India, Cipla, TVS Motor Company, JSW Energy, CG Power and Industrial Solutions, Bosch, GMR Airports, Colgate-Palmolive (India), SBI Cards & Payment Services, and Suzlon Energy are some of the major companies set to announce their quarter 3 results.
“Nifty has now come to an area where the covid-era rising trendline is about a percent lower so that remains a key marker to note. For today’s session, supports lie in an area spanning 22725 and 22787. The opening bell gap-down from yesterday offers resistance at 23050 and is the immediate hurdle that bulls should overcome on a closing basis for some initial respite. The broader market, represented by the NSE500, now has 9 per cent and 8 per cent of its members trading above the 50- and the 100-day averages, which means the current decline is very mature and the risk of a short-covering based advance is very high,” said Akshay Chinchalkar, Head of Research, Axis Securities.
In other Asian markets, Japan’s Nikkei 225 was down by 0.57 per cent, while Hong Kong’s Hang Seng index gained 0.22 per cent at the time of filing this report. The markets in Taiwan and South Korea remained closed. (ANI)
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