Market benchmarks rebound after two-day decline as Reliance, ICICI Bank rally
The Hindu
Sensex and Nifty rebound as blue-chip stocks surge, despite IT decline and weak rupee, amid global market trends.
Benchmark equity indices Sensex and Nifty rebounded on Tuesday (January 7, 2025) after a sharp decline in the previous two sessions, driven by intense buying in blue-chip stocks like Reliance Industries, ICICI Bank and L&T amid a firm trend in global markets.
However, a decline in IT stocks ahead of the earnings season and a weak rupee against the greenback restricted the market rally, traders said.
The 30-share BSE benchmark Sensex climbed 234.12 points or 0.30% to settle at 78,199.11. During the day, it jumped 487.75 points or 0.62% to 78,452.74.
The NSE Nifty gained 91.85 points or 0.39% to 23,707.90.
From the 30-share blue-chip pack, Tata Motors, Reliance Industries, ICICI Bank, Asian Paints, Nestle India, UltraTech Cement, Larsen & Toubro and Adani Ports were among the biggest gainers.
In contrast, Zomato, HCL Tech, Tata Consultancy Services, Tech Mahindra, Kotak Mahindra Bank and Infosys were among the losers.
In Asian markets, Seoul, Tokyo, and Shanghai settled in positive territory while Hong Kong ended lower.
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