Final Trade: Sensex ends 234 points higher, Nifty closes at 23,693

After a volatile session on Monday, the domestic equity market staged a recovery on Tuesday, January 7. The BSE Sensex climbed 234.12 points, or 0.39 per cent, to close at 78,199.11, while the Nifty gained 91.85 points, or 0.39 per cent, to end at 23,707.90.

Small- and mid-cap stocks shine

The broader market witnessed strong buying interest, with the Nifty Smallcap 100 rising 1.35 per cent, the Nifty Midcap 100 gaining 0.89 per cent, and the Nifty Microcap 250 surging 2.22 per cent.

Sectoral performance

The Nifty Oil & Gas index emerged as the top-performing sector, advancing 1.64 per cent. Nifty MidSmall Healthcare followed with a gain of 1.55 per cent, while Nifty Media and Nifty Metal indices added 1.36 per cent and 1.24 per cent, respectively. Other sectors such as Realty, Healthcare, Pharma, PSU Bank, and IT & Telecom registered gains between 0.5 per cent and 1 per cent. However, Nifty IT closed in the red, down 0.68 per cent.

Top gainers and losers

Among the Sensex constituents, Titan, Power Grid, and IndusInd Bank emerged as top gainers, while Zomato, Axis Bank, and M&M saw declines. Zomato, the worst performer, dropped over 4.5 per cent after Jefferies downgraded it to a 'Hold' rating due to increased competition in the quick commerce space.

Expert’s view

Vinod Nair, Head of Research at Geojit Financial Services, said, “The domestic market recovered partially on positive global cues, but concerns over HMPV and cautious sentiment ahead of GDP estimates kept the gains in check. Near-term caution persists amid FII selling and moderated growth expectations.”

Investors now await the corporate earnings season, set to kick off later this week, for cues on market direction.