IT Rally Pushes Sensex Higher, Nifty Closes Under 25,700

Indian Stock Market Sees Volatile Session, Closes in the Green

The domestic equities saw a volatile session on January 16, with both the Nifty 50 and Sensex opening on a firm note but eventually closing higher in the green.

Main Market Points:

• Sensex closed 187.64 points, or 0.23 per cent, at 83,570.35.
• Nifty 50 closed 28.75 points, or 0.11 per cent, at 25,694.35.

Broader Market Indices:

• Nifty Midcap 100 closed 0.16 per cent higher.
• Nifty Smallcap 100 ended 0.28 per cent lower.
• Nifty 500 settled flat with a slight positive bias.

Market Expert Analysis:

Ajit Mishra, senior vice president of research at Religare Broking, stated that the market was buoyed by earnings optimism, with mixed global cues keeping investors cautious.

"The earnings upgrade from Infosys helped improve risk appetite and brought some stability after recent uncertainty," Mishra said.

However, he added that concerns over a weaker rupee and ongoing global trade issues remained on traders' radar.

IT Index Leads the Gains:

• The Nifty IT index gained 3.34 per cent.
• The rally was led by a 5.63 per cent surge in Infosys shares after the company raised its FY26 revenue growth guidance.

Largest Losers:

• Eternal (formerly Zomato)
• Jio Financial Services
• Cipla
• Hindalco
• Asian Paints
• Sun Pharma
• ITC
• Maruti Suzuki
• Bharat Electronics
• HDFC Life Insurance

What to Watch Next:

Market participants will be reacting to the Q3FY26 earnings report of as many as 58 BSE-listed companies when trading resumes on January 19.

• Key companies to watch include banking giants HDFC Bank, ICICI Bank, and Reliance Industries.
• Iran's warning to the US regarding potential military action will also be a critical development to monitor.
• The rupee's weakness against the dollar will likely remain a concern for market participants.