Stock recommendations for 23 January from MarketSmith India
Subscribe to enjoy similar stories. Stock market recap: Indian equity benchmarks staged a robust recovery on Thursday, snapping a three-day losing streak as global risk-on sentiment resurfaced. Nifty 50 advanced 0.53% to settle at 25,289.90, while Sensex climbed nearly 400 points, fueled by a sharp de-escalation in global trade concerns.
Market breadth was decisively positive, recording a strong overall advance-decline ratio of 2,344 stocks advancing against 849 declines. Nifty Media (+2.39%) and PSU Banks (+2.34%) were the major gainers, alongside healthy buying in Pharma and Metals. This relief rally was primarily anchored by US President Trump’s softened stance on European tariffs and renewed optimism regarding a potential bilateral India-US trade agreement.
Furthermore, stellar Q3 earnings from Eternal Ltd and Waaree Energies provided a significant domestic catalyst. Two stock recommendations by MarketSmith India: Buy: Equitas Small Finance Bank Limited (current price: ₹70) Buy: Canara Bank (current price: ₹154.5) Nifty 50 recap Indian equities ended the session on a firm footing, extending recent gains amid broad-based buying interest. Nifty 50 settled at 25,289.90, gaining 132.4 points or 0.53%, after oscillating within a 25,168–25,436 range.
The index recovered smartly from intraday lows, reflecting sustained dip-buying support, while holding above its short-term support zone near 25,150. Immediate resistance is seen at around 25,450. Sensex closed higher in tandem, underscoring positive market breadth.
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