
Stock recommendations for 28 January from MarketSmith India
Subscribe to enjoy similar stories. Indian equity benchmarks concluded Tuesday’s session on a positive note. The Nifty 50 rose 0.51% to settle at 25,175.40, while the Sensex advanced 320 points to close at 81,857.48.
Market sentiment was primarily bolstered by optimism over the imminent signing of the India-EU free trade agreement, along with favorable cues from the US on a potential easing of trade tariffs. Nifty Metal led the charge, surging nearly 3%, with Adani Enterprises and JSW Steel emerging as top performers. The banking sector also provided significant tailwinds, notably from Axis Bank (+5%) following robust quarterly results.
On the other hand, Nifty Auto and FMCG faced selling pressure, with Mahindra & Mahindra dragging after profit-booking. Despite the headline gains, the advance-decline ratio reflected a cautious undertone at 1,901 advances to 2,209 declines, indicating that buying was concentrated in heavyweights. Indian equities closed on a firm note on Tuesday, supported by broad-based buying in select heavyweight sectors even as market breadth remained evenly poised.
The Nifty 50 ended 0.51% higher at 25,175.4, extending its recent uptrend after oscillating in a narrow range for most of the session before a late buying push. The Sensex also settled in positive territory, tracking gains in Financials, Metals, and IT stocks. Nifty Metal outperformed with a sharp 3% gain on improved global cues.
Meanwhile, financials added strength as both private banks and financial services indices rose around 1%. IT stocks also contributed positively amid stable global tech sentiment. On the flip side, FMCG, Auto, and Media stocks saw profit-taking, reflecting selective rotation within defensive and consumption plays.
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