Week Ahead: Q3 Results, FII inflows, global cues among key market triggers as Nifty 50 tests 22,000 this week

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BSE benchmark jumped 542.3 points or 0.75 per cent, and the Nifty 50 climbed 183.75 points or 0.84 per cent. Nifty 50 is now just 100 points away from crossing another milestone of 22,000. The IT index jumped 5.14 per cent, logging its best session since October 8, 2020, to hit a 21-month high.

Market leaders Infosys and Tata Consultancy Services (TCS) emerged as the primary catalysts behind the surge in the Sensex index, concluding as the top contributors. In the previous session, the frontline indices saw strong gains on January 12, primarily driven by the stellar performance of IT giants. Both key indices, along with the mid and smallcap indices hit fresh all-time highs during the session, fueled by an optimistic sentiment following the better-than-expected December quarter earnings of TCS and Infosys.

Also Read: Nifty January series outlook: 4 stocks where investors can park their money; do you own? Sensex hit its fresh all-time high of 72,720.96 during the session before closing the day with a robust gain of 847 points, or 1.18 per cent, at 72,568.45. The Nifty 50 hit its fresh record high of 21,928.25 during the session and closed at 21,894.55, jumping 247 points, or 1.14 per cent. With this, both indices settled at their fresh closing peaks.

BSE Midcap index hit its fresh record high of 37,941.29 during the session. The BSE Smallcap index closed at 44,503.70, with a gain of 0.41 per cent, after hitting its fresh all-time high of 44,644.04 during the session. "Contrary to expectations of weak Q3 results from the IT sector, better-than-expected results along with green shoots of recovery in the IT sector on the back of an improved outlook for BFSI in FY25 positively influenced domestic market sentiments,'' said