On January 29, 2025, the Indian stock market extended its rally, with both benchmark indices, the BSE Sensex and NSE Nifty50, closing higher for the second consecutive day. The Sensex surged by 631.55 points, or 0.83%, finishing at 76,532.96 after hitting a high of 76,599.73. The Nifty50 followed suit, rising by 205.85 points, or 0.90%, to close at 23,163.10, after trading within a range of 23,183.35 to 22,976.50.
Market breadth favored the bulls, with 42 of the 51 Nifty50 stocks ending in the green. Shriram Finance, Bharat Electronics, Tata Motors, SBI Life, and Trent were among the top gainers, jumping by up to 3.98%. However, stocks like Bharti Airtel, ITC Hotels, Maruti Suzuki, Britannia, and Asian Paints saw losses, with ITC Hotels facing pressure following its demerger from ITC's other businesses.
The broader markets outperformed the main indices, with the Nifty Smallcap100 index rising by 3.32%, while the Nifty Midcap100 gained 2.31%. On the sectoral front, all indices except FMCG ended in the green. The Nifty IT index led the gains, rising by 2.62%, driven by stocks like Persistent Systems and LTIMindtree. The Nifty Auto, Healthcare, Financial Services, Realty, and Banking indices also ended with solid gains, up by as much as 2.91%.
On the volatility front, the India VIX, which measures market fear, increased by 2.44%, closing at 18.64. Investors continue to closely watch global and domestic cues ahead of major announcements.
