Stock market update: Sensex closes 398 points up; Nifty gains 132 points on Jan 22
The stock market saw gains today, January 22nd (Thursday). The Sensex closed 398 points higher at 82,307. The Nifty also rose by 132 points, closing at 25,290. Of the 30 Sensex stocks, 24 saw gains and 6 declined. The banking, auto, media, and metal sectors of the Nifty saw the most significant gains.
The market opened higher in the morning session due to positive signals from global markets. At one point, the Sensex reached a day’s high of 82,783, but by midday, selling pressure began in banking and IT stocks. The Nifty also touched a day’s high of 25,435 before falling back to around 25,250.
Reasons for the market rally:
Positive global cues: Global stock markets saw a recovery and rally, which impacted the Indian market.
Trump’s softer stance on Greenland: US President Donald Trump withdrew his threat to impose tariffs on several countries over Greenland. He spoke of reaching an agreement with NATO on the future of Greenland and announced that the proposed tariffs would not be imposed from February 1st. This eased market concerns.
Trump’s statement on the India-US trade deal: Trump said that he would strike a good deal with India. This statement boosted positive sentiment among investors.
Mixed trading in global markets
In Asian markets, South Korea’s KOSPI closed 0.87% higher at 4,952 and Japan’s Nikkei index rose 1.73% to 53,688.
Hong Kong’s Hang Seng index closed 0.17% higher at 26,629 and China’s Shanghai Composite index rose 0.14% to 4,122. On January 21, the US Dow Jones index closed 1.21% higher at 49,077.23. The Nasdaq Composite also rose by 1.18%, and the S&P 500 gained 1.16%.
