Mumbai: The BSE Sensex climbed 323.76 points to 75,689.93 in early trade on January 28, 2025. The NSE Nifty went up 77.25 points to 22,906.40. The equity benchmark indices kickstarted teh day in positive due to heavy buying in banking stocks after the Reserve Bank of India announced measures to inject liquidity into the banking system.
Gainers from the Sensex pack: IndusInd Bank, HCL Technologies, Tata Consultancy Services, ICICI Bank, HDFC Bank, Bajaj Finance, Bajaj Finserv, Zomato, Infosys, and Axis Bank. Laggards included, Reliance Industries, ITC, NTPC, PowerGrid, Adani Ports, Mahindra & Mahindra, Sun Pharmaceuticals, and UltraTech Cement.
Stocks in focus today
- Kaynes share price plunged over 18 per cent to Rs 4,299.55
- Suzlon Energy stock declined more than 4 per cent to Rs 42.10.
- Anantraj share price plummeted 20 per cent to Rs 534.50
- Jio Finance share price recorded a marginal dip to trade at Rs 232.65
- Bajaj Housing Finance slipped a bit to Rs 105.47
- Federal Bank share price dropped nearly 6 percent to Rs 180.15
- IDBI Bank share price declined little over 3 percent to Rs 77.81
- IDBI Bank share price gained nearly 3 per cent to Rs 1,261.45
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said the RBI’s announcement of taking steps to inject liquidity into the banking system is good news for the market. In a good news for investors, he said that the Indian stock market appears to be oversold and is set for a rebound.
“The RBI’s announcement of measures to boost liquidity in the banking system by around Rs 1.5 trillion is positive for the market. This raises the prospects of a rate cut by the Monetary Policy Committee (MPC) in the February policy meeting. Banks are likely to benefit,” V K Vijayakumar said.
The Reserve Bank of India on Monday announced that it will purchase government securities worth Rs 60,000 crore in three tranches. It also assured to take several other steps to inject liquidity into the banking system.
Asian markets: Tokyo and Hong Kong traded in the positive territory. South Korea and Shanghai markets observed a holiday today. The US stock markets ended lower in overnight deals on Monday.
“The DeepSeek impact on the US stock market in general, and the tech stocks in particular, has turned out to be a reality check for the overvalued stock market. In the medium term this is likely to have a sobering effect on markets, globally, Vijayakumar added.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 5,015.46 crore on January 27, 2025. International oil benchmark Brent crude went up 0.06 per cent to USD 77.13 a barrel.
On 27 January, the BSE barometer plunged by 824.29 points to end at 75,366.17 while the Nifty declined by 263.05 points to settle at 22,829.15.
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Stock Market Today: The BSE Sensex and NSE Nifty traded in positive on January 28, 2025. Market expert V K Vijayakumar opined that Indian stock market is oversold and rebound is possible now. He also hoped that RBI will announce a repo rate cut which will boost the sentiments of investors. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
