Sensex, Nifty 50 bounce back: FMCG, pharma, IT stocks lead the rally!

The Indian stock market opened in the green on Wednesday, January 22, 2025, marking a positive start for the third time this week. FMCG, pharma, and IT stocks led the rally, recovering from a sharp crash the previous day. At 9:20 am, the BSE Sensex was up by 369.47 points (0.49%), reaching 76,207.83. Similarly, the NSE Nifty gained 94.30 points (0.41%), reaching 23,118.95.

Among the top performers, Sun Pharmaceutical Industries rose the most by 1.37%, trading at ₹1,786. Larsen & Toubro followed with a 1.30% increase, reaching ₹3,582, while Infosys gained 1.10%, reaching ₹1,819.60. Despite the gains, only 9 out of the 30 Sensex stocks were in the red.

Sector-wise, the Nifty FMCG Index saw the biggest rise, up 0.74% to 56,035.90. The Nifty Pharma index rose 0.41%, reaching 21,972.10, and the Nifty IT Index climbed 0.40%, reaching 41,863.75.

The market had faced a sharp downturn the previous day, with the Sensex losing 1,235.08 points (1.60%) and closing at 75,838.36. The Nifty dropped by 320.10 points (1.37%), closing at 23,024.65. The fall was mainly driven by real estate, consumer durables, and mid- and small-cap IT and telecom stocks.

Zomato saw the largest fall, dropping 10.92% to ₹214.65. Adani Ports and Special Economic Zone Ltd followed with a 3.74% decline, closing at ₹1,106.10. NTPC Ltd fell 3.51%, ending at ₹324.25. Only two of the 30 Sensex stocks ended the day in the green: UltraTech Cement (+0.39%) and HCL Technologies (+0.33%).

Among the Nifty sectoral indices, the Nifty Realty index took the biggest hit, falling 4.12% to ₹906.40. The Nifty Consumer Durables index dropped by 4.06%, reaching 38,114.75, and the Nifty Midsmall IT & Telecom index fell 2.66%, closing at 10,399.60.

Stocks from these sectors suffered notable losses. Oberoi Realty (-7.63%), Macrotech Developers (-5.19%), and Prestige Estates Projects (-5.09%) led the Realty Index declines. In the Consumer Durables Index, Dixon Technologies (-13.90%), Kalyan Jewellers (-8.10%), and Amber Enterprises (-7.58%) were the biggest losers. Vodafone Idea (-5.84%), Tejas Networks (-4.92%), and Coforge (-4.42%) saw significant declines in the Midsmall IT & Telecom index.

Despite the previous day’s losses, today’s market trends highlight a recovery led by key sectors, with investors hoping for continued momentum in FMCG, pharma, and IT stocks.