Jan 28, 2025 11:16 AM IST
On Monday, Sensex and Nifty settled at 75,366 and 22,829 points, respectively, their lowest tally since June 2024.
Benchmark indices Sensex and Nifty opened in green on Tuesday, after reaching their seven-month lows at close on the previous day, seemingly unaffected by the global market and tech stock slide that China AI app ‘DeepSeek’ caused.
While the 30-share BSE Sensex climbed 382.53 points or 0.51 per cent to 75,748.70 in the morning trade, NSE Nifty advanced 55.90 points or 0.24 per cent to 22,885.05.
Gainers within the Sensex pack in early trade were Infosys, Axis Bank, ICICI Bank, HDFC Bank, Bajaj Finance, Bajaj Finserv, Zomato, HCL Technologies, IndusInd Bank and Tata Consultancy Services.
On the other hand, Sun Pharmaceuticals, NTPC, PowerGrid, Adani Ports, Mahindra & Mahindra, UltraTech Cement, Reliance Industries and ITC, were among the laggards.
On Monday, Sensex plunged 824.29 points to close at 75,366.17, while the broader 50-share Nifty dropped by 263.05 points to close at 22,829.15.
‘RBIs liquidity injection announcement a positive for markets’: Experts
As markets showed signs of recovery after two consecutive days of fall in investors’ wealth, market experts pointed to the announcement by the Reserve Bank of India (RBI) of steps to inject liquidity into the banking system.
“The Indian 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 ₹1.5 trillion is positive for the market,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, told news agency PTI.
“This raises the prospects of a rate cut by the Monetary Policy Committee in the February policy meeting. Banks are likely to benefit,” Vijaykumar added.
On Monday, the RBI, the country’s central bank, announced it will purchase government securities worth ₹60,000 crore in three tranches and announced several other steps to inject liquidity into the banking system.
For this, there will be an Open Market Operations purchase auction of the government of India securities on January 30, February 13, and February 20. On each day, a tranche of ₹20,000 crore will be auctioned, totaling ₹60,000 crore in three days.
The RBI also announced a USD/INR Buy/Sell Swap auction of $5 billion for a tenor of six months to be held on January 31.
Recommended Topics
