On Tuesday, the stock market opened positively with both the Sensex and Nifty up after hitting their lowest points in seven months the day before. The 30-share BSE Sensex increased by 382.53 points, or 0.51%, reaching 75,748.70. Meanwhile, the NSE Nifty rose by 55.90 points, or 0.24%, to hit 22,885.05.
Some stocks that did well in this early trading include Infosys, Axis Bank, ICICI Bank, HDFC Bank, Bajaj Finance, and Tata Consultancy Services. On the flip side, some companies like Sun Pharmaceuticals, Reliance Industries, and UltraTech Cement saw their stock prices fall.
On Monday, the market dropped significantly, with the Sensex falling by 824.29 points, closing at 75,366.17, and the Nifty losing 263.05 points to finish at 22,829.15.
Experts are feeling optimistic after the Reserve Bank of India (RBI) announced that it would inject liquidity into the banking system. This means the RBI plans to provide an extra ₹1.5 trillion, which can help boost the market.
“This suggests that the market is ready for a rebound,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. He also mentioned that banks may benefit from these changes, with expectations of a potential interest rate cut in the future.
To support this liquidity boost, the RBI will buy government securities worth ₹60,000 crore through three auctions. Each auction, set for January 30, February 13, and February 20, will provide ₹20,000 crore. Additionally, a $5 billion USD/INR swap auction will also take place.
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