Stock market today: RIL, HDFC Bank drive Nifty 50, Sensex higher for 3rd day; PSU stocks hog limelight | Stock Market News
Stock Market Today: Indian markets maintained their winning streak for the third consecutive trading session on Thursday, January 16, as strong support from heavyweight stocks such as Reliance Industries, HDFC Bank, and Bharti Airtel kept the momentum going.
Additionally, the stock comeback from real estate and pharma sectors also supported the markets in staying higher, while IT stocks saw some profit booking following a healthy rally in recent sessions.
Despite the US Fed pausing its rate-cutting cycle in its January meeting, following three straight cuts since September 2024, Fed Chair Jerome Powell suggested during the post-meeting press conference that progress toward controlling inflation was being made, signaling that there may still be room for future rate cuts.
The Nifty 50 ended the session with a gain of 0.37% at 23,249, while the Sensex closed at 76,759, marking a 0.30% increase from the previous close. The Nifty Smallcap 100 index rose 0.12% to 16,560, while the Nifty Midcap 100 index concluded the day with a gain of 1.08%, closing at 54,483.
