Indian markets escape 'DeepSeek' rout, Sensex up 535 pts

The Indian markets escaped a DeepSeek rout and snapped a two-day losing streak, rising 0.5 percent on Tuesday, with strong performances in auto, realty, and financials. At close, the Sensex was up 535.24 points or 0.71 percent at 75,901.41, and the Nifty was up 128.10 points or 0.56 percent at 22,957.25.
Axis Bank, HDFC Bank, Bajaj Finserv, Shriram Finance, Bajaj Finance were the top gainers on the Nifty, while losers included Sun Pharma, Britannia Industries, Eicher Motors, Grasim Industries, L&T.On the sectoral front,auto, bank, realty indices rose 1-2 percent, while capital goods, power, metal, oil & gas, FMCG, healthcare and IT down 0.5-1 percent. BSE Midcap index shed 0.6 percent, while smallcap index fell 1.7 percent.
Rupee Close: 
On 28 Jan'25,the Indian rupee depreciated 25 paise to close at 86.56  against the US dollar on Tuesday, as global risk sentiments were dampened amid tariff threats by the US President Donald Trump.Forex traders reportedly stated the rupee continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market amid unabated dollar demand from oil importers and weak risk appetite.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the national benchmark indices demonstrated optimism today, primarily driven by gains in the banking sector following the RBI's announcement of open market interventions to address liquidity concerns. Large-cap stocks outperformed, as their valuations have now reached fair levels and are further supported by expectations that the market correction is nearing its bottom. In contrast, mid- and small-cap stocks continued to decline, as they remain overvalued. However, volatility is expected to remain elevated in the near-term in anticipation of the upcoming Union Budget, the FOMC meeting, and the F&O expiry.
Market experts have recommended five shares to buy-Niva Bupa Health Insurance, South Indian Bank, Canara Bank, IOB, and Medico Remedies.

(Business Correspondent)