Sensex rises 234 pts amid rangebound trade, Nifty at 23,708

The Indian equity benchmarks rebounded after a decline in the previous session, closing higher on Tuesday as buying interest emerged across most sectors, with IT stocks being the only drag. At close, the Sensex was up 234.12 points or 0.30 percent at 78,199.11, and the Nifty was up 91.85 points or 0.39 percent at 23,707.90.
The broader market outperformed, with the Nifty Midcap and Smallcap indices gaining nearly 1%, highlighting investor optimism in the mid- and small-cap space.ONGC, SBI Life Insurance, Tata Motors, HDFC Life, Reliance Industries were the top gainers on the Nifty, while losers included HCL Tech, TCS, Eicher Motors, Hero MotoCorp, Trent.
On the sectoral front,except IT, all other sectoral indices ended in the green with oil & gas, realty, energy, bank, metal and pharma up 0.5-1 percent.BSE midcap index rose 0.7 percent and the BSE smallcap index added 1.7 percent.
Rupee Close:
On 7 Jan'25,the Indian rupee ended 10 paise higher at 85.72 against the US dollar on Tuesday, according to information.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,amid positive global cues indicating no major concerns regarding HMPV, the domestic market partially recovered from Monday's sharp sell-off but traded within a range ahead of the critical first advance estimates for India's FY25 GDP. This comes in the context of moderated growth expectations, as the RBI recently revised its growth projection downwards.
In the near term, the market is expected to remain cautious, awaiting signs of earnings recovery during the upcoming result season, while also dealing with ongoing FII selling which is driven by the strengthening dollar, rising US bond yields, and reduced expectations of further rate cuts.
Market experts have recommended five stocks to buy - PG Electroplast Ltd., Shaily Engineering Plastics Ltd., Central Depository Services Ltd., RBL Bank Ltd., and Concord Biotech Ltd.

(Business Correspondent)