Market Wrap, January 14: Indices rebound after 4 days of decline; SENSEX rises 170 pts, NIFTY50 ends at 23,207.60

After four days of sharp decline, the equity benchmark indices, SENSEX and NIFTY50, bounced back on Tuesday, January 14, on easing retail inflation and a rebound in global markets.

The 30-share BSE benchmark Sensex rose 169.62 points, or 0.22%, to settle at 76,499.63. During the day, it surged 505.6 points, or 0.66%, to 76,835.61.

The NIFTY50 climbed 90.10 points, or 0.39%, to 23,176.05.

Persistent selling by foreign investors and rising global crude prices put pressure on indices and restricted gains, traders said.

The BSE SENSEX has plunged 1,869.1 points, or 2.39%, in the past four trading sessions.

From the 30-share blue-chip pack, Adani Ports jumped over 5%. NTPC, Tata Steel, Bajaj Finserv, Zomato, Bajaj Finance, Tata Motors, State Bank of India, IndusInd Bank, and Maruti were among the other big gainers.

On the other hand, HCLTech, Hindustan Unilever, Titan, Tata Consultancy Services, Infosys, and UltraTech Cement were the laggards.

HCL Technologies slumped over 8% after its December quarter earnings failed to cheer investors.

IT company HCL Tech on Monday reported a 5.54% uptick in consolidated net profit to ₹4,591 crore in the December quarter as the CEO expressed optimism for improvement in the demand environment and discretionary spending and raised the revenue growth guidance.

Retail inflation declined to a four-month low of 5.22% in December, mainly on account of the easing of prices in the food basket, including vegetables—according to government data released on Monday—giving headroom to the Reserve Bank to reduce the key interest rate in upcoming monetary policy reviews.

In Asian markets, Seoul, Shanghai, and Hong Kong settled in positive territory while Tokyo was lower.

Markets in Europe were trading in the green. US markets ended on a mixed note on Monday.

All Adani Group stocks were in heavy demand, with Adani Power surging nearly 20%.

Foreign institutional investors (FIIs) offloaded equities worth ₹4,892.84 crore on Monday.

Global oil benchmark Brent crude climbed 0.12% to $81.11 a barrel.