Today Stock Market Report jan 16, Sensex Records a 759-Point Surge, Nifty Approaches 22,100; Notable Performance in IT Stocks, Wipro Registers a 6% Gain.

Market Highlights and Trends

In the latest stock update, Today Stock Market Report jan 16, Wipro led the gains on the 30-share Sensex, soaring 14% intraday and closing 6% higher. Other notable performers included HCLTech, Infosys, Airtel, TechM, and HDFC Bank. This surge contributed to the fifth consecutive session of higher closes for the Sensex and Nifty, with both benchmarks reaching fresh record highs. The S&P BSE Sensex achieved a historic high of 73,402 after crossing the 73,000-mark for the first time, closing at 73,328, up 759 points. Similarly, the NSE Nifty50 crossed the 22,000-mark intraday, concluding the day at 22,097, up 203 points.

On the downside, Bajaj twins, L&T, Tata Motors, Tata Steel, Asian Paints, and Axis Bank experienced losses. In the broader market, the BSE Midcap and BSE Smallcap settled 0.67% and 0.11% higher, respectively. Sector-wise, all indices ended in the green, except for the metal sector. The Nifty IT index gained 2%, followed by up to a 1% rally in the Nifty Pharma, PSU Bank, and Bank indices.

The market saw 1,787 advancing shares, 1,609 declining shares, and 78 unchanged shares. In the global market scenario, Seoul, Tokyo, and Shanghai settled positively, while Hong Kong ended marginally lower. European markets were mostly trading lower, and the US markets closed on a muted note on Friday.

Brent crude, the global oil benchmark, declined by 0.29% to $78.06 per barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs 340.05 crore on Friday, as per exchange data.

On the currency front, the rupee strengthened for the ninth consecutive session, gaining 6 paise to settle at 82.89 (provisional) against the US dollar on Monday. This upward trend was driven by a rally in the domestic equity markets. The rupee opened at 82.82, fluctuated between 82.77 and 82.91 during intra-day deals, and finally settled at 82.89 (provisional) against the dollar. This marks a gain of 6 paise over its previous close, consistent with the bullish trend in domestic equities. On Friday, the rupee had settled at 82.95 against the US dollar.

Disclaimer: Today Stock Market Report jan 16

The following information is based on available data and market conditions as of the provided date. Financial markets are subject to rapid changes, and the content may not reflect the current situation. Readers are advised to conduct thorough research and seek professional advice before making any investment decisions.

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