After opening the day higher, Indian benchmark indices gained as the session progressed and ended the day higher.

Indian benchmark equity indices BSE Sensex and Nifty50 were trading higher on Tuesday, amid mixed global cues.

At the closing bell, the BSE Sensex stood higher by 535 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 147 points (up 0.6%).

Axis Bank, Cipla, and Bajaj Finance are among the top gainers today.

Sun Pharma, NTPC, and Britannia on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,984 up by 174 points at the time of writing.

The BSE MidCap index ended 0.7% lower andthe  BSE SmallCap index ended 1.7% lower.

Sectoral indices were trading mixed with stocks in the finance sector, banking sector, and realty sector witnessing the most buying speer. Meanwhile, stocks in the capital goods sector and power sector witnessed selling pressure.

The rupee is trading at 86.54 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 79,849 per 10 grams.

Meanwhile, silver prices were trading 0.2% higher at Rs 90,397 per 1 kg.

Here are the three key factors that drive the market's momentum.

#1 Banking Stocks Rally

Banking stocks emerged as the top gainers after the RBI announced liquidity-boosting measures. Nifty Bank rose 2%, with private lenders like HDFC Bank, Axis Bank, and ICICI Bank among the top gainers. Rate-sensitive stocks, including LIC Housing Finance, Bajaj Finance, and Mahindra & Mahindra Financial Services, also gained between 1.5 - 4%.

#2 Recovery from DeepSeek Fears

The global markets were jolted on Monday after China launched its DeepSeek R1 AI model, sparking a sell-off in technology stocks. The S&P 500 fell 1.5 percent, while the tech-heavy Nasdaq 100 plunged 3 percent, driven by concerns over the potential challenge to Nividia's dominance in the AI space.

#3 Rebound in Oversold Market

After two sessions of losses, experts expected the market to rebound. Most experts believe that the recent fall in the Indian stock market is an opportunity to buy quality stocks due to the long-term structural growth story of the Indian economy.
 

Apar Industries Crash 20%. Here's Why

In news from the engineering sector, Apar Industries witnessed a sharp 20% decline in its share price on Tuesday, 28 January, following a significant drop in net profit for the quarter ending 31 December 2024.

Apar Industries released its Q3 results for F25 on Tuesday, 28 January, revealing a mixed performance.

The company reported a 17.7% increase in revenue, reaching Rs 47,160 million (m) for the quarter. However, net profit fell by nearly 20% year-on-year, settling at Rs 1,750 m.

The company's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) also saw a decline of 12% YoY, coming in at Rs 3,554 m. The EBITDA margin contracted by 250 basis points, dropping from 10% last year to 7.5% this quarter.

While Apar's domestic business demonstrated strong growth, rising by 31.8% YoY, the overall performance was overshadowed by the decline in profitability and margins.

The fall in margins came as a result of unfavorable competitive prices from China and lower demand on the export front.
 

TVS Motors Q3 Results

Moving on to news from the auto sector, TVS Motor Company reported a steady performance for the third quarter of FY25. The company's net profit increased by 4.2% year-on-year to Rs 6.18 billion (bn) during the quarter, driven by higher sales volumes and improved operational efficiency.

Revenue from operations rose by 10% year-on-year to Rs 90.97 bn, compared to Rs 82.45 bn in the same quarter of the previous year, reflecting sustained demand across its product portfolio.

TVS Motor's share price extended its gains following the Q3 results release, rising more than 5% to trade at Rs 2,348 on the NSE.

The company's operating EBITDA grew by a strong 17% year-on-year to Rs 10.81 billion, compared to Rs 9.24 billion in Q3 FY24. As a result, the EBITDA margin improved to 11.9%, up from 11.2% in the same period last year, marking the highest margin achieved by the company to date.

Swiggy Shares Slip Below IPO Price

Moving on to news from the e-commerce sector, Swiggy's shares dropped nearly 4% on Tuesday, 28 January, extending their losses over the past three sessions.

This decline brought the stock to a 52-week low of Rs 389.05 per share, dipping below its IPO price of Rs 390 per share.

The shares are now trading under their listing price. Swiggy made its debut on the National Stock Exchange (NSE) on November 13, listing at Rs 420 per share, reflecting a 7.7% premium over the IPO price. On the Bombay Stock Exchange (BSE), the listing price was Rs 412 per share, indicating a 5.6% premium.

The stock initially surged, rising as much as 32% to Rs 617 per share.

However, recent sentiment has been impacted following Zomato's December quarter results for FY25.

Zomato reported sluggish growth in its core food delivery business and announced a 57% drop in net profit compared to the same quarter of the previous year, weighing on investor sentiment in the sector.

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