All thanks to the strong support from the heavyweights, especially Reliance Industries, which helped prevent the front indices from posting another significant drop during Wednesday’s trading session, January 8.

The entire pack of oil and gas stocks shone brightly in today’s session amid rising crude oil prices, driving expectations that higher crude prices will boost the margins of these companies. Furthermore, the support from the IT pack and rebound in the ITC shares have helped the indices to recover from early losses to end the session on a flat note. 

However, the broader market failed to extend their winning rally in today’s session as the strong selling pressure propelled them to conclude the session with deep cuts. 

The Nifty 50 concluded the session with a minor drop of 0.08%, closing at 23,688. From the day’s low, the index recovered 192 points, or 0.81%. Likewise, the Sensex rebounded 666 points, or 0.86%, from the day’s low to end the session with a mild cut of 0.06%. 

Mid- and small-cap stocks witnessed heavy selling pressure in trade, with the Nifty Smallcap 100 index ending the session with a deep cut of 1.65%, ending at 18,365, while the Nifty Midcap 100 index finished the session with a drop of 1.05%, closing at 56,270 level.