After opening the day higher, Indian benchmark indices gained as the session progressed and ended the day higher.Benchmark equity indices, the BSE Sensex and NSE Nifty50, extended gains for the second consecutive session to settle in the green on Wednesday.At the closing bell, the BSE Sensex stood higher by 632 points (up 0.8%).Meanwhile, the NSE Nifty closed higher by 206 points (up 0.9%).Tata Motors, Wipro, and Shriram Finance are among the top gainers today.Maruti Suzuki, ITC, and Britannia on the other hand, were among the top losers today.The GIFT Nifty was trading at 23,166 up by 192 points at the time of writing.The BSE MidCap index ended 2.5% lower andthe  BSE SmallCap index ended 3.3% lower.Barring the FMCG sector, all other sectoral indices were trading mixed with stocks in the IT sector, capital goods sector, and realty sector witnessing the most buying speer.The rupee is trading at 86.55 against the US$.Gold prices for the latest contract on MCX are trading marginally higher at Rs 80,990 per 10 grams.Meanwhile, silver prices were trading flat at Rs 91,090 per 1 kg.Here are the three key factors driving the market’s momentum:#1 Positive Global CuesTechnology stocks led the gains in Asian markets, following a strong rebound in US equities. US stocks ended higher overnight, with AI-linked tech shares, including Nvidia, making a notable recovery. The Nasdaq surged by 2%, while Nvidia bounced back by 8.9% after its sharp decline, which had wiped out $593 billion from its market value. The S&P 500 also posted its largest daily gain since July 31, climbing 3.6%.#2 Broader Market RallyMid- and small-cap stocks gained investor attention following a recent correction. The Nifty Midcap 100 and Smallcap 100 indices saw significant buying, rising 1.98% and 2.5%, respectively, as valuations appeared attractive. Inox Wind, Suzlon Energy, and CG Power & Industrial Solutions were among the top gainers in these segments.#3 Fed OptimismThe US Federal Reserve is expected to maintain its benchmark interest rate in the range of 4.25 – 4.50% following its two-day policy meeting, with an announcement anticipated around 11:30 PM (IST) tonight.
 Nifty IT Surges 2.5%In news from the IT sector, the Nifty IT index bounced back with a 2.5% surge on 29 January, ending a two-day losing streak as global tech stocks made a strong comeback.A significant rebound in Nvidia and AI-related stocks boosted the Nasdaq by 2%, with Nvidia recovering 9% after its historic US$ 5.9 bn single-session drop. Apple also gained nearly 4% as investors awaited earnings reports from major tech companies this week.Technology stocks led the gains in the Asia-Pacific region, following Wall Street’s advances, as investor concerns eased over the rise of a low-cost Chinese AI model, DeepSeek, which some believe could challenge U.S. dominance in the sector.The Nifty IT index held steady, with all 10 constituents rising 1-5%, driven by gains in Infosys, TCS, and Persistent Systems. This positive movement came after a slower January, during which the index had dropped more than 1%, following strong returns in November and December.
 RailTel Shares ReboundMoving on to news from the telecom sector, RailTel Corporation of India’s shares bounced back with a 4% increase on 29 January, recovering from a dip following a weaker-than-expected Q3FY25 performance.The stock is currently trading at Rs 366.35 per share, up by 4.3%.The rebound comes after RailTel secured a significant order from M/s Navodaya Vidyalaya Samiti for the procurement and maintenance of IT infrastructure projects.The order is valued at over Rs 170 m, including taxes, with an expected completion date of 27 July 2025.For the quarter ending December 2024, RailTel reported a decline in its EBITDA margin, which fell to 15.8% from 19.4% in the same quarter last year.This dip in profitability was mainly due to increased expenses, including higher license fees to the Department of Telecommunications and rising project costs.However, the company posted a 5% year-on-year (YoY) increase in net profit, reaching Rs 650 m, up from Rs 621 m in the previous year. Revenue for the quarter stood at Rs 7.7 bn, reflecting a 14.8% YoY growth from Rs 6.7 bn in Q3 FY24.AGI Greenpac Drops 19%. Here’s whyIn the packaging sector, AGI Greenpac shares fell by as much as 19% on Wednesday, January 29, following the Supreme Court’s rejection of the company’s resolution plan for Hindusthan National Glass & Industries.The Supreme Court dismissed AGI Greenpac’s resolution plan for Hindusthan National Glass, which was already undergoing corporate insolvency proceedings. This decision came after the Kolkata National Company Law Tribunal (NCLT) had passed the related order in October 2021.AGI Greenpac’s resolution plan was valued at Rs 22.1 billion and was approved by 98% of the Committee of Creditors of Hindusthan National Glass in October 2022.More By This Author:Sensex Today Trades Higher; Nifty Above 23,000
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