Sensex, Nifty rebound sharply on Sergio Gor's optimistic India-U.S. FTA remarks; Coal India, Tata Steel emerge top gainers
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The Indian benchmark indices rose sharply in the later hours of today’s trade as sentiments reversed after investors tracked renewed optimism around India–U.S. trade talks.
As per analysts, market sentiment improved on supportive global cues, including renewed optimism around India–U.S. trade talks after remarks by the newly appointed U.S. ambassador to New Delhi, Sergio Gor, on continued bilateral engagement and fresh discussions scheduled for tomorrow, January 13.
Sensex rose 301.93 points, or 0.36%, to close at 83,878.17, while Nifty50 gained 106.95 points, or 0.42%, to 25,790.25.
Before sentiment improved and trade-related worries subsided, both benchmarks had been under pressure earlier in the session, with the Sensex falling as much as 715 points and the Nifty momentarily falling below the 25,500-mark.
Coal India, Tata Steel and Asian Paints were the top three gainers in today's trade. Coal India rose by around 3.40%; Tata Steel and Asian Paints also advanced by 2.50% to 2.75%. Other companies that recorded a jump were Hindalco and JSW Steel, which rose by around 2.20%. Trent, which saw a sharp decline after posting flat Q3FY2026 results, saw a rebound and ended 1.24% above its previous closing.
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On the other hand, Infosys, Tata Motors Passenger Vehicles and Bajaj Finance dragged the index down by 1% each.
Sector-wise, the metal index increased by 2%, the PSU Bank index increased by 0.7%, the FMCG index increased by 0.6%, and the capital goods, pharmaceutical, media, and real estate indices decreased by 0.5–1.5%.
“Today, the benchmark indices witnessed a sharp recovery from the lower levels. The Nifty ended 107 points higher, while the Sensex was up by 302 points. Among sectors, the Metal Index outperformed today, rallying over 2 per percent, whereas the Reality and Media indices shed over 1 per percent. Technically, after an early morning intraday sharp selloff, the market took support near 25,500/82,700 and bounced back sharply. From the day's lowest point, the market bounced back over 300/1,200 points, which is largely positive,” said Shrikant Chouhan, Head of Equity Research, Kotak Securities.
As per a note by Bajaj Broking Research, safe-haven assets remained in demand as geopolitical tensions persisted, helping precious metals extend their rally. “The commodities space outperformed, supported by firm metal prices amid supply-side constraints and renewed buying interest.”