Benchmark indices Nifty and Sensex sustained their upward momentum on January 20, buoyed by strong gains in public and private sector banks, which emerged as top performers. However, the rally faced some resistance from Nifty FMCG and Auto stocks, which continued in the red, Kotak Mahindra Bank and Wipro were the major stars of the session, pleasantly surprising investors with their Q3 results.

In the broader market, mid- and small-cap indices added to the day’s optimism, rising 1.1 and 0.9 percent, respectively, after starting the session in the red. Despite the day’s gains, both indices remain well below their September highs, with the Midcap index down 12 percent and the Smallcap index shedding 11 percent since their peaks. Individual stocks have seen steeper corrections, with declines of 25-40 percent.

At close, the Sensex was up 454.11 points or 0.59 percent at 77,073.44, and the Nifty was up 141.55 points or 0.61 percent at 23,344.75. About 2,399 shares advanced, 1,492 shares declined, and 160 shares unchanged.