Indian Stock Market: A strong rally in banking and metal stocks has propelled the Indian markets to close higher at the end of Monday's session (January 20). Apart from the strong earnings reported by Kotak Mahindra Bank and IT major Wipro, positive global cues also supported the bulls during the session.

Stock Market LIVE Updates | The markets remained in a consolidation phase, dropping almost one percent as the corrective trend continued last week. Ongoing selling by FIIs, mixed corporate earnings, and a significant increase in crude oil prices negatively affected investor sentiment.

While volatility on Dalal Street rose during the trading session, gains in major shares such as Kotak Mahindra Bank, Wipro, Bajaj Finance, Bajaj Finserv, SBI and Reliance Industries contributed to the market gains.

Benchmark indices Nifty and Sensex opened higher on January 20, fueled by gains in Kotak Mahindra Bank and Wipro, which lifted sentiment in the banking and IT sectors. However, weakness in the auto and metal sectors limited the rally.

The BSE Sensex stood at 604.54 points or 0.79 per cent to 77,223.87. Nifty stood at 23,335.35, up 132.15 points or 0.57 per cent.

Indian stock markets declined due to drops in IT and banking stocks, with Infosys and Axis Bank reporting disappointing results. Other factors include concerns over US policy changes ahead of Donald Trump's inauguration,

Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Monday. While BSE Sensex was near 76,800, Nifty50 was above 23,200.

Investors were also keeping high hopes from quarterly earnings of heavyweights Reliance Industries Ltd, Infosys Ltd and Axis Bank Ltd scheduled for later in the day.