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.

The broader market continues to exert its dominance over frontline indices, as both the Nifty Midcap 100 and Nifty Smallcap 100 indices outperformed the benchmark indices for the fifth consecutive trading session.

Further, the strong performance by Kotak Mahindra Bank has boosted sentiment in the banking space, resulting in a sharp rally across all major counters, while PSU banks have also extended their winning streak. On the other hand, the strong support from Wipro has helped the Nifty IT index close in the green, following the significant sell-off seen in the index during the previous trading session.