Stock markets start 2025 on high note, snap two-day decline on buying in bluechips

PTI, Jan 1, 2025, 6:19 PM IST

Representative image (source: Pexels)

Mumbai: Benchmark Sensex and Nifty started the New Year on a high note with the key indices closing higher in a see-saw trade on Wednesday on buying in blue-chip stocks.

Snapping its two-day falling streak, the 30-share BSE Sensex rose by 368.40 points or 0.47 per cent to settle at 78,507.41 on the first trading session of 2025. During the day, it surged 617.48 points or 0.79 per cent to 78,756.49.

The NSE Nifty climbed 98.10 points or 0.41 per cent to 23,742.90 with 37 of its constituents ending higher and 17 closing lower.

Among Sensex shares, Maruti Suzuki rose the most by 3.26 per cent after the carmaker reported 30 per cent rise in total wholesales at 1,78,248 units in December 2024.

Mahindra & Mahindra spurted 2.45 per cent after the automaker reported a 16 per cent rise in overall auto sales at 69,768 units in December 2024.

Larsen & Toubro, Bajaj Finance, Tata Motors, IndusInd Bank, Asian Paints, Power Grid, HDFC Bank and Axis Bank were also among the gainers.

Tata Steel, Adani Ports, Zomato, HCL Tech, State Bank of India, Hindustan Unilever and Tech Mahindra were among the laggards.

“The markets began the calendar year on a positive note, gaining nearly half a per cent. After an initial decline, buying interest in select heavyweight stocks across sectors quickly erased losses, gradually pushing the index higher,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

The BSE smallcap gauge jumped 1.03 per cent and midcap index climbed 0.50 per cent.

Among sectoral indices, capital goods surged 1.22 per cent, industrials (1.17 per cent), power (0.94 per cent), telecommunication (0.76 per cent), consumer discretionary (0.68 per cent), financial services (0.51 per cent) and healthcare (0.42 per cent).

Metal and realty were the laggards.

“An uptick in core sector data and prospect of ramp-up in capex spending by the government in the remaining part of the fiscal aided sectors like capital goods, industrials, auto, and power,” Vinod Nair, Head of Research, Geojit Financial Services said.

As many as 2,741 stocks advanced while 1,241 declined and 89 remained unchanged on the BSE.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,645.22 crore on Tuesday, according to exchange data.

Most of the Asian and European markets were closed for New Year holidays.

US markets ended lower on Tuesday.

Global oil benchmark Brent crude climbed 0.88 per cent to USD 74.64 a barrel.

The BSE benchmark Sensex declined 109.12 points or 0.14 per cent to settle at 78,139.01 on Tuesday. The Nifty dipped marginally by 0.10 points to settle at 23,644.80.

In the entire 2024, the Sensex jumped 5,898.75 points or 8.16 per cent, and the Nifty surged 1,913.4 points or 8.80 per cent.