Indian stock markets see strong gains, with Sensex nearing 80,000 and Nifty reclaiming key technical levels on bullish sentiment. (DC File Image)
MUMBAI: The Indian equity markets continued its positive rally for the second consecutive trading session of 2025 with bullish sentiment driving Thursday's performance. Throughout the day, buyers dominated the market, leading to a strong finish. The benchmark S&P BSE Sensex ended 1436 points or 1.83 per cent higher at 79,943 while the Nifty rose 445.75 points or 1.88 per cent to 24,188. Market cap of the BSE-listed firms rose by Rs 6 lakh crore to Rs 450.44 lakh crore against the previous session's Rs 444.46 lakh crore. Gains in banking, IT, auto and metals triggered a major rally despite concerns in the currency market which saw the rupee scaling fresh lows amid rising crude oil prices and subdued growth.
The Nifty reclaimed key technical levels, surpassing its 20-day and 50-day moving averages during the session. Sectorally, all indices, except Nifty Media, ended in the green, with Nifty Auto up 4 per cent. The broader market also participated, with the Midcap Index rising 657 points to 58,108 and Nifty Bank gaining 545 points to close at
51,605.5.
51,605.5.
The rupee slipped 2.9 per cent in 2024, from Rs 83.23 to the dollar as of end-2023 to Rs 85.66 on December 31, 2024.
Auto stocks surged on strong December sales with Eicher Motors being the top gainer (up 8.55 per cent), Bajaj Finserv (up 7.84 per cent), Bajaj Finance (6.32 per cent), Maruti, Titan, Mahindra, Mahindra & Mahindra, Infosys, HCL Tech, Zomato, UltraTech Cement and Kotak Mahindra Bank were the other major gainers. Sun Pharma and Britannia were the only two losers on NSE.
In 2024, the Sensex and Nifty gave modest annual returns of 8.9 per cent and 9.6 per cent in 2024 respectively compared to 20 per cent profit in 2023.
Osho Krishnan, Sr. Analyst, Technical & Derivatives of - Angel One, “The benchmark index concluded the first weekly expiry of 2025 on a positive note, gaining nearly 2 percent to settle just shy of the 24200 subzone. Today has proven to be a significant day for market participants, as Nifty successfully surpassed several key resistance
points. The index first tackled the 200 DSMA; following this, it broke through the 20 DEMA and finally managed to close the bearish gap of the daily chart.”
points. The index first tackled the 200 DSMA; following this, it broke through the 20 DEMA and finally managed to close the bearish gap of the daily chart.”
“This series of accomplishments clearly illustrates the strength and dominance of Bullish sentiment in the market, signaling a potentially sustained upward trajectory in the near future. Additionally, the recent development may be seen as a turnaround for the market sentiments towards the bullish outlook,” added Krishnan.
However analysts warned of looming risks. “Any further uptick in the US Bond yields could weigh on domestic equities and fuel foreign fund outflows,” said Prashanth Tapse, senior vice-president Mehta Equities Ltd.
( Source : Deccan Chronicle )
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