Sensex, Nifty open 2025 with gains, driven by bluechip buying
image for illustrative purpose
Indian stock markets kicked off 2025 on a strong note as both the Sensex and Nifty ended higher on Wednesday, fueled by a surge in bluechip stock buying and positive economic indicators.
The BSE Sensex broke a two-day losing streak, rising by 368.40 points (0.47%) to close at 78,507.41. It hit a high of 78,756.49 during the day, up by 617.48 points (0.79%). Similarly, the NSE Nifty climbed 98.10 points (0.41%) to reach 23,742.90, with 37 of its constituents finishing in the green.
Among the top performers on the Sensex, Maruti Suzuki saw the biggest rise, up 3.26%, after reporting a 30% increase in December 2024 wholesales, totaling 178,248 units. Mahindra & Mahindra followed closely, up 2.45%, reporting a 16% rise in sales to 69,768 units.
Other major gainers included Larsen & Toubro, Bajaj Finance, Tata Motors, IndusInd Bank, Asian Paints, Power Grid, HDFC Bank, and Axis Bank.
On the downside, Tata Steel, Adani Ports, Zomato, HCL Tech, State Bank of India, Hindustan Unilever, and Tech Mahindra struggled.
Ajit Mishra, SVP of Research at Religare Broking, noted, "Markets started the year on a positive note, with gains of nearly half a percent. After an initial dip, buying in select heavyweight stocks across sectors quickly reversed the losses, pushing the index higher."
The BSE smallcap index gained 1.03%, and the midcap index rose by 0.50%. Sector-wise, capital goods surged by 1.22%, followed by industrials (1.17%) and power (0.94%). Telecommunication, consumer discretionary, financial services, and healthcare also posted gains, while metals and real estate lagged.
According to Vinod Nair, Head of Research at Geojit Financial Services, "The uptick in core sector data and the expectation of increased government capex spending boosted sectors like capital goods, industrials, autos, and power."
Out of 4,071 stocks traded on the BSE, 2,741 advanced, 1,241 declined, and 89 remained unchanged.
Foreign Institutional Investors (FIIs) had offloaded equities worth Rs 4,645.22 crore on Tuesday, according to exchange data.
While most Asian and European markets were closed for the New Year holiday, US markets ended lower on Tuesday. The global oil benchmark, Brent crude, rose by 0.88% to $74.64 per barrel.
In 2024, the Sensex climbed 5,898.75 points (8.16%), and the Nifty surged by 1,913.4 points (8.80%).
