Stock market today: Sensex, Nifty 50 ring in new year 2025 with decent gains; HDFC Bank, L&T, M&M shine
Stock market today: The Indian stock market began 2025 positively, with the Sensex and Nifty 50 rising by about 0.5%. The Sensex closed at 78,507.41, up 368 points, while the Nifty 50 ended at 23,742.90, gaining 98 points, driven by HDFC Bank, L&T, and M&M.
Stock market today: The Indian stock market started the new year 2025 on a positive note, with the benchmark indices, the Sensex and the Nifty 50, rising about half a per cent each on gains led by select heavyweights such as HDFC Bank, Larsen and Toubro (L&T) and Mahindra and Mahindra (M&M).
The Sensex opened at 78,265.07 against its previous close of 78,139.01 and rose as much as 617 points to the day's high of 78,756.49. The index finally closed 368 points, or 0.47 per cent, higher at 78,507.41.
The Nifty 50 opened at 23,637.65 against its previous close of 23,644.80 and touched its intraday high and low of 23,822.80 and 23,562.80, respectively, before ending 98 points, or 0.41 per cent, higher at 23,742.90.
Shares of HDFC Bank, Larsen and Toubro (L&T), Mahindra and Mahindra (M&M), Reliance Industries and Maruti Suzuki contributed the most to the gains in the Nifty 50 index, in that order.
The domestic market witnessed a broad-based gain as the BSE Midcap and Smallcap indices also rose 0.50 per cent and 1.03 per cent, respectively.
"The recovery was broad-based, while the sustainability of the trend will depend on the earnings growth in Q3, where the expectation is positive on a QoQ basis. An uptick in core sector data and the prospect of a ramp-up in capex spending by the government in the remaining part of the fiscal aided sectors like capital goods, industrials, auto, and power," said Vinod Nair, Head of Research at Geojit Financial Services.
The overall market capitalisation of BSE-listed firms rose to over ₹444 lakh crore from nearly ₹442 lakh crore in the previous session, making investors richer by over ₹2 lakh crore in a single session.
Sectoral indices today
Most sectoral indices ended with gains, with the Nifty Auto rising 1.34 per cent. Nifty Media (up 0.81 per cent) and Consumer Durables (up 0.77 per cent) also clocked healthy gains.
Nifty Bank rose 0.39 per cent, while the Private Bank index ended 0.46 per cent higher. The PSU Bank index ended with a mild gain of 0.09 per cent.
Nifty Realty (down 1.11 per cent) and Metal (down 0.12 per cent) ended in the red.
Nifty 50 outlook
Experts believe the market may continue the consolidation trend in the near term, with a focus on the upcoming Q3 earnings.
"The index has entered its second week of consolidation, and current indicators suggest that this trend will likely persist. We continue to advocate a stock-specific strategy, focusing on counters exhibiting relatively stronger momentum," said Ajit Mishra, SVP- Research at Religare Broking.
According to Aditya Gaggar, the director of Progressive Shares, for the reversal to gain further strength, the Nifty 50 needs to surpass the resistance zone between 23,850-23,900, where the 200-day moving average (DMA) lies. On the downside, the support seems to be at the 23,560 levels.
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