Closing Bell: Sensex up 1,436 pts, Nifty around 24,200; all sectors in the green

Market Close | Nifty near 24,200, Sensex rises 1,436 points

Indian equity indices ended on strong note with Nifty around 24,200 on January 2 amid buying across the sectors. At close, the Sensex was up 1,436.30 points or 1.83 percent at 79,943.71, and the Nifty was up 445.75 points or 1.88 percent at 24,188.65.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty has moved above the 200 DMA after several failed attempts in recent sessions. Additionally, the index has crossed above the 21 EMA on the daily timeframe, confirming a bullish trend. The RSI is also in a bullish crossover. The index appears to be a "buy on dips" candidate following a strong closing. Support is placed at 24,000, while on the higher end, it may move towards 24,500.

BSE Midcap and Smallcap indices added a percent each. All the sectoral indices ended in the green with auto index up 3.5 percent, IT index up 2 percent, while FMCG, Metal, Oil & Gas, PSU, Realty, Bank up 1 percent each....Read More

Stock Market LIVE Updates | Hindustan Zinc Q3 Business Update

#1 Mined metal production at 265 kt, down 2 percent YoY & up 3 percent QoQ

#2 Saleable metal production at 259 kt, flat YoY & down 1 percent QoQ

#3 Refined zinc production at 204 kt, flat YoY & up 3 percent QoQ

Vinod Nair, Head of Research, Geojit Financial Services

Increased momentum was observed in the domestic market, driven by optimism about the upcoming earnings season starting next week. The rally was broad-based, with most sectoral indices posting gains. The auto sector led the way, showing the strongest momentum due to robust December sales that defied the usual subdued demand. Banking and IT stocks also performed well, as the economy bottomed in Q2.

Ajit Mishra – SVP, Research, Religare Broking

It was an exceptional session for market participants, as the benchmark index surged nearly 2% after consolidating within a range for almost two weeks. Following a flat opening, strength in auto and IT heavyweights fueled an early rally, which was later supported by other sectors. As a result, the Nifty ended near the day’s high at 24,188.65. Broader indices also mirrored the positive sentiment, gaining between 0.6% and 1.1%.

This up move has significantly eased the recent pressure, bringing the Nifty closer to its next resistance at the medium-term moving average, the 100-day exponential moving average (DEMA), currently around the 24,250 mark. A decisive breakout above this level could open the door to 24,400. On the downside, it is crucial for the Nifty to sustain above the 24,000 level; failure to do so might lead to a sideways bias again. We continue to emphasize the importance of selective stock picking, prioritizing those with relatively stronger performance.

Prashanth Tapse, Senior VP (Research), Mehta Equities

While markets failed to deliver a Christmas rally over the past few weeks, the New Year has provided strong optimism in the first two days with Sensex touching the psychological 80k mark on the back of broad-based short covering.

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. However, any further uptick in US bond yields could weigh on domestic equities and fuel foreign fund outflows.

Aditya Gaggar Director of Progressive Shares

In today's trade, the bulls dominated as the market saw a steady opening followed by a one-way rally throughout the session. This helped the Index break through multiple resistance levels to settle the trade at 24,188.65 with notable gains of 445.75 points. All the sectors, except Media, ended in the green, with Auto and IT being the standout performers. Despite the strong market movement, Mid and Smallcap stocks underperformed the Frontline Index; as the rally was primarily driven by the major Index stocks.

On the daily chart, the Index has formed a robust bullish candle. However, we believe a pullback or retracement is possible, which could push the Index lower to test support at the 24,000 levels. After that, the next leg of the rally could take the Index towards 24,700–24,800.

Currency Check | Rupee ends 9 paise lower

Indian rupee ended 9 paise lower at 85.75 per dollar on Thursday against Wednesday's close of 85.64.

Market Close | Sensex up 1,436 pts, Nifty around 24,200; all sectors in the green

Indian equity indices ended on strong note with Nifty around 24,200 on January 2 amid buying across the sectors.

At close, the Sensex was up 1,436.30 points or 1.83 percent at 79,943.71, and the Nifty was up 445.75 points or 1.88 percent at 24,188.65. About 2312 shares advanced, 1496 shares declined, and 108 shares unchanged.

Biggest Nifty gainers were Bajaj Finserv, Eicher Motors, Bajaj Finance, Maruti Suzuki, Shriram Finance were while losers included Britannia Industries, Sun Pharma.

BSE Midcap and Smallcap indices added a percent each.

All the sectoral indices ended in the green with auto index up 3.5 percent and IT index up 2 percent.

Stock Market LIVE Updates | Divi’s Lab commences commercial operation at Unit III greenfield project at Kakinada, Andhra Pradesh

The company has commenced commercial operations from a part of the Phase I of Unit III greenfield project at Ontimamidi Village (Kona), Thondangi Mandal, Kakinada, Andhra Pradesh from January 01, 2025.

Sensex Today | 1.48 million shares of Jio Financial Services traded in another block: Bloomberg

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee depreciated today on a strong Dollar demand and persistent FII outflows. Elevated crude oil prices also pressurised the Rupee. US Dollar strengthened amid weak in the Chinese Yuan. However, positive domestic markets prevented a sharp fall.

We expect Rupee to trade with a negative bias on strength in the US Dollar and Dollar demand from importers. Sustained FII outflows may further pressurise the Rupee. However, any intervention by the RBI may support Rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 85.50 to Rs 86.

Brokerage Call | Citi maintains ‘buy’ rating on M&M, target at Rs 3,520

#1 Company continued with the volume momentum that has been visible over most of 2024

#2 Domestic UV volumes growth reflects incremental volumes of the new models

#3 Tractors too remained strong, with domestic volumes up 22 percent YoY

#4 Think another good harvest season could be another positive driver for stock

#5 Tractor volumes could get a fillip

Stock Market LIVE Updates | South Indian Bank Q3 advances increase 11.94%

#1 Gross advances increase 11.94 percent to Rs 86,965 crore Vs Rs 77,686 crore, YoY

#2 Total deposit grows 6.3 percent to Rs 1,05,378 crore Vs Rs 99,155 crore, YoY

#3 CASA ratio at 31.16 percent Vs 31.8 percent, YoY

#4 CASA rises 4.13 percent to Rs 32,831 crore Vs Rs 31,529 crore, YoY

In the near-term, emerging market currencies are expected to be guided by how incoming US economic data shapes expectations of rate cuts by the Federal Reserve...Read More

Stock Market LIVE Updates | Adani Enterprises shares recover more than 2% from day's low

Stock Market LIVE Updates | Indian Oil to operate fuel stations at Noida International airport

Stock Market LIVE Updates | Force Motors bags order for 2,429 units of diesel ambulance to health & family welfare dept, UP

Stock Market LIVE Updates | CSB Bank's gross advances, deposits rise in Q3

#1 Gross advances jump 26.5 percent to Rs 28,914 crore Vs Rs 22,867 crore, YoY

#2 Deposits grow 22.2 percent to Rs 33,406 crore Vs Rs 27,345 crore, YoY

Stock Market LIVE Updates | Ugro Capital to acquire stake in MyShubhLife

The company has entered into a Share Purchase Agreement and Shareholders’ Agreement for the acquisition of shares in “MyShubhLife” (Datasigns Technologies), an embedded finance fintech platform based in Bangalore, from its existing shareholders.

Completion of the acquisition is subject to the satisfaction of certain conditions.

Global Markets | European Markets trade mixed; CAC down 0.5%

Global Markets | Asian markets end lower; Hang Seng down 2.2%

Brokerage Call | JPMorgan keeps ‘neutral’ rating on Premier Energies, target at Rs 1,148

#1 MNRE’s memorandum to implement ALMM list II has increased demand for locally made cells meaningfully

#2 Supply of domestic cells is expected to increase faster though

#3 List II can help hold local pricing premiums for longer

#4 Given supply growth, it is difficult to argue for higher margin/EBITDA though

Brokerage Call | Citi keeps ‘sell’ rating on Bajaj Auto, target at Rs 7,800

#1 Domestic 2-wheeler volume remained weak which could possibly reflect some inventory clearance

#2 Export 3-wheeler volumes were better, rising 50 percent YoY

Sensex Today| Cholamandalam Financial up 6%, most in six months

Following last year's startup IPO frenzy, with 13 firms going public, the number of new-age public listings is expected to nearly double in 2025. This growth is expected across sectors, including fintech, e-commerce and quick commerce, logistics, and even edtech....Read More

Sensex Today| Sammaan Capital up 5%, most in six weeks

Sensex Today| Hero MotoCorp up most in four months

Markets@2 | Sensex gains 1200 pts, Nifty above 24100

The Sensex was up 1,208.95 points or 1.54 percent at 79,716.36, and the Nifty was up 369.35 points or 1.56 percent at 24,112.25. About 2049 shares advanced, 1380 shares declined, and 88 shares unchanged.

Stock Market LIVE Updates | Vishnu Prakash R Punglia bags order of Rs 433.1 million

Vishnu Prakash R Punglia received letter of lowest bidder by competent authority for construction of 2-Lane with paved shoulder configuration of bypass (with provision of new ROB) to Mandal town (District-Bhilwara) with connecting NH-158 to NH-48 in the State of Rajasthan on EPC mode having a total value of Rs 433.1 million.

Brokerage Call | CLSA downgrade Wipro to ‘hold’ from ‘outperformance’, target at Rs 303

#1 Downgraded due to recent stock outperformance

#2 Expect company to remain a laggard with flat CC QoQ growth in Q3

#3 In 2024 Wipro saw earnings downgrades of 1 percent & P/E rerate from 19.7X to 24.4X

#4 The next leg of rerating for Wipro can only be achieved if it starts growing in-line with peers

Stock Market LIVE Updates | Infosys shares gain most in seven months

Stock Market LIVE Updates | Jubilant Foodworks shares hit 3-year high

Stock Market LIVE Updates | Punjab National Bank's domestic advances up 14% at Rs 10.6 lakh crore Vs Rs 9.3 lakh crore, YoY

Brokerage Call | Citi keeps ‘buy’ rating on Bajaj Finance, target at Rs 8,150

#1 Expect loan growth stability, positive NIM bias and only a marginal rise in credit cost

#2 Key triggers include credit cost guidance revision

#3 Expect only a marginal uptick in Q3 credit cost to 2.20-2.25 percent

#4 Expect AUM growth of 6 percent QoQ/27 percent YoY, drawing support

#5 With CoFs peaking in Q2 & growth led by high-yielding segments, expect positive NIM bias

#6 Management transition update will be critical

#7 Our assessment leaning more towards executive role of Rajeev Jain at Bajaj Finance/Bajaj group level

Stock Market LIVE Updates | TVS Motor sells 3.21 lakh units in December 2024

Stock Market LIVE Updates | Welspun Enterprises shares gain most in five weeks

Sensex Today | 1.28 million shares of Jio Financial Services traded in a block: Bloomberg

Stock Market LIVE Updates | Godawari Power completes 51% acquisition of Jammu Pigments

On December 27, the Centre informed all three private telecom operators — Reliance Jio, Bharti Airtel, and Vodafone Idea — about waiving BGs worth Rs 33,000 crore...Read More

Markets@1 | Sensex up 1000 pts, Nifty above 24000

The Sensex was up 1,037.84 points or 1.32 percent at 79,545.25, and the Nifty was up 317.05 points or 1.34 percent at 24,059.95. About 1998 shares advanced, 1409 shares declined, and 86 shares unchanged.

Indo Farm Equipment IPO subscribed at 117.37 times at 1 PM (Day 3)

QIB – 34 times

NII - 326.35 times

Retail – 75.44 times

Overall – 117.37 times

Stock Market LIVE Updates | ITC shares extend gains on third day

ITC demerge its hotels business into ITC Hotels effective Jan 1, 2025

The rally extended across sectors, with significant interest in pharma, FMCG, and energy counters, helped by strong business updates, earnings optimism and technical factors supporting the uptrend....Read More

Brokerage Call | Citi upgrades Kotak Mahindra Bank to ‘buy’, target raises to Rs 2,070

#1 Sustain loan growth momentum

#2 Personal loan with improved delinquency trends to gather pace

#3 Credit cost expectations already set in higher

#4 Tweaking medium-term growth with relatively low beta

#5 Lifting of regulatory restrictions will be key trigger

Brokerage Call| Citi maintains ‘sell’ rating on Petronet LNG

Petronet LNG shares fall the most in seven months after Citigroup opens a 90-day negative catalyst watch on the Indian energy company due to regulatory risks and heightened competition.

Ashok Leyland's total sales jumped by 5 percent YoY to 16,957 units in December...Read More

Stock Market LIVE Updates | Shanti Lal Jain ceases to be MD and CEO of Indian Bank

Shanti Lal Jain ceased to be the Managing Director and CEO of the bank, effective January 1, upon superannuation.

Sensex Today | 3.86 million shares of JSW Energy trade in block: Bloomberg

Stock Market LIVE Updates | Hyundai Motor India introduces Hyundai CRETA Electric

Stock Market LIVE Updates | Rico Auto shares extend gain on third consecutive session

Stock Market LIVE Updates | Jai Corp shares drop most in three years; extends fall on third straight session

Jai Corp shares touched 52-week low of Rs 247.90

Stock Market LIVE Updates | Goa Carbon resumes operations at its Bilaspur unit

The company has resumed operations at its Bilaspur unit in Chhattisgarh, and production has been normalized as of January 1.

Stock Market LIVE Updates | Ashoka Metcast’s Chief Financial Officer resigns

Dipak Pandit Nikam has resigned from the position of Chief Financial Officer of the company, effective January 1, due to personal reasons.

Stock Market LIVE Updates | Force Motors shares gain most in 5 weeks

Stock Market LIVE Updates | Goyal Salt to invest Rs 80 crore to set up salt manufacturing plant in Gandhidham

Goyal Salt is investing Rs 80 crore to set up a large salt manufacturing plant in Gandhidham near salt capital of Kutch.

Stock Market LIVE Updates | Sunita Tools' arm gets LoI for supply of empty artillery shells 155mm M107

Sunita Tools' subsidiary Tripathi Aerotech & Weapons Systems gets  major LoI for supply of Empty Artillery Shells 155mm M107.

In the near-term, emerging market currencies are expected to be guided by how incoming US economic data shapes expectations of rate cuts by the Federal Reserve...Read More

Stock Market LIVE Updates | Federal Bank implements Nucleus Software’s 'FinnAxia'

Federal Bank has implemented Nucleus Software’s cutting-edge transaction banking platform FinnAxia.

Stock Market LIVE Updates | Deepak Spinners’ CFO resigns

Punam Chand Sharma has resigned as the Chief Financial Officer of the company, effective January 1.

South Indian Bank's gross advances rose by 12 percent YoY to Rs 86,965 crore in Q3...Read More

Stock Market LIVE Updates | Ashok Leyland total sales up 5% at 16,957 units Vs 16,154 units, YoY

Stock Market LIVE Updates | M&M total sales up 16% in December 2024

Mahindra & Mahindra’s overall auto sales for the month of December 2024 stood at 69768 vehicles, a growth of 16%, including exports.

In the Utility Vehicles segment, Mahindra sold 41424 vehicles in the domestic market, a growth of 18% and overall, 42958 vehicles, including exports.

The domestic sales for Commercial Vehicles stood at 19502.

Stock Market LIVE Updates | Tata Motors total domestic sales up 1% at 76,599 units, YoY

#1 Total commercial vehicle sales drop 1 percent to 33,875 units Vs 34,180 units, YoY

#2 Total passenger vehicle sales (including EV) grow 1 percent to 44,289 units Vs 43,675 units, YoY

Stock Market LIVE Updates | Maruti Suzuki India’s production by 30.3% in December 2024; shares gain most in 14 weeks

The company announced the production of 1,57,654 vehicles in December 2024, a 30.3% increase compared to 1,21,028 vehicles produced in the same month last year.

Stock Market LIVE Updates | Ind-Swift Laboratories completes land purchase at Derabassi, Punjab

The company has completed the purchase of land measuring 40 bighas at Derabassi, Punjab, for Rs 17.72 crore. The land will be utilized to set up a new formulations facility.

Stock Market LIVE Updates | Eicher Motors motorcycle sales rise 25% YoY to 79,466 units in Dec

'The kiln has been lit, and production has returned to normal from today,' said Goa Carbon on January 1...Read More

Maruti Suzuki India Ltd on January 1 reported 30% rise in total wholesales at 1,78,248 units in December 2024 as compared to 1,37,551 units in the same month a year ago...Read More

The business update shared by CSB Bank on January 1 showed that the total deposits grew by 22.17% on year to Rs 33,406 crore, and advances against gold and gold jewellery rose by 36.28% YoY to Rs 13,018 crore....Read More

Markets@11 | Sensex rises 630 pts, Nifty above 23900

Stock Market LIVE Updates | Tanla Platforms shares extend gains on third day

Stock Market LIVE Updates | Tantia Constructions shares locked at upper circuit

The HSBC India Manufacturing Purchasing Managers’ Index declined to 56.5 in November, compared with 57.5 the previous month....Read More

Stock Market LIVE Updates | NTPC share price breaks 2-day gain