Markets: Indian bourses greet the New Year 2025 with significant gains
Virendra Pandit
New Delhi: A day after celebrating the New Year 2025, the Indian stock market rallied by over 1.8 percent on Thursday as Sensex neared 80,000 points and Nifty crossed the 24,000 mark with optimism fueled by technical breakouts and upcoming earnings.
Indian markets staged a robust comeback, with the benchmark Sensex surging 1,436 points (1.83 percent) to 79,943.71, and Nifty climbing 445.75 points (1.88 percent) to 24,188.65.
The first rally of 2025 was broad-based, with auto stocks leading the charge after strong December sales data from major manufacturers.
Eicher Motors emerged as the top gainer, soaring 8.55 percent following a 25 percent year-on-year growth in December sales and a remarkable 90 percent surge in exports.
Other significant gainers included Bajaj Finserv (7.84 percent), Bajaj Finance (6.32 percent), Maruti Suzuki (5.61 percent), and Shriram Finance (4.53 percent). Only two stocks in the Nifty declined – Sun Pharma (-0.84 percent) and Britannia Industries (-0.20 percent), the media reported.
On Thursday, the market’s breadth was positive, with 2,395 stocks advancing against 1,574 declining on the BSE. Notably, 173 stocks reached their 52-week highs, while only 25 touched their 52-week lows. Seven stocks hit the upper circuit, and three reached the lower circuit.
The rally was remarkable in some sectoral indices, with the Auto index surging 3.75 percent and IT gaining 2 percent. The Nifty Bank index rose by 544.95 points (1.07 percent) to 51,605.55, while Nifty Financial Services added 386.75 points (1.64 percent) to close at 24,006.70.
As the New Year unfolds ahead, market participants will focus on the upcoming earnings season starting next week, particularly from IT companies.
However, they are also wary of what happens after President-elect Donald Trump re-enters the White House as the 47th US President on January 20, causing potential headwinds.
