After a muted start to the year, the Indian stock market surged to new heights on Thursday, January 2, 2025, driven by a strong rally in auto stocks fueled by robust December car sales data.
The Sensex ended the day at 79,943.71, up by 1,436.30 points or 1.83%. Similarly, the Nifty closed at 24,188.65, rising by 445.75 points, or 1.88%. The rally reflected optimism about the upcoming earnings season and a broad-based market boost.
The standout performer was the Nifty auto index, which surged 3.79%, thanks to impressive sales figures for December that outpaced typical seasonal demand slowdowns. Market experts attributed the positive momentum to strong sales in the auto sector, alongside solid performances in banking and IT stocks.
Intra-day, the Sensex reached a high of 80,032.87, while the Nifty hit its peak at 24,226.70. The rally also extended to the broader market, with the Nifty Midcap 100 index climbing 657.30 points, or 1.14%, to close at 58,108.20, and the Nifty Smallcap 100 index rising by 120.55 points, or 0.64%, to 19,080.35.
The sectoral performance showed broad-based gains. The auto sector led the way, followed by strong performances in IT, consumer goods, financial services, FMCG, and real estate sectors.
On the Bombay Stock Exchange (BSE), 2,400 shares advanced, while 1,571 declined. A total of 115 shares remained unchanged.
Market analysts noted that the overall market momentum was bolstered by growing optimism ahead of the earnings season, set to begin next week. “The auto sector’s robust December sales defied the usual seasonal slowdown, while banking and IT stocks continued their strong run, reflecting the economy’s recovery from Q2,” said one expert.
Several major stocks contributed to the market’s positive performance. In the Sensex pack, top gainers included Bajaj Finserv, Bajaj Finance, Maruti Suzuki, Titan, M&M, Infosys, HCLTech, Zomato, UltraTech Cement, Kotak Mahindra Bank, and IndusInd Bank.
The only notable loser in the top stocks was Sun Pharma.
Overall, the Indian stock market’s first trading day of the year showcased significant optimism, with broad gains across sectors and investor confidence building ahead of the earnings season.
Also Read: India’s Solar Panel Exports Surge As World Looks Beyond China
PM Narendra Modi met with the Foreign Ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan…
PM Narendra Modi spoke with Canada's new Prime Minister Mark Carney on Friday, congratulating him…
On the occasion of World Environment Day, Vedanta Ltd announced a significant milestone in its…
India attracted over $500 billion in foreign direct investment (FDI) equity inflows between 2014 and…
PM Narendra Modi strongly condemned Pakistan for the Pahalgam terror attack, accusing it of trying…
PM Narendra Modi on Thursday launched a scathing attack on Pakistan for attempting to derail…