Indian Stock Market Starts 2025 on a Positive Note: The Indian stock markets ended with decent gains on the first trading day of 2025. The equity benchmarks recovered immediately after the initial dip and finished in the green. Most of the global markets remained closed on Wednesday on the occasion of the 2025 New Year Holiday.
Key Highlights of the First Trading Day of 2025
The market sentiments remain positive due to buying in the Auto, Media, and Energy sectors, while some weakness was seen in the Realty and Metal sectors. Heavyweight automobile stocks like Maruti, M&M, Eicher Motors, and Tata Motors gained 1% to 3% due to the reaction to the December sales data.
The equity benchmarks S&P BSE Sensex gained 368.40 points or 0.47% to 78507.41, while the Nifty 50 index added 98.10 points or 0.41% to 23742.90. The broader markets also closed on a positive note, the Nifty midcap index was up by 0.44% while the Nifty smallcap index outperformed the key indexes and gained 1.02% on Wednesday.
The market breadth was in favor of buyers, as 1799 shares were advanced and 593 shares declined on the NSE. The NSE’s volatility index “India VIX” was up by 0.41% to 14.51.
Economic News on the Indian Stock Market
The continuation of today’s momentum would depend on Q3 earnings growth, where expectations remain optimistic on a quarter-on-quarter basis. Positive core sector data and the anticipated ramp-up in government capex spending for the remainder of the fiscal year supported today’s market and buying witnessed in sectors like capital goods, industrials, auto, and power.
India’s GST collections rose to ₹1.77 lakh crore in December, a 7.3% increase from ₹1.65 lakh crore in December 2023. While staying above ₹1.7 lakh crore for the tenth month, it was lower than April 2024’s ₹2.1 lakh crore peak and reported as the slowest growth in three months.
IPO Updates
Indo Farm Equipment IPO subscribed 54.74 times on the second day. The public issue subscribed 46.07 times in the retail category, 11.96 times in QIB, and 132.03 times in the NII category by January 1, 2025. The GMP price of Indo Farm Equipment IPO is Rs 96 per share indicating a solid listing gain.
Trade Setup for Thursday, 2nd Jan 2025
The Nifty index has ended the day on a positive close and is now looking sideways. The next support for the index is around 23650- 23700 and resistance is at 23950. The market sentiment on the street is neutral till the Nifty is trading below 23950 on a closing basis.
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