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At the end of the week, Nifty opened with a strong rise. While Sensex opened 200 points higher, Nifty also increased by 50 points and is trading around 23,800.
On the weekly close of Nifty on Thursday (January 2, 2025), the domestic stock markets opened with a strong rise and after this a tremendous rise was recorded in the market. A gain of 1436.30 points was seen in Sensex. So Nifty also crossed 24,000 with a gain of 445.75 points. Bank Nifty is also seeing a rise of about 110 points. Buying was also seen in midcap-smallcap indices.
The market is getting support from the rise in auto and NBFC shares. Shares like private banks rose. Consumer Durables was the only index to trade in the red. Shares like Ashok Leyland, M&M, Maruti, Tata Motors gained momentum. Kotak Bank, Bajaj Finance, Tata Motors, Dr. Reddy, Shriram Finance Nifty remained bullish. Whereas, decline was seen in Wipro, Adani Enterprises, Bajaj Auto, Adani Ports, NTPC.
Overall the weekly close of Nifty started in the green. Sensex opened at 78,657, up 150 points from its previous close. Nifty opened 41 points higher at 23,783 and Bank Nifty opened 24 points higher at 51,084. On the other hand, the rupee opened at a new low of 85.70/$.
Mixed signals were received from global markets in the morning. Global markets will open from today after the holidays. But meanwhile, Gift Nifty fell by about 50 points and closed at 23850. Dow futures were sluggish while Japan’s Nikkei was still closed.
Crude oil reached a 7-week high above $75 in the first trading session of the new year. Dollar index is ahead of 108. Gold was at $2640 while silver was up by one and a half per cent at around $30. Even in a strong market on the first day of the year, FIIs invested Rs. Selling worth Rs 3,300 crore was witnessed in cash, index and stock futures sales today ahead of weekly US unemployment claims and crude oil inventories data.
An important trigger for the market today
• Positive start for Dow and Nasdaq futures.
• Crude hits 7-week high above $75
• Tata Motors’ December sales were better than expected
• FII sold for the 12th consecutive day, DII bought for the 11th day