Long term return stock market Indian Stock Market Nifty 50

“Indian Stock Market Gains Momentum: Auto and IT Sectors Shine Amid Positive Trends”

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Market Overview: Positive Start and Strong Close

Indian stock market witnessed a robust trading session yesterday, opening slightly above the previous day’s closing levels. The Nifty 50 index steadily gained throughout the day, driven by strong performances in the auto and IT sectors, and closed significantly higher. However, media stocks lagged behind, marking the only sectoral decline for the day.

Sectoral Performance: Auto and IT Lead the Rally

Auto stocks emerged as the best performers, riding high on strong sales data and positive market sentiment. IT stocks followed closely, benefiting from global trends and investor optimism. Media stocks, on the other hand, faced selling pressure, leading to a subdued performance.

Global Market Sentiment

Global cues were limited as both US and UK markets remained closed. Most Asian markets declined during the session, with the notable exception of Australian markets, which managed to close higher.

Top Gainers

The Nifty 50 saw widespread gains, with only two stocks in the red. Here are the top gainers:

  • Eicher Motors: ₹5,308.10 (▲ 8.65%)
  • Bajaj Finserv: ₹1,700.65 (▲ 7.88%)
  • Bajaj Finance: ₹7,389.20 (▲ 6.54%)
  • Maruti Suzuki: ₹11,841.30 (▲ 5.65%)
  • Shriram Finance: ₹3,060.05 (▲ 4.84%)

Top Losers

Despite the overall positivity, two Nifty 50 stocks closed in the red:

  • Sun Pharma: ₹1,878.00 (▼ 0.63%)
  • Britannia: ₹4,787.80 (▼ 0.14%)

Economic News: Manufacturing PMI and IPO Updates

  • Manufacturing PMI: India’s manufacturing Purchasing Managers’ Index (PMI) slightly declined to 56.4 in December, down from 56.5 in November. This indicates a slower but still robust expansion in manufacturing activity.
  • Indo Farm Equipment IPO: The IPO witnessed overwhelming demand, subscribed 229.68 times overall, with retail subscriptions at 104.92 times. The IPO has now closed for subscription.

Key Stock Updates

  1. Zomato: Blinkit, a subsidiary of Zomato, launched a 10-minute ambulance service in Gurugram, starting with five ambulances.
  2. Varun Beverages: Invested ₹413 crore in its South African subsidiary to repay debt and fuel growth.
  3. Divi’s Labs: Began operations at its greenfield project in Kakinada, Andhra Pradesh, with Phase 1 spanning 200 acres and an investment of ₹1,200–₹1,500 crore.
  4. PNB: Reported a 14.1% year-on-year rise in domestic loan disbursements to ₹10.62 lakh crore in Q3 FY24. Domestic deposits also grew by 14.4% to ₹14.75 lakh crore.
  5. Waaree Energies: Secured an order for 150 MWp solar modules for domestic use.

Auto Sales Performance in December

  • Eicher Motors: Royal Enfield sales surged 25% YoY to 79,466 units.
  • TVS Motor: Two-wheeler sales rose 8% to 3.12 lakh units, while three-wheeler sales dropped 18.16% to 9,685 units.
  • Bajaj Auto: Two-wheeler sales declined by 4% to 2.72 lakh units, but commercial vehicle sales jumped 16% to 50,952 units.
  • M&M: SUV sales increased by 18% YoY to 41,424 units, while tractor sales rose 20% to 22,943 units.
  • Maruti Suzuki: Recorded a 29.59% YoY increase in total sales to 1.78 lakh units, with monthly exports reaching an all-time high of 37,419 units (up 39.19%).
  • Hyundai: Sales fell 2.4% to 55,078 units. However, 2024 domestic sales reached an all-time high of 6.05 lakh units (up 0.6%).
  • Tata Motors: Sales increased by 1% YoY to 76,599 units.
  • Ashok Leyland: Posted a 5% YoY growth in total sales to 16,957 units.
  • Toyota Kirloskar: Achieved a 29% YoY growth in sales to 29,529 units, with 2024 total sales reaching a record high of 3.26 lakh units (up 40%).
  • Escorts Kubota: Tractor sales declined by 10.82% YoY to 5,472 units.

Commodity and Currency Updates

The Indian stock market exhibited a strong performance yesterday, driven by gains in the auto and IT sectors. Positive domestic developments and stable economic indicators supported market sentiment, despite limited global cues. With robust sales data and new project announcements, the market remains optimistic heading into the new year.

Read More Stock Market Daily News Updates

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