Thursday, January 02, 2025 | 07:02 PM ISTEN Hindi

Sensex snaps 4-day losing run, rises 428 pts; Nifty holds 16,450; RIL up 3%

CLOSING BELL: Dr Reddy's Labs, Reliance Industries, Bharti Airtel, Sun Pharma, Tech M, and Infosys were the top large-cap gainers

SI Reporter New Delhi

CLOSING BELL

Stock market highlights: Equity markets snapped their four-day losing run, ending near day's high, as hefty buying emerged in energy, pharma, FMCG, and IT shares. The BSE Sensex bounced 813 points from the day's low to settle at 55,320. This was 428 points, or 0.78 per cent, higher than its previous close.

On the NSE, the Nifty50 recovered from a low of 16,244 to end at 16,478, up 122 points or 0.74 per cent higher than yesterday's close. In the broader markets, the Nifty MidCap and SmallCap indices added up to 0.5 per cent.

Dr Reddy's Labs, Reliance Industries, Bharti Airtel, Sun Pharma, Tech M, and Infosys were the top large-cap gainers, while Oil India, Concor, IEX, Indraprastha Gas, PNB Housing, Suzlon, and CAMS topped charts in the mid- and small-cap segment.

Select financials and metals, including Tata Steel, SBI, Bajaj Finance, and HDFC, were the top laggards, along with NTPC, M&M, Ultratech Cement, HUL, and Asian Paints.

Global markets

European stocks slid lower on Thursday ahead of the latest interest rate decision from the European Central Bank. The pan-European Stoxx 600 fell 0.7 per cent in early trade, with basic resources shedding 1.6 per cent to lead losses. Wall Street futures were, however, quoting 0.3-0.4 per cent higher.

4:12 PM

Nifty tech view: Index moving above 16,400 suggests bullishness

Nifty has formed a bullish engulfing pattern at the end of a volatile trading session.

Besides, the Nifty has moved back above 16400, which suggests bullishness.

The daily RSI is in bullish crossover and rising. Over the near term, the trend may remain positive as long as it remains above 16400.

On the higher end, resistance is visible at 16600/16800.

Views by Rupak De, Senior Technical Analyst at LKP Securities

Nifty, market, sensex, stocks, investors, growth

4:10 PM

Closing view: Investors weighing impact of upcoming global central bank meetings

The market continued to be dominated by a volatile global market with investors weighing the impact of the upcoming global central bank meetings.

However, the domestic market reversed its losses during the closing hours due to positive movements in the US futures.

FIIs are cautious ahead of the Fed policy even though the market may have factored-in an interest rate hike of 50bps, due to risk of hawkish measures.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:08 PM

Closing view: Refinery stocks came under pressure after strong upmoves in last few wks

The Street displayed caution ahead of the FOMC meet despite known outcomes as supply chain disruptions and rising inflation continue to exert pressure.

Fears of a slowdown in GOI CAPEX spend in the wake of rising subsidies despite the buoyancy in tax collections kept the street circumspect.

While Indices stayed buoyant rising by almost a percentage led by a surge in the Energy Index, the broader markets witnessed profit booking in refinery stocks after a strong up-move since the last few weeks.

Domestic flows over the last many months have been structurally positive even as foreign outflows continue unabated.

Views by S Ranganathan, Head of Research at LKP securities.