At 13:27 IST, the barometer index, the S&P BSE Sensex, surged 1,312.15 points or 1.67% to 79,825.61. The Nifty 50 index jumped 413.90 points or 1.74% to 24,156.80.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.68% and the S&P BSE Small-Cap index added 0.52%.
The market breadth was positive. On the BSE, 2,325 shares rose and 1,609 shares fell. A total of 120 shares were unchanged.
Economy:
In December 2024, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell to 56.4, marking a 12-month low and indicating a slower improvement in operating conditions. The headline figure declined slightly from 56.5 in November but remained above the long-run average of 54.1, signaling a robust rate of growth.
Also Read
 "Royal Enfield")
 "Manu Bhaker")
 "The above-normal minimum temperatures are most likely to prevail over several parts of India except in some areas of the northwest in November, the India Meteorological Department (IMD) said on Friday.")
 "Rishabh Pant")
 "Nimisha")
Looking to 2025, Indian manufacturers were confident of a rise in output. Optimism reflected advertising, investment and expectation of favourable demand. Sentiment was nevertheless curbed by concerns around inflation and competitive pressures.
Ines Lam, Economist at HSBC, said, Indias manufacturing activity ended a strong 2024 with a soft note amidst more signs of a slowing trend, albeit moderate, in the industrial sector. The rate of expansion in new orders was the slowest in the year, suggesting weaker growth in future production. That said, there was some uplift in the growth of new export orders, which rose at the fastest pace since July. The rise in input prices eased slightly, wrapping up the year when Indian manufacturers felt the strain of sharp cost pressures.
Buzzing Index:
The Nifty Consumer Durables index gained 1.24% to 42,651.05. The index rallied 2.68% in four consecutive trading sessions.
Titan Company (up 3.46%), Bata India (up 2.26%), Century Plyboards (India) (up 2.17%), Whirlpool of India (up 1.51%), Dixon Technologies (India) (up 1.32%), Havells India (up 0.8%), Voltas (up 0.6%), Cera Sanitaryware (up 0.49%) advanced.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.17% to 6.902 as compared with the previous close of 6.890.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.7400, compared with its close of 85.6450 during the previous trading session.
MCX Gold futures for the 5 February 2025 settlement added 0.31% to Rs 77,128.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.29% to 108.44.
The United States 10-year bond yield declined 0.63% to 4.550.
In the commodities market, Brent crude for March 2025 settlement added 11 cents, or 0.15% to $74.75 a barrel.
Stocks in Spotlight:
TVS Motor Company rallied 3.32% after the companys total sales jumped 7% to 321,687 units in December 2024 as against 301,898 units in December 2023.
UGRO Capital added 1.02% after the company informed that its board has approved the issuance of non-convertible debentures (NCDs) aggregating upto Rs 100 crore with an option to retain oversubscription upto Rs 50 crore (green shoe option).
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
