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Today’s share market’s key developments include - Insurers may hike premiums by 80% from Jan 1. Lloyds Metals reports record iron ore output. Fertiliser stocks rise as PM Fasal Bima Yojana allocation grows. HDFC Life faces GST demand. FIIs sell ₹1,782 crore; DIIs buy ₹1,690 crore.
3:30 PM IST | 02 Jan 2025
Closing Bell | Sensex gains 1,436 points | Nifty crosses 24,150 for the second consecutive day of rally.
Sensex surged over 1,500 points, closing 1,436 points higher, while Nifty topped 24,200 as India VIX eased 5%. Bajaj twins gained over 6%, with DMart and Cement sectors in focus. Sundaram Finance (+14.96%) and Dhani Services (+10.58%) led Nifty gainers, while Petronet LNG (-5.7%) and Crisil (-3.96%) were top losers. The market capitalisation of BSE-listed companies rose ₹5.58 lakh crore to ₹450.01 lakh crore. Nifty 50 is projected to reach 26,500 by March 2026, driven by capex and mid-cap growth.
1:40 PM IST | 02 Jan 2025
Stock Market LIVE Updates | Sensex jumps 1,300+ points to 79,900; Nifty crosses 24,100.
Sensex surged over 1,300 points, crossing 79,900, while Nifty climbed above 24,100. Jai Corp shares plunged 20% following UIHPL’s capital reduction proposal. Except for Nifty Media and Pharma, all sectors traded in the green, with broader indices mirroring benchmarks. Mukesh Ambani is reportedly planning Reliance Jio’s IPO in 2025, aiming to raise ₹35,000-40,000 crore, valuing the telecom giant at $120 billion. The IPO, expected to be India’s largest, involves both new and existing share sales. India VIX eased over 2%. Currently, the top Nifty gainers include Maruti (+3.2%) and M&M (+2.4%), while losers are Wipro (-1.8%) and Hero MotoCorp (-1.4%).
12:10 AM IST | 02 Jan 2025
Stock Market LIVE Updates | Sensex reached 79,213 (+0.4%) | Nifty surpassed 23,900, marking strong market momentum.
Sensex hit a day's high of 79,213, gaining 0.4%, while Nifty crossed 23,900. Australian miners boosted shares on 2025's first trading day. Gold extended gains as markets braced for policy shifts. Petronet LNG shares dropped 8%. Vishnu Prakash R Punglia secured an LOI worth ₹3,134 crore, and Cosmea Financial Holdings received SEBI approval for mutual fund business. Bitcoin surged past $95,000, with XRP and Stellar gaining up to 21%.
11:10 AM IST | 02 Jan 2025
Stock Market Live Updates | Sensex surged 700 points to 79,213 | Nifty surpassed 23,900
Sensex surged 700 points to hit a day's high of 79,213, while Nifty climbed above 23,900. Bajaj twins and Maruti Suzuki led the gains. CreditAccess Grameen and Sundaram Finance emerged as top Nifty gainers, while Petronet LNG and Timescan Logistics were the top losers. Ashok Leyland shares rose 4%, driven by strong December auto sales data. Sandur Manganese gained 3% after receiving approval to increase iron ore production, adding to the positive momentum in the market.
10:30 AM IST | 02 Jan 2025
Stock Market Live Updates | Sensex gained 0.38% to 78,818.21 | Nifty rose 0.4% to 23,835.3.
The BSE Sensex rose 0.38% to 78,818.21, while the NSE Nifty 50 gained 0.4% to close at 23,835.3. Bajaj twins and Maruti Suzuki were among the top Nifty winners. Gujarat Toolroom shares hit a 5% upper circuit, while RailTel climbed 6%. Anya Polytech listed at a 22% premium on the NSE SME platform. Kotak Mahindra Bank advanced 2% following brokerage upgrades citing strong valuations. Vodafone Idea aims to launch its 5G services by March 2025, and bond yields edged higher as traders anticipated an $88 billion supply this quarter.
09:15 AM IST | 02 Jan 2025
Stock Market Live Updates | Sensex rose 292 points (+0.37%) to 78,764.78 | Nifty gained 81.25 points (+0.34%) to close at 23,831.45.
The BSE Sensex surged by 292 points (+0.37%) to close at 78,764.78, while the NSE Nifty 50 gained 81.25 points (+0.34%) to settle at 23,831.45. Kotak Bank and Tata Motors climbed up to 2%, boosting indices. NMDC’s December iron ore production grew 5.1%, though sales fell 6.7% year-on-year. CSB Bank reported a 26% increase in Q3 gross advances, and South Indian Bank recorded 12% YoY growth. KPI Green Energy’s 1:2 bonus issue record date is scheduled for tomorrow.
08:15 AM IST | 02 Jan 2025
Stock Market Live Updates | Gift Nifty indicates a flat market start | Nifty at 23,742.90 (+0.41%) and Sensex at 78,507.41 (+0.47%).
Gift Nifty hints at a flat market opening, consolidating between 23,500 and 24,000. Nifty closed at 23,742.90, up 0.41%, while Sensex rose 0.47% to 78,507.41. Gold remains a buy on corrections. FPIs favour IPOs but exit secondary markets. Key stocks in focus include Garware Technical Fibres for its 4:1 bonus issue, Tata Motors on sales data, and RailTel, securing a ₹78.43 crore project from Bharat Coking Coal Limited.
GIFT NIFTY: Gift Nifty suggests a flat opening for the Indian markets and is likely to consolidate in the broad range of 23,500 -24,000.
INDIA VIX: 14.51 | +0.60 (0.42%) ↑ today
1- Insurers likely to have hike commercial property insurance premiums by upto 80% from Jan 1 - et now.
2- Lloyds metals and energy: co says has reported its highest-ever nine months ended iron ore production, achieving an impressive 8.6 million tonnes, marking a 5 % year-on-year (yoy) increase 3- fertiliser stocks; cabinet approved enhancement of pm fasal bima yojana (rs 69,515 cr) enhanced allocation of rs. 69,515 cr.
4- HDFC Life insurance faces ₹270.58 crore GST demand, plans to appeal.
5- FIIS net sell ₹1,782.71 crore while DIIS net buy ₹1,690.37 crore in equities yesterday.
Other Asset Classes
Treasury Yields:
The US 10-year yield rose 2.8 basis points to 4.57%, while the two-year rate dropped 1.4 basis points to 4.24%.
Currency:
The dollar index was trading near 108 levels.
Commodities:
West Texas Intermediate crude oil rose 1.2% to $71.82 a barrel. Brent crude futures was up by 0.6%, to $75.10 a barrel.
Gold rose 0.8% to $2,638.70 per troy ounce, while silver lost 0.4% to $29.28 per ounce.
Asian Markets
General Trends:
Asian stocks were set to start the New Year cautiously after wrapping up 2024, a strong year for global markets, on a less positive note.
Specific Index Performance:
Futures on benchmarks in Shanghai declined after mainland Chinese gauges tumbled in December’s final day of trading.
Australian benchmark were little changed. Fresh data showed Australian house prices declined for the first time in 22 months in December as buyers increasingly found themselves priced out of the market, while the supply of properties increased.
Japanese markets are closed through Jan. 6.
New Zealand remains on holiday, while South Korea will have a late open.
India Market Outlook
Market in Previous Session:
On January 1, Indian equity markets closed on a positive note, with the Nifty finishing above 23,700.
Sensex advanced by 368.40 points (0.47%) to 78,507.41, while the Nifty gained 98.10 points (0.41%) to settle at 23,742.90.
The index has entered its second consecutive week of consolidation, with current indicators pointing to a continuation of this trend.
Following an early dip, renewed buying interest in selected heavyweight stocks across various sectors swiftly offset the losses, steadily driving the index upward.
With the exception of realty and metal, all sectoral indices closed in the green, led by auto, power, and capital goods, each rising by 1%.
The midcap index gained 0.5%, while the small-cap index climbed 1%.
TRADE SETUP FOR JAN 02
Nifty Short-Term Outlook:
Index started the year on a positive note as it closed Wednesday session higher by 0.4%. Index has formed a bull candle with small shadows in either direction signaling consolidation with positive bias.
Going ahead, it is expected to continue its consolidation phase in the broad range of 23,450-24,000. Immediate support levels are positioned at 23,500-23,450 being the confluence of the 200-day EMA and the lower band of the rising channel.
On the higher side, 23,900-24,000 remain as stiff resistance for Nifty. Only a move above 24,000 will open further upside towards 24,250. On the downside, a move below 23,450 will signal an extension of decline towards the November low of 23,260.
Intraday Levels:
Nifty: Intraday resistance is at 23,850 followed by 23,940 levels. Conversely, downside support is located at 23,640, followed by 23,560.
Bank Nifty: Intraday resistance is positioned at 51,350, followed by 51,600, while downside support is found at 50,840, followed by 50,480.
Derivative Market Analysis
Nifty:
Highest call OI is positioned at 24500 followed by 24300 level, whereas the highest put OI is positioned at the 23000 level followed by 23200 level.
Put writers were active below 23800 indicating strong support at lower level. On the higher end, if 24100 is broken, the index can march towards 24400 levels.
According to option chain analysis, a broader range for Nifty is 23500 and 24300.
The Nifty put-call ratio is now positioned at 1.06.
Bank Nifty:
The highest call OI is positioned at 53000 followed by 52000 level, whereas the highest put OI is positioned at the 51000 followed by 50000 level.
Straddle formation is seen at 51000 making it a crucial level to watch for. Breach of 51000 can take the index towards 50500. Key resistance for the index is 52000.
According to option chain analysis, an immediate range for Bank Nifty is 51000 and 52000.
The Bank Nifty put-call ratio is now positioned at 0.93.
US Share Market News
Performance Overview:
US benchmark equity indexes closed lower on Tuesday but logged double-digit percentage gains for the year.
Markets will be closed Wednesday for New Year's Day.
Sector-Specific Movements:
The Nasdaq Composite dropped 0.9% to 19,310.8 on the last trading day of the year, while the S&P 500 fell 0.4% to 5,881.6. The Dow Jones Industrial Average lost 0.1% to 42,544.2.
For 2024, the Nasdaq jumped nearly 29%, while the S&P 500 advanced 23%. The Dow added 13%. All three indexes reached their all-time high closing levels earlier this month.
Economic Indicators:
Among sectors, technology saw the steepest decline on Tuesday, while energy led the gainers.
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