Stock Market Today: Sensex, Nifty Starts The Day In Green

Stock Market Today: At 10 am, the Sensex gained 198.80 points, or 0.25 per cent, to reach 78,671.67, while the Nifty rose 67.75 points, or 0.29 per cent, to settle at 23,795.40

Stock Market Today: In early trade, the Nifty PSU Bank and private bank indices each rose by nearly 1 per cent

Source : PTI

Stock Market Today: Benchmark indices Nifty and Sensex opened higher on Thursday, driven by a strong rally in banking and auto stocks, which boosted market sentiment despite some pressure from realty stocks. However, trading volumes were muted due to year-end holidays as investors closed their books for the year. Today also marks the final monthly expiry of 2024.

At 10 am, the Sensex gained 198.80 points, or 0.25 per cent, to reach 78,671.67, while the Nifty rose 67.75 points, or 0.29 per cent, to settle at 23,795.40. Of the shares traded, 1,555 advanced, 1,603 declined, and 123 remained unchanged.

"The relief rally witnessed yesterday is unlikely to continue in the coming days. External factors like the strong dollar and high bond yields, combined with internal challenges such as growth and earnings slowdown, will restrain a sustained rally," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In early trade, the Nifty PSU Bank and private bank indices each rose by nearly 1 per cent, driven by strong performances from HDFC Bank, SBI, and ICICI Bank. This rebound came after a nearly 1 per cent drop in the public sector bank index during the previous session. Auto stocks continued their upward trend for the second consecutive session, with Maruti Suzuki, M&M, and Tata Motors leading the gains. Other sectors, including Nifty FMCG, Oil and Gas, and Consumer Durables, also saw gains of up to 0.3 per cent. However, Nifty Realty was the only sector to decline, falling by 0.4 per cent.

The broader market also followed a positive trend in the morning, with both mid-cap and small-cap indices rising by 0.2 per cent. These indices have shown resilience during the recent downturn, falling just 5 per cent, significantly less than the Nifty's 9.5 per cent decline over the same period. Many market experts suggest that activity in the broader market is primarily stock-specific, with Q3 earnings expected to be a key factor in determining the market's direction.