Stock Market Today: Nifty Above 23,900, Sensex Rises Over 500 Points

Tata Motors, M&M, IndusInd Bank, Bajaj Finance and Maruti were the top gainers on the BSE Sensex. HCL Tech, Power Grid, TCS and L&T were the major laggards

Experts believe the broader market trend remains positive, with the current correction viewed as a healthy adjustment within an ongoing uptrend, rather than an indication of a shift to a bearish phase

Source : ABPLIVE AI

Indian benchmark indices Nifty and Sensex began the session on a positive note, supported by gains in banking and auto stocks, while healthcare stocks struggled in negative territory. The small-cap index led the gains, rising 0.5 per cent, outperforming both the frontline and mid-cap indices. However, trading volumes were subdued, reflecting the year-end holiday slowdown as investors wrapped up their books for the year.

At 10 am, the Sensex gained 492.55 points, or 0.63 per cent, closing at 78,965.03, while the Nifty rose 162.10 points, or 0.68 per cent, to 23,912.30. Of the total shares traded, 1,923 advanced, 1,148 declined, and 136 remained unchanged.

Tata Motors, M&M, IndusInd Bank, Bajaj Finance and Maruti were the top gainers on the BSE Sensex. HCL Tech, Power Grid, TCS and L&T were the major laggards. 

Market experts indicate that as we look ahead to 2025, attention is shifting to the US Federal Reserve's upcoming interest rate decisions and possible changes in tariff policies under Donald Trump, once he takes office on January 20.

Experts believe the broader market trend remains positive, with the current correction viewed as a healthy adjustment within an ongoing uptrend, rather than an indication of a shift to a bearish phase.

In the morning, Nifty Bank and Auto were the top gainers, advancing by up to 0.7 per cent. Both private and public sector banks saw gains, with HDFC Bank, SBI, and ICICI Bank rising by up to 1 per cent. Auto stocks also performed well, led by four-wheelers such as Maruti Suzuki, Tata Motors, and M&M. Nifty Metal, Pharma, and Consumer Durables also saw early gains.

The broader market had a positive start, with the midcap index up 0.2 per cent and the smallcap index rising 0.3 per cent. According to several market experts, activity in the broader market remains largely stock-specific, and investors are advised to exercise caution, focusing on stocks with strong earnings visibility and attractive valuations. Over the past three months, the midcap 100 and smallcap 100 indices have fallen by just 5 per cent, while Nifty has dropped nearly 10 per cent.