Stock Market Updates: Sensex goes above 600 points and Nifty is up too.

Sensex Surges Over 600 Points; Nifty Rallies Strongly

Written by: Supriya Kadu

Edited by: Pinky Deshmukh

Last Updated: January 02, 2025

Summary: The BSE Sensex and Nifty50, two main equity indices in India, opened Thursday higher.

As major foreign markets reopened following the New Year's Day holiday, the benchmark Indian equity indices, the BSE Sensex and Nifty50, were trading higher on Thursday, bolstered by various global cues.

The BSE Sensex was up 304 points, or 0.39%, at 78,811.80 at 10 AM, while the Nifty50 was up 91 points, or 0.38%, at 23,833.95.

12 of the 30 Sensex stocks were down after the market started, with Adani Ports & SEZ leading the pack with losses (down 0.37%), followed by NTPC, TCS, Sun Pharma, and Bharti Airtel. On the plus side, Infosys, Zomato, Bajaj Finserv, Kotak Mahindra Bank, and Bajaj Finance all saw increases.

With losses led by Wipro (down 0.82%), Hero MotoCorp, NTPC, Britannia Industries, and Adani Enterprises, 27 of the 50 companies on the Nifty50 were down.

Sector-wise, the Nifty Bank, Auto, Financial Services, Media, and Oil indexes increased, while the Metal, Pharma, FMCG, IT, Realty, Healthcare, and Consumer Durables indices experienced pressure.

The Nifty Midcap 100 and Nifty Smallcap 100 indices increased by 0.03% and 0.04%, respectively, reflecting modest advances in the overall markets.

As several global markets resumed trading on Thursday following the New Year's Day holiday, Asian stocks displayed a mixed performance. The Kosdaq rose 1.01%, while the South Korean stock exchange's Kospi fell 0.02%.

The Mainland The Shanghai Composite dropped 0.46%, Hong Kong's Hang Seng Index fell 1.78%, and China's CSI 300 fell 0.74%.

While Japanese markets were closed on Thursday and Friday due to a bank holiday, Australia's S&P/ASX 200 saw a 0.41% increase.