This mild average recovery was reflected in the Indian Stock Market today as the Sensex closed at 78,199, showing a slightly positive trend.
The BSE 200 closed at 10,920 which was considerably supplemented by the good performance from many shares. Lead the charge Biocon which raised over 6 per cent. Zydus Life and Max Healthcare raised both over 4 per cent. ICICI General Insurance and ONGC supported the upward movement with gains of more than 3 per cent, while GIC Re, Suzlon and Oil India also posted good performances.
Nifty 50 ends at 23,707, led by an ONGC surge of over 3% and a SBI Life increase of more than 2%. Other redeeming gains included HDFC Life, Tata Motors and Adani Enterprises.
Nifty Bank closed at 50,202 with the lead coming from AU Small Finance Bank that rose 2.3% and Bank of Baroda which gained over 1%. Other banks include ICICI Bank, Punjab National Bank, and IndusInd Bank, contributing to the bullishness.
Nifty Next 50 closed at 50,202, with major contributions by Zydus Life and ICICI General Insurance, as the former’s stock added almost 4% and the latter almost 3%. Other contributors to supporting recovery were Adani Green, BHEL, Adani Power and Bank of Baroda.
Overall, this market has today been very positive for recovery after yesterday’s major losses, and analysts predict that with continued buying interest, Sensex may cross the 80,000 mark in the next few weeks.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Also read: Bearish Day for Markets: Sensex Dips Below 78,000, Key Sectors Under Pressure
Published on: January 6, 2025 at 7.30 PM GMT.
8th January is celebrated as World Typing Day!
Projection of Economic Growth in India:
India’s government has announced its growth expectation for the year 2024/25 at 6.4% by considering the fiscal year as the slowest in the last four years. The slowdown is attributed to a lower manufacturing performance along with decreased investments from corporates.
As stated in Bhagavad Gita : (Bhagavad Gita 18.54)
ब्रह्मभूतः प्रसन्नात्मा न शोचति न काङ्क्षति।
One who is transcendentally situated is not disturbed by the dualities of happiness and distress.
