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Post Session: Quick Review
Jan-01-2025

Indian equity benchmarks erased their losses in early trade and held the gains till the end on the first trading day of 2025. Despite lack of cues from global markets, markets ended the session with gains of near about half a percent. As for broader indices, the BSE Mid cap index and Small cap index witnessed healthy performance. Sector wise, Auto sector stocks particularly gained as many automakers released sales data.

After making cautious start, markets traded lower for little time amid foreign fund outflows. Data from the National Securities Depository showed that India experienced a drastic drop in Foreign Portfolio Investment (FPI) inflows in 2024, with net investments falling by 99 per cent compared to the previous year. The data highlighted that the net FPI inflows came down from Rs 1.71 lakh crore in 2023 to just Rs 2,026 crores in 2024. Some cautiousness came as the government data showed that the output of eight key infrastructure sectors slowed down to 4.3 per cent in November 2024 against 7.9 per cent growth registered in the same month last year. On a monthly basis, the production growth of these sectors last month rose to a four-month high. However, markets managed to gain traction in late morning session. Traders took support with a report by economic think tank Global Trade Research Initiative (GTRI) stating that India's overall exports of goods and services in 2024 has estimated to cross $814 billion, an increase of 5.58 per cent. In 2023, the country's merchandise and services exports stood at $768.5 billion. Indices continued to trade higher in afternoon session. Sentiments remained upbeat as the Reserve Bank of India (RBI) in its latest report ‘Sectoral Deployment of Bank Credit - November 2024’ has showed that credit to agriculture and allied activities registered a growth of 15.3 per cent (y-o-y) as on the fortnight ended November 29, 2024 (18.1 per cent for the corresponding fortnight of the previous year). Finally, Nifty and Sensex settled above the psychological 23,700 and 78,500 levels respectively.

On the global front, European markets remained closed for New Year's Eve. Back home, Indian banks’ loan growth moderated for a fifth straight month in November, as lenders continued to rein in unsecured and personal loans after the Reserve Bank of India’s crackdown on ‘exuberant’ lending.

The BSE Sensex ended at 78,507.41, up by 368.40 points or 0.47% after trading in a range of 77,898.30 and 78,756.49. There were 23 stocks advancing against 7 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index gained 0.50%, while Small cap index was up by 1.03%. (Provisional)

The top gaining sectoral indices on the BSE were Auto up by 1.23%, Capital Goods up by 1.22%, Industrials up by 1.17%, Power up by 0.94% and Telecom was up by 0.76%, while Realty down by 1.13% and Metal down by 0.11% was the only losing indices on BSE. (Provisional)

The top gainers on the Sensex were Maruti Suzuki up by 3.02%, Mahindra & Mahindra up by 2.31%, Larsen & Toubro up by 1.93%, Bajaj Finance up by 1.62% and Tata Motors up by 1.15%. On the flip side, Tata Steel down by 0.98%, Adani Ports &Special down by 0.82%, Zomato down by 0.54%, HCL Tech. down by 0.27% and SBI down by 0.21% were the top losers. (Provisional)

Meanwhile, Ministry of Commerce & Industry in its latest data has showed that the output of eight core industries rose 4.3 per cent year-on-year in November 2024 primarily due to an uptick in production of coal, cement and steel. In November 2023, the core sector had grown by 7.9 per cent on year, and in October by 3.7 per cent. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Steel production having 17.92 per cent weight increased by 4.8 per cent in November, 2024 over November, 2023, and its cumulative index increased by 5.9 per cent during April to November, 2024-25 over corresponding period of the previous year. Fertilizer production having 2.63 per cent weight increased by 2.0 per cent in November, 2024 over November, 2023, and its cumulative index increased by 1.6 per cent during April to November, 2024-25 over corresponding period of the previous year. Cement production having 5.37 per cent weight increased by 13.0 per cent in November, 2024 over November, 2023, and its cumulative index increased by 3.1 per cent during April to November, 2024-25 over corresponding period of the previous year. 

Petroleum Refinery production having 28.04 per cent weight increased by 2.9 per cent in November, 2024 over November, 2023, and its cumulative index increased by 2.7 per cent during April to November, 2024-25 over corresponding period of the previous year. Coal production having 10.33 per cent weight increased by 7.5 per cent in November, 2024 over November, 2023, and its cumulative index increased by 6.4 per cent during April to November, 2024-25 over corresponding period of the previous year. Electricity generation having 19.85 per cent weight increased by 3.8 per cent in November, 2024 over November, 2023, and its cumulative index increased by 5.3 per cent during April to November, 2024-25 over corresponding period of the previous year.  

However, Natural Gas production having 6.88 per cent weight declined by 1.9 per cent in November, 2024 over November, 2023, while its cumulative index increased by 1.1 per cent during April to November, 2024-25 over corresponding period of the previous year. Crude Oil production having 8.98 per cent weight declined by 2.1 per cent in November, 2024 over November, 2023 and its cumulative index fell by 2.4 per cent during April to November, 2024-25 over corresponding period of the previous year.  

The CNX Nifty ended at 23,742.90, up by 98.10 points or 0.41% after trading in a range of 23,562.80 and 23,822.80. There were 36 stocks advancing against 14 stocks declining on the index. (Provisional)

The top gainers on Nifty were Maruti Suzuki up by 3.22%, Mahindra & Mahindra up by 2.49%, Larsen & Toubro up by 1.66%, Bajaj Finance up by 1.65% and Eicher Motors up by 1.31%. On the flip side, Hindalco down by 1.58%, Dr. Reddy's Lab down by 1.40%, Adani Ports down by 1.01%, ONGC down by 0.96% and Tata Steel down by 0.95% were the top losers. (Provisional)
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