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The domestic markets on Wednesday entered the year 2025 on a slightly positive note, with the BSE Sensex rising 126 points at 78,265.07 and the NSE Nifty trading up by 23 points at 23,665.
Sensex Today.
The domestic markets on Wednesday entered the year 2025 on a slightly positive note, with the BSE Sensex rising 126 points at 78,265.07 and the NSE Nifty trading up by 23 points at 23,665. Global markets remain closed on account of the New Year celebrations. However, the markets succumbed to the selling pressure and subsequently entered negative territory marginally.
Among the 30 Sensex companies, 16 stocks were in green. Sun Pharma, Asian Paint, Infosys, HCL Tech and Bajaj Finserv were the top gainers rising by up to 0.72 per cent. However, among the top losers were UltraTech Cement, ICICI Bank, Adani Ports, Kotak Mahindra Bank, and Tata Steel falling up to 0.58 per cent.
V K Vijayakumar, chief investment strategist at Geojit Financial Services, said, “The New Year begins on a sombre note for the Indian equity market. The near-term trend appears weak with the macro construct dominated by weak GDP and earnings growth. The headwinds from a strong dollar (the US dollar index is at 108.5 per cent) and high US bond yields will impact the market through more FII selling, at least in the early days of 2025. Even though FII selling is matched by DII buying, in this tug of war, in the near-term, sentiments are on the side of FIIs since valuations continue to be elevated and growth and earnings are yet to show signs of recovery.”
A trend reversal may happen if the Q3 corporate results indicate a recovery in earnings. But an across the board sharp recovery appears unlikely. Positive cues can come from a growth-stimulating Budget followed by a rate cut by the MPC in February, he added.
“Investors should be cautious and watch for potentially market moving macro data,” Vijayakumar said.