MUMBAI: Benchmark indices, Sensex and Nifty continued their upward trajectory for the second consecutive session, driven by a rally in automobile stocks.
The S&P BSE Sensex rose 226.59 points to close at 78690.07, while the NSE Nifty50 added 63.20 points to settle at 23813.40. Broader market indices also closed in the green as volatility declined, with Nifty Auto and Nifty Pharma leading the sectoral gainers.
Top performers on the Nifty50 included Dr Reddy’s, IndusInd Bank, M&M, Tata Motors, and Eicher Motors. Meanwhile, Hindalco, SBI, Coal India, ONGC, and BEL ended as the session’s top losers.
Vinod Nair, Head of Research at Geojit Financial Services, commented, “Trading during Christmas week ended on a subdued note due to a lack of major triggers and caution ahead of the swearing-in of the US Republican Party administration.”
He further noted, “The rupee hit a new low, weighed down by expectations of fewer Fed rate cuts, a widening trade deficit, and sluggish economic growth. However, the auto index outperformed, supported by expectations of improved December volumes and attractive valuations.”
