As of January 2, 2025, the Indian stock markets have shown positive momentum, with significant contributions from the IT and banking sectors.
The BSE Sensex has risen by approximately 700 points, reaching around 79,200, while the Nifty 50 index is testing the 23,950 mark.
This upward movement is largely attributed to strong performances in financial and IT stocks.
Financial stocks have gained around 0.5%, supported by positive broker reports indicating stable asset quality and attractive valuations.
The IT sector has seen a 1% rise, driven by expectations of stronger earnings and improved revenue growth, bolstered by favorable U.S. demand and a depreciating rupee.
Notable individual stock performances include Kotak Mahindra Bank, which has risen by 2% following upgrades to “buy” by Citi and Jefferies, and CSB Bank, which has gained 4% after reporting a substantial increase in gross advances.
These developments suggest a positive start to the year for Indian equities, with key sectors showing robust performance.
