News Business Sensex rises over 300 points, Nifty hits day’s high; Tata Motors rises 2 per cent

Sensex rises over 300 points, Nifty hits day’s high; Tata Motors rises 2 per cent

Nifty and Sensex opened flat on December 24 amid market pressure from a strong dollar and high US bond yields. Gain insights on sectoral performance, top gainers, and mixed trends in Asian markets.

Sensex stock market Image Source : FILESensex rises over 300 points, Nifty hits day’s high

Indian stock markets opened marginally higher on Tuesday, December 24, ahead of the Christmas holiday. However, pressure from a strengthening US dollar and high bond yields has continued to weigh on the markets, reducing the likelihood of a year-end rally.

The Nifty 50 index opened at 23,769.10, gaining 15.65 points, or 0.07%, while the BSE Sensex started at 78,707.37, up 167.20 points, or 0.21%.

The persistent strength of the US dollar and elevated bond yields are driving foreign institutional investors (FIIs) to sell during market rallies. This external factor, combined with internal concerns about growth and earnings slowdowns, is expected to limit market recovery in the near term.

Market expert V K Vijayakumar from Geojit Financial Services commented, “The relief rally witnessed yesterday is unlikely to have a free run in the coming days. External factors, such as the strong dollar and high bond yields, and internal factors like growth and earnings slowdown, will restrain the bulls. Investors should prioritize safety over returns in this environment.”

Sectoral Performance and Stock Movers

Among sectoral indices, Nifty Auto, Nifty FMCG, Nifty IT, Nifty Media, and Nifty PSU Bank showed gains, while other sectors faced pressure.

Top Gainers and Losers:

Out of the Nifty 50 stocks, 31 opened higher while 19 declined.

  • Top gainers: Britannia, TCS, Tata Motors, Nestle India, and Hero Motors.
  • Top losers: JSW Steel, IndusInd Bank, and Shriram Finance.

Mixed Trend in Asian Markets

Elsewhere in Asia, markets showed a mixed trend:

  • Declines: Japan’s Nikkei 225 and South Korea’s KOSPI were down.
  • Gains: Taiwan’s Weighted, Hong Kong’s Hang Seng, and Indonesia’s Jakarta Composite posted marginal gains.

Investor Advice

With year-end uncertainty looming, experts recommend that investors focus on preserving capital and staying cautious, as external and internal pressures continue to challenge market stability.

Also read | PM Modi chairs meeting with economists, sectoral experts in Delhi

 

 

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