Indian stock indices are on a strong footing at the start of 2025. The Sensex and Nifty rallied both on January 1 and January 2.
Indian benchmark indices ended higher on January 02.
Sensex ended 1,436.30 points higher at 79,943.71, whereas Nifty concluded 445.75 points up at 24,188.65.
Biggest Nifty gainers were Bajaj Finserv, Eicher Motors, Bajaj Finance, Maruti Suzuki, Shriram Finance were while losers included Britannia Industries, Sun Pharma.
Indian rupee ended 9 paise lower at 85.75 per dollar on Thursday against Wednesday’s close of 85.64.
In the previous season, Sensex ended 368.40 points higher at 78,507.41, whereas Nifty concluded 98.10 points up at 23,742.90.
Experts stated that the upcoming Q3 results season will now decide the market’s movement. Afterwards, the market is expected to shift focus towards expectations from the Union Budget and the policy decisions of the Trump 2.0 administration.
“Trump 2.0 start remains the main global event of the month and year,” Ajay Bagga, a veteran banking and market expert.
Financial services firm Geojit’s Head Investment Strategist, Gaurang Shah, asserted better than expected advance tax collection numbers, firm GST collections, strong Q3 outlook for some sector, boosted market sentiments. He expects some profit booking going ahead.
Goods and Services Tax (GST) collections in December, in gross terms, were at Rs 1.76 lakh crore, with a yearly jump of 7.3 per cent. So far in 2024-25, the total GST collection has been 9.1 per cent higher at Rs 16.33 lakh crore, as against Rs 14.97 lakh crore mopped up in the corresponding period of 2023.
