As of January 2, 2025, the Indian stock markets have shown a strong start to the year, supported by robust performances in the IT and banking sectors. The BSE Sensex climbed 700 points, reaching 79,200, while the Nifty 50 tested the 23,950 mark. This significant upward movement reflects investor confidence in key sectors.
The banking sector contributed significantly, with financial stocks gaining 0.5%. Positive broker reports citing stable asset quality and attractive valuations drove this growth. Kotak Mahindra Bank stood out, rising 2% after receiving “buy” upgrades from Citi and Jefferies. Similarly, CSB Bank gained 4%, fueled by a substantial increase in gross advances.
The IT sector also performed well, recording a 1% rise. This growth was driven by expectations of stronger earnings and improved revenue growth, supported by favorable U.S. demand and a depreciating rupee. The sector’s strong performance highlights its resilience and potential for further growth.
These developments indicate a promising start for Indian equities in 2025. With key sectors showing strength, the market reflects optimism and opportunities for sustained growth.
