Market wrap: Markets start the new year on a positive note; SENSEX and NIFTY close 0.5% higher

Indian benchmark indices closed the first trading session of the new year on a positive note, with NIFTY50 and SENSEX closing 0.5% higher on Wednesday. Markets opened flat in the morning session and slid 100 points lower on NIFTY50 in early morning deals. However, during the mid-market session, markets recouped all the losses to trade in green and closed nearly 100 points higher at the end of the day.

Similarly, in tandem with the benchmark indices, broader indices closed higher on the first trading session of 2025. The NIFTY midcap 100 closed 0.4% higher, and the small-cap 100 outperformed all others by gaining 1% higher on Wednesday.

Top gainers and losers

The top gainers on NIFTY50 were Maruti Suzuki up by 3.22%, Mahindra & Mahindra up by 2.49%, Larsen & Toubro up by 1.66%, Bajaj Finance up by 1.65% and Eicher Motors up by 1.31%. On the flip side, Hindalco down by 1.58%, Dr. Reddy's Lab down by 1.40%, Adani Ports down by 1.01%, ONGC down by 0.96% and Tata Steel down by 0.95% were the top losers.

Market Statistics

Of the 2892 stocks traded on the NSE, 2048 closed in green, and 766 closed in red. Similarly, 46 stocks hit a 52-week high, while 34 stocks fell to a new 52-week low. Broadly, 166 stocks were locked in the upper circuit and 42 in the lower circuit.

Stock Specific developments

Chart check

NIFTY50 managed to close above the 200 DEMA on a daily chart at 23742. The 200 DEMA levels of 23,680 acted as strong resistance for the past few trading sessions.