SENSEX rises 400 pts in early trade; NIFTY50 trades above 23,750; Titan surges over 2%, Zomato drops 5%

At 09:24 AM, the S&P BSE SENSEX was trading at 78,359.38, up 394.39 points, or 0.51%, while the NSE's NIFTY50 index was trading at 23,751.65, up 135.60 points, or 0.57%.

Out of 50 components in the NIFTY50 index, 43 were trading in the green, six in the red, and two remained unchanged.

On the SENSEX, 27 out of 30 stocks were trading in positive territory.

Zomato shares were the biggest loser, down over 4%.

Foreign institutional investors (FIIs) offloaded equities worth ₹2,575.06 crore on Monday, according to exchange data.

Stocks in news

After Zomato’s shares more than doubled in value in 2024, analysts at Jefferies predict that 2025 could be a breather year, with the stock likely shifting gears into a phase of price consolidation.

The brokerage cautioned that aggressive strategies by existing players and the entry of new competitors could lead to higher discounting, posing risks to Zomato's medium-term profitability.

BPCL shares were trading 1.5% higher at ₹288.95 apiece on the BSE as Bharat Petroleum Corporation Ltd's (BPCL) board has given an in-principle approval for the initial public offering of Maharashtra Natural Gas Limited (MNGL), a joint venture of BPCL, GAIL, and IGL.

The IPO size will be more than ₹1,000 crore, the company said in an exchange filing.

IGL has a 50% stake, while BPCL and GAIL hold a 22.5% stake each in the JV MNGL. The Maharashtra Industrial Development Corporation, or MIDC, also has a 5% stake in the company.

Sector Watch

All sectoral indices were trading in the green, with oil and gas counters leading the gains.

The BSE OIL & GAS index was trading at 26,579.39, up 606.55 points, or 2.34%.

Broader Market

The BSE MidCap index was trading at 46,135, up 341.93 points, or 0.75%, while the BSE SmallCap index was ruling at 54,872.05, up 534.68 points, or 0.98%.

Global Markets

Asia shares rose on Tuesday, tracking Wall Street's positive lead and as some investors hoped incoming US President-elect Donald Trump could adopt a less aggressive tariff stance than promised when he takes office.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.16% in the early Asian session, while Japan's Nikkei jumped 2%, boosted by a rally in technology stocks.

In China, the CSI300 index reversed early losses to last trade 0.12% higher, while the Shanghai Composite Index fell 0.09%.

Hong Kong's Hang Seng Index dropped 0.43%.