Daijiworld Media Network - Mumbai
Mumbai, Dec 24: Benchmark Indian equity indices opened on a positive note on Wednesday, buoyed by gains in global markets and consistent buying by domestic institutional investors.
The 30-share BSE Sensex rose by 115.8 points, reaching 85,640.64 in early trade, while the 50-share NSE Nifty gained 40.7 points to touch 26,217.85.
Among Sensex stocks, Bajaj Finance, NTPC, Trent, Bharat Electronics, Adani Ports, and Eternal led the gains. On the other hand, Tech Mahindra, Infosys, HCL Tech, and Sun Pharma saw losses in early trade.
Asian markets mirrored the positive trend, with South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng all trading higher. US markets had ended on a positive note on Tuesday, supporting the bullish sentiment.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said, “As 2025 comes to a close, the market is entering a consolidation phase with an upward bias. Strong domestic macros and positive earnings growth expectations for Q3 and Q4 of FY26, and for FY27, provide a solid foundation for the markets.”
He added that sustained domestic inflows and consistent buying by DIIs will provide resilience, although a sharp breakout may be limited due to possible FII selling.
Vijayakumar further noted that the RBI’s decision to conduct an additional Open Market Operation (OMO) of Rs 2 lakh crore will enhance liquidity, lower yields, and positively impact credit growth and banking stocks.
The market sentiment suggests cautious optimism as investors await further cues from global and domestic economic developments.