On December 26, the Indian equity market kicked off on a positive note as both the Sensex and Nifty 50 opened higher. The Sensex rose by 247.96 points, or 0.32%, reaching 78,720.83, while the Nifty 50 gained 68.55 points, or 0.29%, to stand at 23,796.20. Early market activity was marked by a stronger number of advancing stocks, with 1,674 shares rising, 857 declining, and 182 remaining unchanged.
Among the top performers, banking and auto stocks saw significant momentum. ICICI Bank, Axis Bank, SBI, Kotak Mahindra Bank, and Maruti Suzuki were among the top gainers, reflecting strength in the banking and automobile sectors. On the flip side, TCS, Asian Paints, Tech Mahindra, HUL, and Shriram Finance were the major losers, pulling the indices down.
UltraTech Cement made modest gains of 0.30% after the company announced its acquisition of a 26% stake in Clean Max Sapphire, a renewable energy company. This move is expected to enhance UltraTech’s green energy portfolio.
The National Aluminium Company (NALCO) was another standout performer, with its stock jumping more than 2%. This surge followed news that the company had signed a mining lease deed with the District Collector of Angul for the Utkal-D and Utkal-E coal blocks. This agreement is set to bolster NALCO's coal production capacity to 4 million tonnes per annum (MTPA) and is valid until April 2051, marking a significant step in the company’s growth strategy.
As the market heads toward the year-end expiry day, these positive movements suggest a potential for a strong finish to the year for Indian equities.
