Synopsis
Indian indices began 2025 positively, with Sensex rising 368 points and Nifty gaining 98 points, driven by auto and banking stocks. Analysts foresee resistance near 24,000; Q3 earnings growth will determine trend sustainability. Agencies Indian benchmark indices started 2025 on a positive note on Wednesday aided by buying trends in most sectors, particularly in auto and banks. While the S&P BSE Sensex settled at 78,507.41, up by 368.40 points or 0.47%, the broader Nifty closed at 23,742.90, higher by 98.10 points or 0.41%.
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services called the beginning of 2025 positive with broad-based recovery. However, the sustainability of the trend will depend on the earnings growth in Q3, where the expectation is positive on a QoQ basis, he said.
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The index remained volatile but maintained a positive bias throughout the day. Short-term sentiment appears strong, with the index rising for the second consecutive session. However, the key hurdle remains the index’s position below the 200-day moving average (200 DMA). The ongoing rally may face resistance around 23,900–24,000. A decisive move above 24,000 could trigger an extension towards 24,500. On the downside, support is seen at 23,550.
Ajit Mishra, Religare Broking The markets began the calendar year on a positive note, gaining nearly half a percent. After an initial decline, buying interest in select heavyweight stocks across sectors quickly erased losses, gradually pushing the index higher. As a result, the Nifty reclaimed its long-term moving average, the 200 DEMA, and ended at 23,742.90. The index has now entered its second week of consolidation, and current indicators suggest that this trend is likely to persist.
Shrikan
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