Auto Rally, M&M Gains, Sun Pharma Dip, and IPO Boom Outlook for 2025
Written by - Fisdom Research
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January 2, 2025
2 minutes
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Market Snapshot
The Indian benchmark indices continued their winning streak on the second day of new calendar year with Nifty crossing 24,200, intraday, on the back of buying across the sectors led by auto stocks after December sales number.
All the sectoral indices ended in the green with auto index up 3.5 percent, IT index up 2 percent, while FMCG, Metal, Oil & Gas, PSU, Realty, Bank up 1 percent each.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY AUTO
3.8
NIFTY CONSUMER DURABLES
1.9
NIFTY FINANCIAL SERVICES EX-BANK
3.4
NIFTY FINANCIAL SERVICES
1.6
NIFTY IT
2.3
NIFTY PRIVATE BANK
1.4
NIFTY MIDSMALL FINANCIAL SERVICES
2.1
NIFTY OIL & GAS
1.3
Top News
Auto stocks surged on January 2, with heavyweights like Eicher Motors, Bajaj Auto, and Maruti Suzuki gaining up to 7%, driving the Nifty Auto index to its biggest single-day gain in six months, powered by strong sales figures.
M&M shares jumped over 4% as Citi maintained its ‘buy’ rating, citing strong 2024 volume momentum driven by successful UV launches and robust tractor sales, up 22% YoY. Citi expects a good harvest season to further boost tractor volumes.
Sun Pharma’s stock fell 11.95% after selling its Japanese subsidiary to Zaza Industrial, though it has delivered 129.78% returns over three years.
IPO mop up could top Rs. 2 trillion in 2025
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,000
24,400
Bank Nifty
51,000
52,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
EICHERMOT
8.6
SUNPHARMA
-0.8
BAJAJFINSV
7.8
BRITANNIA
-0.2
BAJFINANCE
6.3
Trade Ideas Update
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