Mahindra, Maruti Lead Gains, Bajaj Auto Struggles with Domestic Decline
Written by - Fisdom Research
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January 1, 2025
2 minutes
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Market Snapshot
Indian equity markets began the new year positively, with benchmark indices ending higher on January 1.
Nifty closed near 23,750, supported by broad-based buying across most sectors.
Auto, power, and capital goods indices gained 1% each, while metal and realty sectors ended in the red.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY AUTO
1.3
NIFTY PRIVATE BANK
0.5
NIFTY MEDIA
0.8
NIFTY BANK
0.4
NIFTY CONSUMER DURABLES
0.8
NIFTY FMCG
0.4
NIFTY FINANCIAL SERVICES
0.5
NIFTY HEALTHCARE INDEX
0.3
Top News
Mahindra’s SUV sales surged 18% YoY in December to 41,424 units, driven by strong demand, pushing its shares up 2%.
Maruti Suzuki shares rose 3% after reporting a 30% YoY jump in December sales to 1,78,248 units, including record monthly exports of 37,419 units.
Bajaj Auto shares fell 3% to a 9-month low as December sales dipped 1% YoY to 3.2 lakh units, with domestic two-wheeler sales declining 19% despite a 15% rise in exports.
IPO mop up could top Rs. 2 trillion in 2025
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,550
24,000
Bank Nifty
50,500
51,800
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
MARUTI
3.0
HINDALCO
-1.4
M&M
2.4
DRREDDY
-1.1
LT
1.7
ADANIPORTS
-1.0
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