Sensex Up By 447 Points To 85,429, Nifty Climbs Above 25,950; ICICI Prudential AMC Lists With 19% Gain

The Indian stock market ended the week on a strong note, with benchmark indices hitting fresh highs amid positive investor sentiment. The BSE Sensex surged 447 points, ending its session at 84,929, while the NSE Nifty 50 ended its day by gaining 151 points to 25,966, driven by gains in key large-cap heavyweights and positive corporate news.

Factors Comprised in Today's Market Upswing

Reliance Industries, HDFC Bank and other index heavyweights led gains amid positive investor sentiment on earnings and global cues. The strong debut of the ICICI Prudential AMC further enhanced market sentiment, with a pullback in the Japanese yen relative to the INR also being supportive.

The Sensex opened with a 275-point gap-up and touched an intraday high of 85,067.

Trading on the NSE saw the Nifty 50 stuck between the 25,905-25,993 range without any noticeable retracement seen at its upper range.

Top Gainers and Losers

Sensex Movers (Gainers):

Bharat Electronics (BEL )+2%

Power Grid Corporation +2%

Tata Motors PV (TMPV) +2%

Asian Paints, Reliance Industries, L&T, Bajaj Finance & Bajaj Finserv +1%

Sensex Movers (Losers):

HCL Technologies (HLCTA) -1%

Kotak Bank, ICICI Bank, TCS ended lower

Broader Market Performance:

BSE MidCap and SmallCap indices outperformed by gaining ~1.3% each.

The market breadth was quite positive with about two shares advancing to every one that fell.

ICICI Prudential AMC Makes a Strong Debut

ICICI Prudential AMC floated on the market at ₹2,662, 2.45% more than its weak debut price of ₹2,509 last week.

The successful listing was a show of confidence by investors in the fund management company’s growth prospects. According to analysts there is a steady long-term outlook for the company on the basis of its equity portfolio, which is very strong in generating profits.

Other Notable Stock Movements

Shriram Finance went up by 5% after a confirmation regarding its 20% stake sale to MUFG Bank led to an investment of ₹39,618 crore.

Lenskart Solutions climbed towards an all-time high of ₹448.90 with a massive 10% surge as volumes piled up.

JK Tyre & Industries gained 7% in particular while Ceat, Apollo Tyres, TVS Srichakra, and MRF also did well.

The parent company of Groww, Billionbrains Garage Ventures, one in the bucket of up in price in reactions to a 'buy' initiated at Jefferies.

Global Cues and Sector Highlights

Wall Street ended higher, with S&P 500 up by 0.79% and Nasdaq climbing by 1.38%, boosting hawkish sentiments of investors.

Bank of Japan has decided to increase the interest rates by 25 bps to reach the 30-year peak, thereby setting the context of worldwide liquidity flow.

The energy, IT, and financials sectors seemingly dominated laggards, with Nifty IT marking up its new high, up by 1% on the account of very strong Accenture Q1 guidance.

Technical Outlook

Nifty-50 moved way further on the positive side by trading above all of its key moving averages, hindering any bearish development.

Immediate resistance is at 26,000, while a strong foundation is placed towards 25,900.

If suggested analysts, the decisive close beyond 26,000 can accelerate the process toward 26,100–26,200, whereas a break below the support could open the gate back to the 25,800 level.

Market Summary

BSE Sensex: 84,929.36, ↑ 447.55 points (0.53%)

NSE Nifty 50: 25966.40, ↑ 150.85 points (0.58%)

BSE Midcap: ↑1.26%

BSE SmallCap: ↑1.25%

Strong IPO activity, strong corporate results, and global lifts ended the trading day in a high note setting up for positive vibes over the year's end.