Stock Market Opens Higher, Driven by Banking Stocks Post-Christmas

The Indian stock market started the day on a positive note on Thursday, December 26, driven primarily by banking and financial services shares. This came despite major global markets in Europe and parts of Asia remaining closed due to the holiday season.

Key Market Highlights

• Sensex Performance:
  The BSE Sensex rose by 354.73 points (0.45%) to reach 78,827.60 at 9:30 am.
• Nifty Performance:
  The NSE Nifty gained 98.45 points (0.41%) to touch 23,826.10.

Top Gainers and Losers

Gainers on the Sensex:

• Maruti Suzuki India Ltd: Gained 1.16%, trading at ₹10,860.35.
• State Bank of India (SBI): Increased by 1.09%, trading at ₹820.70.
• Axis Bank: Rose by 1.07%, trading at ₹1,090.95.

Losers on the Sensex:

• Tata Consultancy Services (TCS): Dropped 0.04%, trading at ₹4,179.00.
• Tech Mahindra Ltd: Fell 0.05%, trading at ₹1,705.40.
• Asian Paints Ltd: Decreased 0.45%, trading at ₹2,273.95.

Top Nifty Performers:

• Bharat Petroleum Corporation Ltd (BPCL) led the gains, rising by 1.34%.
• Axis Bank and Maruti Suzuki followed, gaining 1.14% and 1.06%, respectively.

Sectoral Performance

Among sectoral indices:

• Nifty Bank: Advanced the most, gaining 0.77% to reach 51,626.75.
• Nifty Private Bank: Rose by 0.75%, touching 25,025.20.
• Nifty Financial Services: Increased by 0.70%, reaching 25,488.35.

Global Market Context

While Indian markets opened on a high note, most major global markets in Europe and Asia remained shut post-Christmas.

Conclusion

The stock market’s upward trajectory reflects the strong performance of banking and financial shares. Investors are optimistic, awaiting the reopening of global markets for further cues.