The Indian stock market closed on a positive note today, snapping a five-day losing streak. The BSE Sensex climbed 498.58 points (0.64%) to settle at 78,540.17, while the NSE Nifty50 surged 165 points (0.95%) to end at 23,753.45.
Out of the 30 stocks listed on the BSE Sensex, 20 ended in green. ITC, Tech Mahindra, HDFC Bank, Reliance Industries, and IndusInd Bank were the top gainers, while Zomato, Maruti, and HCL Tech lagged behind. Over on the NSE, 32 out of 50 stocks closed higher.
The BSE Midcap index edged up by just 0.10%, while the BSE SmallCap dipped by 0.60%.
Impact on the stock market
On a sectoral level, most indices ended in the green. The Nifty Realty index emerged as the top performer, climbing by 1.47%. It was followed by Nifty Bank (1.10%), Nifty FMCG (0.96%), and Nifty Financial Services (0.82%).
However, not all sectors participated in the rally. Nifty Media, Healthcare, and Auto sectors ended the day in red, reflecting some caution in specific segments.
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| Sector/Index | Performance |
| IT & BPM sector | 0.13% |
| Healthcare sector | -0.04% |
| Oil & Gas sector | 0.77% |
| Real estate sector | 1.47% |
| PSU Bank in India | 1.08% |
Top gainers today
| Company | Price | Change % |
| JSW Steel Share Price | 937.05 | 2.15 |
| ITC Share Price | 474.25 | 2.07 |
| Hindalco Share Price | 634.15 | 1.85 |
| IndusInd Bank Share Price | 945.70 | 1.75 |
| Trent Share Price | 6,946.00 | 1.68 |
Top losers today
| Company | Price | Change % |
| Hero Motocorp Share Price | 4,272.60 | -1.55 |
| Maruti Suzuki Share Price | 10,822.00 | -0.73 |
| Nestle Share Price | 2,151.60 | -0.55 |
| HCL Tech Share Price | 1,903.00 | -0.44 |
| Bajaj Finserv Share Price | 1,563.40 | -0.40 |
Market aftermath: Impact on stocks
JBM Auto rallies 5% on securing a massive contract
JBM Auto saw its shares jump by 5% to ₹ 1,720 after the company announced that its subsidiary, JBM Ecolife Mobility, secured a ₹ 1,800 crore contract. This deal involves the procurement, operation, and maintenance of 343 electric buses for Ahmedabad. This contract highlights the growing emphasis on electric mobility and public transport solutions.
The company’s shares have already surged by 17% over the past month. In October, JBM Auto approved a stock split, reducing the face value of shares from ₹ 2 to ₹ 1. This was the second split since 2022 when shares were split from ₹ 5 to ₹ 2.
India Cements surges 11% after CCI clears UltraTech deal
India Cements experienced a significant jump of 11% following the Competition Commission of India (CCI)’s approval of UltraTech Cement’s ₹ 7,000 crore acquisition deal. The approval was granted on December 20 after initial regulatory scrutiny. This deal will allow UltraTech, led by Kumar Mangalam Birla, to acquire a majority stake in India Cements.
This acquisition comes as UltraTech aims to consolidate its position in the cement industry, countering increasing competition from the Adani Group. The move signals further consolidation within the sector, which could impact future pricing and market dynamics.
Intellect Design rises 10% after launching ‘Purple Fabric’ AI system
Intellect Design shares climbed 10% in early trade, driven by strong volumes following the launch of their new AI platform, Purple Fabric. This platform is designed specifically for the financial and insurance sectors, aiming to streamline enterprise operations such as claims settlement.
The AI-based tool leverages Large Language Models (LLMs) and offers document management and data integration solutions. By enhancing customer service and simplifying product development, Intellect Design hopes to carve out a significant niche in AI-driven enterprise software.
Investor confidence soared after the company presented the platform to analysts and institutional investors last week, reinforcing expectations of higher growth.
Crude oil futures rise after the US avoids shutdown
Crude oil futures saw a modest rise today, driven by relief in global markets after the US Congress passed a spending bill, averting a government shutdown.
- March Brent oil futures rose to $72.93 (up 0.51%).
- February WTI crude futures increased to $69.86 (up 0.58%).
- On the MCX (Multi Commodity Exchange), January crude oil futures were trading at ₹ 5,961 (up 0.39%).
The market reacted positively after US President Joe Biden approved the bill, ensuring government funding until March. This development is crucial as a shutdown could have dampened holiday travel and reduced demand for oil.
Additionally, lower-than-expected PCE price index data in the US bolstered hopes of rate cuts in 2025, adding further support to crude prices.
Conclusion
Today’s market performance reflects a mix of optimism and caution. While Sensex and Nifty ended on a positive note, sector-specific movements indicate that investors are still selective. Key stocks like JBM Auto, India Cements, and Intellect Design witnessed significant gains, driven by contract wins, regulatory approvals, and product launches.
Crude oil’s uptick signals broader economic stability, at least for now. As we head toward the year-end, market sentiment will likely depend on global economic cues, upcoming earnings reports, and policy decisions.
Keep an eye on these factors as they could shape market trends in the coming weeks.
For more stock market insights, check out the StockGro blog.
