Sensex Surges as Optimism Reigns in Financial Markets

The Sensex rallied 1,436 points to achieve a two-week high on Thursday, driven by financial, auto, and IT stocks. Market optimism tied to the upcoming earnings season spurred gains, with Bajaj Finance, Maruti, and Infosys leading the charge. Despite broader Asia's decline, domestic indices posted strong performances.

The benchmark Sensex achieved a two-week high, surging by 1,436 points driven by interest in financial, auto, and IT shares. This gain extended the positive market trend into the New Year.

Thursday's 1.83% jump was the largest one-day gain in over a month, settling at 79,943.71. Throughout the session, Sensex peaked at 80,032.87.

Nifty rose by 445.75 points, ending at 24,188.65, with 48 constituents closing in the green, signaling broad-based sectoral advancement.

Bajaj firms led gains with Bajaj Finserv up by nearly 8% and Bajaj Finance over 6%. Other major contributive stocks included Maruti, Titan, Mahindra, Infosys, and HCL Tech, while Sun Pharma was the only laggard.

The market rally was fueled by optimism for the upcoming earnings season starting next week. The auto sector drove momentum with exemplary December sales, and banking and IT stocks also performed well.

Sectoral indices rose, particularly auto, IT, and consumer sectors, proving robust demand amid a positive economic outlook, as indicated by a modest drop in PMI to 56.4.

While Asian and European markets saw declines and US markets were closed, Sensex benefited from increased investor confidence, despite FIIs selling equities worth Rs 1,782.71 crore.

(With inputs from agencies.)