Indian equities posted modest gains on Thursday following a positive lead from U.S. markets, which began their traditional Santa Claus rally during the lighter trading sessions before Christmas.
The S&P/BSE Sensex index climbed 120 points, or 0.1%, reaching 78,594 in early trading, recovering from its most challenging week in over two and a half years. In parallel, the NSE Nifty index rose by 46 points, or 0.2%, hitting 23,773, as traders anticipated the upcoming expiration of monthly derivative contracts.
Within the Nifty group, stocks like Maruti Suzuki India, Bharti Airtel, Adani Ports, SBI Life, and BPCL saw increases ranging from 1% to 2%. In contrast, TCS, Asian Paints, Cipla, Tech Mahindra, and Trent experienced slight declines.
Recently listed NTPC Green Energy saw its shares drop 5.3% as the one-month lock-in period for shareholders concluded. Meanwhile, India Cements made slight gains following the announcement that N Srinivasan, its former promoter, had stepped down immediately from his roles as managing director and CEO.
Ola Electric Mobility enjoyed a 2.2% rally, having expanded its retail presence to 4,000 stores nationwide—a substantial increase from the 800 reported on December 2. Indian Oil Corporation shares ticked up by 0.5% following the announcement of its Rs 61,000 crore investment plan to establish a naphtha cracker facility in Paradip, Odisha.
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