Closing Bell: Market Ends With Mild Gains; Sensex & Nifty Post Gains Of 1% This Week; Banks Lead Gains

The Indian stock market closed higher on Friday, December 27, with the Sensex and Nifty 50 ending the day in the green, although off their intraday highs. Gains were supported by strong performances in banking and auto heavyweights such as Mahindra and Mahindra (M&M), IndusInd Bank, and Tata Motors amid mixed global cues.

The BSE Sensex rose by 227 points, or 0.29%, to close at 78,699.07. The Nifty 50 index gained 63 points, or 0.27%, to end the session at 23,813.40.

The Sensex opened at 78,607.62, slightly higher than its previous close of 78,472.48, and fluctuated between an intraday high of 79,043.15 and a low of 78,598.55. Similarly, the Nifty touched an intraday high of 23,938.85 and a low of 23,800.60 before closing above the 23,800 mark.

Among Sensex constituents, M&M, IndusInd Bank, Bajaj Finance, and Tata Motors emerged as the top gainers, rising 1-2%. Key contributors to the index's gains included ICICI Bank, HDFC Bank, Infosys, and Reliance Industries.

On the flip side, the PSU Bank index underperformed, declining by 0.89%, while Nifty Metal, Oil & Gas, and Realty indices also closed lower, shedding up to 1%.

The broader BSE Midcap index fell 0.08%, underperforming the Sensex, while the Smallcap index gained 0.28%, reflecting a mixed performance in midcap and smallcap stocks.

Nifty Pharma rose 1.30%, led by buying interest. Nifty Auto climbed over 1% ahead of monthly sales data. Nifty Bank gained 0.27%, supported by a 0.49% rise in the Private Bank index. PSU Bank Index declined nearly 0.89%, marking a weak session for public sector banks. Realty and Metal indices also recorded declines.

IndusInd Bank gained 2% following news of a Rs 1,573 crore microfinance loan sale. UltraTech Cement announced an Rs 851 crore acquisition of Star Cement's stake but closed off intraday highs. Auto Stocks witnessed robust buying ahead of monthly sales data, pushing the Nifty Auto index higher by over 1%.

Cochin Shipyard hit a 5% upper circuit after winning a Rs 450 crore order from Adani Ports. Gensol Engineering jumped 6% on securing an Rs 897 crore EPC contract from NTPC Renewable. SKF India rose 3% after approving a demerger scheme for its industrial business.

NHPC slipped as the company revised execution timelines for the Teesta V project, with losses projected at Rs 1,075 crore. Religare Enterprises dropped 6% following a stay from the MP High Court on its AGM and RBI's approval for an open offer. Max Estates surged 4% after reporting pre-bookings worth Rs 845 crore for its Noida project launch.

IPO Debuts

Several newly listed stocks made strong market debuts. Mamata Machinery ended its first trading session with a gain of nearly 160%. DAM Capital, Transrail, Sanathan Textiles, and Concord Environment closed higher by 18-48%.

Weekly Snapshot

On a weekly basis, the Sensex and Nifty posted gains of approximately 1% each, recovering from a sharp 5% decline in the previous week. The Nifty Bank index also gained 1%, while the Midcap index ended flat.

M&M, Trent, and Adani Ports topped the charts among Nifty constituents. Whereas, Hero MotoCorp, Power Grid, SBI, and Titan recorded the most significant declines.

Intellect Design, India Cements, Paytm, and IndiGo led the gains, while HUDCO, Vedanta, Hind Copper, BSE, and Astral lagged.

Market breadth was neutral, with an advance-to-decline ratio of 1:1. Meanwhile, the volatility index, India VIX, dropped by nearly 6%, indicating reduced market uncertainty and investor optimism for near-term stability.