/images/ppid_59c68470-image-176726256298891782.webp)
The equity benchmark indices BSE Sensex and NSE Nifty on Thursday (January 1) ended the session near the flatline, with the Nifty managing to hold on to levels above 26,100 even as a sharp decline in ITC capped gains.
The Sensex closed 32 points lower at 85,189, while the Nifty rose 17 points to settle at 26,147. Broader markets relatively outperformed frontline indices, with market breadth favouring advances.
Nearly 40 stocks ended higher on the Nifty, but losses in ITC weighed on the index. ITC emerged
as the top Nifty loser after the government sharply increased excise duty, with the stock ending the day down 9%.
Also Read: HDB Financial Services shares and the₹37,000 crore connection
Banking and midcap stocks provided support to the broader market. The Nifty Bank index gained 130 points to close at 59,712, while the Midcap index rose 266 points to 60,750.
Shriram Finance continued its upward momentum and ended the session as the top Nifty gainer, rising 3%. Bajaj Auto advanced 3% ahead of its monthly sales announcement, with estimates pointing to 15% sales growth.
Auto stocks saw buying interest, with Mahindra & Mahindra and Ashok Leyland moving higher after reporting healthy growth in December.
In the retail space, Avenue Supermarts slipped ahead of its quarterly update and closed 2% lower. Kiri Industries declined following management comments on the use of proceeds from the Dystar resolution.
Also Read: Allied Blenders lock-in ends on January 2; stock up 114% from issue price
Telecom stocks gained, with Vodafone Idea and Indus Towers rising after the Cabinet approved the restructuring of AGR dues.
Among midcaps, JSW Energy, PNB Housing Finance, Astral and Supreme Industries were among the top gainers, rising 3–4%. APL Apollo Tubes climbed 3% after reporting healthy volume growth in the third quarter.
On the downside, PB Fintech fell after the RBI raised concerns over higher commissions for insurance companies. MCX witnessed profit booking and ended the session down 1%.
