Mumbai (Maharashtra) [India], January 2 : Indian stock markets continued their upward movement in the second session of 2025, with both indices surging marginally during the opening session.
The Nifty 50 index opened at 23,783 points with a gain of 40.10 points or 0.17 per cent, while the BSE Sensex opened at 78,657.52 points, rising by 150.11 points or 0.19 per cent.
Experts stated that the upcoming Q3 results season will now decide the market's movement. Afterwards, the market is expected to shift focus towards expectations from the Union Budget and the policy decisions of the Trump 2.0 administration.
Ajay Bagga Banking and Market Expert told ANI, "Indian markets marked a positive start to the year. First earnings for Q3 start from next week and will set the tone for the markets along with expectations from the Union Budget on Feb 1. Trump 2.0 start remains the main global event of the month and year. With market expectations low and FPI positioning strongly short, there is probably 2-5 per cent of market correction left before a bounce starts. Time wise it could take a few weeks to a few months".
In the sectoral indices on the NSE, except for Nifty Media and Nifty Oil and Gas, all other indices opened with gains. Nifty Auto emerged as the leader in gains at the time of filing this report.
In the Nifty 50 shares list, 35 stocks opened in the green while 15 declined during the opening session. Kotak Bank opened as the top gainer, followed by Tata Motors, Bajaj Finance, Maruti, and Dr. Reddy's. The top losers in the opening session included Bajaj Auto, Wipro, HDFC Life, HDFC Bank, and BEL.
"The nifty advanced for a second day yesterday on better breadth but we have to take into account that this is a low liquidity period, so price moves in both directions can be exaggerated. That said, there is a very large cluster of resistance between 23876 and 23970 should the rebound continue - this is also where the 200-dma sits. Short-term support has now moved higher into the 23545 - 23640 area, with a downside extension at 23460" said Akshay Chinchalkar, Head of Research, Axis Securities.
Most major Asian markets remained closed for the New Year holiday, with only Indonesia's markets open. The Jakarta Composite Index surged marginally by 0.61 per cent at the time of filing this report.