Sensex, Nifty trade higher, Bank, Auto stock boost momentum

The domestic share market indices traded on positive note on Friday with Nifty above 23,800. At close, the Sensex was up 226.59 points or 0.29 percent at 78,699.07, and the Nifty was up 63.20 points or 0.27 percent at 23,813.40. About 1866 shares advanced, 1946 shares declined, and 113 shares unchanged.
Dr Reddy's Labs, M&M, IndusInd Bank, Eicher Motors, Bajaj Finance were the top gainers on the Nifty, while losers included Hindalco Industries, SBI, ONGC, Coal India, Bharat Electronics. On the sectoral front,auto, pharma, media up 0.4-1 percent, while realty, PSU Bank, oil & gas, metal, indices down 0.5-1 percent.BSE Midcap index was trading flat while smallcap index up 0.3 percent.
Market This Week:
●Market gives positive returns in a thin-volume week, Nifty up 1 percent,
●Auto & pharma see buying while metals were amongst top losers,
●Sensex, Nifty & Nifty Bank rise 1 percent each, Midcap index was flat.
Rupee Close:
On 27 Dec'24,the Indian  rupee fell to an all-time low of 85.54 against the US dollar. This marked its steepest single-day decline since February 2023, according to information.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying, the Christmas week trading ended on a subdued note; a lack of major triggers and caution ahead of the swearing of US Republican Party administration continued to impact the sentiment. While the rupee dropped to a new low, weighed down by the expectation of fewer Fed rate cuts, a widening trade deficit, and weak economic growth. The auto index outperformed, aided by an expectation of a pickup in volumes in December and comfort in valuation.
Market experts have recommended five stocks to buy -InterGlobe Aviation Ltd (Indigo), Man Infraconstruction Ltd , Union Bank of India, Hindustan Petroleum Corporation Ltd and Godrej Industries Ltd.

(Business Correspondent)