Midday Market: Sensex surges over 400 points; Nifty above 23,750

The Indian stock market opened the first trading day of 2025 on a mixed note. While the Sensex surged over 400 points and the Nifty crossed the 23,700 mark, sectoral performance remained varied.

Market movers and laggards
Top gainers in the Sensex pack included Sun Pharma, Asian Paints, Infosys, Larsen & Toubro, and HCL Tech. Meanwhile, notable laggards were ICICI Bank, Kotak Mahindra Bank, UltraTech Cement, Axis Bank, and Adani Ports.

In sectoral indices, Nifty Media led the charge with a 1.45% gain, followed by Nifty IT, which rose by 0.4%. However, Nifty Bank, Auto, Metal, and Realty witnessed early losses, dragging down sentiment in specific pockets.

Midcaps and smallcaps steady
Broader indices such as midcap and smallcap remained flat, reflecting cautious optimism among domestic investors.

Expert outlook
Analysts predict limited upside in the short term as markets await the quarterly earnings season, set to kick off next week. Banking and financial stocks, which are among the key drivers, may face pressure in the near term, but sectors like IT and pharma could lend support.

Key stocks to watch
Shares of Bajaj Auto declined by two per cent, reflecting weaker-than-expected December sales data, while Apollo Hospitals advanced by one per cent, boosting healthcare sentiment.

Investors are advised to stay cautious and focus on sector-specific plays as the earnings season approaches.