Sensex swings between gains and losses amid volatility, Nifty below 23,800

Indian benchmark indices, Sensex and Nifty50, showed signs of volatility on Monday, December 30, as both indices opened marginally lower before rebounding later in the day. By 11:56 AM, the BSE Sensex was up over 350 points, trading at 79,065.42, while the Nifty50 gained 84.25 points, standing at 23,897.55. Despite the early weakness, market sentiment improved as the session progressed.

Key stocks driving market movements

Among the major stocks contributing to market volatility, Reliance Industries, HDFC Bank, Infosys, M&M, Maruti, and SBI pulled down the Sensex in early trading. These stocks were weighed down by sector-specific concerns and broader market sentiment. In contrast, Adani Ports, Bharti Airtel, Zomato, and ITC showed positive movements and helped lift the indices as the session continued.

Sectoral performance and losses

The sectoral indices reflected mixed trends, with the media sector emerging as one of the top losers. The Nifty Auto and Oil & Gas indices opened more than 0.5% lower, contributing to the early weakness in the market. The Nifty Bank, IT, Metal, PSU Bank, Realty, and Consumer Durables indices also recorded declines, with losses ranging from 0.1% to 0.3%. These sectors continued to experience selling pressure, dampening overall market performance.

Individual stock movements

In the stock-specific space, Utkarsh Small Finance Bank rose by 4% after announcing its approval for the sale of non-performing assets and written-off loans worth Rs 355 crore. The loans will be sold to an Asset Reconstruction Company (ARC) at a reserve price of Rs 52 crore, which boosted investor confidence in the stock.

As the session progresses, market volatility remains the key theme, with sectoral shifts and stock-specific developments continuing to influence investor sentiment.