02.01.202605:35:43UTC+00Indian Stocks Point to 2nd Straight Weekly Gains

On the second trading day of the year, the BSE Sensex rose by 343 points, or 0.4%, reaching 85,531 during the morning session. This rebound follows a slight dip in the previous session, taking the index to its highest level since December 23, 2024. The upswing is largely attributed to investors gearing up for the upcoming quarterly earnings season. Positive momentum was noted across most sectors, including metals, autos, banking, technology, and manufacturing. Nevertheless, the upward trend was tempered by ongoing foreign investor outflows. As per provisional data, foreign portfolio investors offloaded shares worth INR 32.69 billion on Thursday, marking a seventh straight session of net outflows. Additionally, new data indicated that growth in the manufacturing sector had slowed to its lowest rate in two years, impacting market sentiment as anticipation builds for the GDP figures slated for release next week. Leading gainers in the session included IndusInd Bank (up 1.9%), NTPC (up 1.7%), Bajaj Finance (up 1.6%), Maruti Suzuki (up 1.5%), and Tata Motors (up 1.0%). For the week, the Sensex is positioned to achieve a 0.6% increase, signifying a second consecutive week of gains.