The stock market closed on a positive note on December 26, with the Sensex rising 131 points to 80,789 and the Nifty50 advancing 43 points to end at 23,753. Mixed trends in global markets and selective sectoral gains drove the day’s performance.

Sectoral performance

Of the 13 major sectors, financials emerged as the top gainers, advancing by 0.5 per cent. Power and auto stocks also saw positive momentum, with Mahindra & Mahindra and Power Grid making significant gains. Meanwhile, broader indices like smallcaps and midcaps dipped by 0.2 percent, reflecting cautious sentiment among investors.

Key movers

Among the blue-chip stocks, Adani Ports soared over five per cent, while State Bank of India, Axis Bank, and Maruti Suzuki also contributed to the market’s upward movement. However, Asian Paints, Tech Mahindra, and Nestle dragged the indices lower.

Global cues

Asian markets largely traded in the green, with Seoul, Tokyo, and Shanghai registering gains. US markets were closed on Wednesday for the Christmas holiday, providing limited directional cues for domestic investors.

Stock-specific highlights

• Panacea Biotech gained 5 per cent after securing a UNICEF order worth $14.95 million for bivalent oral polio vaccines.
• Ramky Infrastructure rose three per cent on winning a Rs 215 crore infrastructure project.
• Ola Electric jumped four per cent, driven by expansion plans to 45,000 stores, capping a stellar December performance with a 10 per cent rise so far.

Market outlook

While selective buying in heavyweight sectors supported the indices, analysts caution that the broader market sentiment remains tepid due to global uncertainties and muted participation in midcaps and smallcaps. Markets are expected to remain range-bound in the near term with a focus on sectoral opportunities.