Domestic equity barometers ended with modest gains on Thursday, snapping a two-day losing streak. The Nifty closed above the 21,650 mark. All the sectoral indices on the NSE ended in the green with realty, financial services and private bank shares gaining the most. Trading was volatile due to expiry of weekly index options on the NSE.

As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 490.97 points or 0.69% to 71,847.57. The Nifty 50 index gained 141.25 points or 0.66% to 21,658.60.

The broader market outperformed the local indices. The S&P BSE Mid-Cap index gained 1.49% and the S&P BSE Small-Cap index added 1.04%.

The market breadth was strong. On the BSE, 2,568 shares rose and 1,262 shares fell. A total of 111 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slumped 5.44% to 13.33.

Buzzing Index:

The Nifty Realty index jumped 6.76% to 841.30. The index surged 8.07% in two trading sessions.

Sobha (up 15.7%), Macrotech Developers (up 9.27%), Godrej Properties (up 7.98%), Prestige Estates Projects (up 7.72%) and DLF (up 6.39%), Brigade Enterprises (up 6.16%), Oberoi Realty (up 5.09%), Swan Energy (up 5.01%), Mahindra Lifespace Developers (up 4.69%) and Phoenix Mills (up 3.23%) jumped.

Stocks in Spotlight:

Adani Ports and Special Economic Zone (APSEZ) advanced 2.55% after the company?s board approved a proposal to raise Rs 5,000 crore via non convertible debentures (NCDs).

Meanwhile, the company?s board has also approved the appointment of Ashwani Gupta, the former global chief operating officer (CEO) at Nissan Motors, as the new chief executive officer (CEO) of Adani Ports and Special Economic Zone.

Bajaj Finance rallied 4.44% after the NBFC?s new loans booked during Q2 FY24 grew by 26% to 8.53 million as compared to 6.76 million in Q2 FY23.

IndusInd Bank's stock gained 2.93% after the bank reported a robust 20% year-over-year (YoY) growth in net advances to Rs 3.26 lakh crore for the quarter ended 31 December 2023.

G M Breweries slipped 4.01% after the company's net profit declined 12.81% to Rs 22.60 crore in Q3 FY24 as against Rs 25.92 crore reported in Q3 FY23. Revenue from operations (excluding excise duty) grew by 2.14% year on year to Rs 156.95 crore in the quarter ended 31 December 2023.

Angel One advanced 2.83% after the brokerage company?s client base jumped 55.5% to 19.45 million in December 2023 as against 12.51 million in December 2022.

Indian Energy Exchange (IEX) rose 1.53% after the company informed that it has achieved 9,707 million units (MU) overall volume in December 2023, registering an increase of 14.9% increase on YoY basis.

Bandhan Bank gained 2.54% after the private bank's total deposits rose 14.8% to Rs 1,17,422 crore in the quarter ended 31 December 2023 from Rs 1,02,283 crore recorded in the quarter ended 31 December 2022.

Ujjivan Small Finance Bank (SFB) jumped 4.28% after the bank?s total deposits surged 29% YoY to Rs 29,869 crore as of 31 December 2023.

MRF added 0.93%. The tyre maker said that it will buy upto 27.2% stake in First Energy 8 for Rs 35.87 crore to enhance its source of renewable power supply.

Global Markets:

Markets in Europe advanced across the board while its Asian stocks tumbled on Thursday.

French inflation figures showed consumer prices rising 3.7% year on year in December, a slight rise from 3.5% in November.

Japan resumed trading after an extended New Year?s holiday during which it witnessed an earthquake and a collision at Tokyo?s Haneda airport involving Japan Airlines.

The Caixin China General Services Business Activity Index rose to 52.9 in December compared with 51.5 in November, climbing for a 12th straight month. The survey also noted that the rate of growth was the fastest since July.

US stocks lost ground on Friday after the Fed minutes revealed officials concluded that interest rate cuts were likely in 2024, though they appeared to provide little in the way of when that might occur.

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