Markets open on a positive note on New Year's day, Sensex gains 120 points

Indian indices opened on a positive note on New year's day (January 1) with the BSE Sensex gaining 119.86 points or 0.29% to reach 41373.60. The Nifty advanced 33.90 points or 0.28% to touch 12202.40 points. 

L&T, Reliance Industries and Infosys were the top gainers while Reliance Industries, Indiabulls Housing and Tata Motors were the most active stocks. All sectoral indices opened in green with Nifty PSU Bank adding half a percent. About 544 shares have advanced, 145 shares declined, and 33 shares are unchanged.

The Indian rupee opened with a gain of 2 paise at 71.36 per dollar on Wednesday (January 1) after closing at 71.38 on Tuesday.

On Tuesday (December 31), the Indian indices ended in the red with the Sensex plunging 304.26 points or 0.73 percent at 41253.74. The broader Nifty closed down 87.40 points or 0.71 percent at 12168.50. 

The top gainers were NTPC, Tata Motors, and Sun Pharma, while Tech Mahindra, Bajaj Auto and Reliance Industries were the top losers. The auto and IT index fell the most among the sectors. About 1351 shares advanced, 1184 shares declined, while 185 shares remained unchanged.

Key equity indices slumped on Tuesday with the BSE Sensex trading 100 points lower. The decline in banking, auto, and IT stocks dragged the indices lower, but power, metal and oil and gas stocks traded higher during the day.