Tue Jan 07 16:05:24 UTC 2025: ## Indian Markets Surge: Midcaps Lead Gains, Tech Stocks Lag

**Mumbai, January 7, 2025** – Indian stock markets experienced a broad-based rally today, with midcap stocks significantly outperforming their large-cap counterparts. The Sensex closed up 234 points at 78,199, while the Nifty gained 92 points to reach 23,708. The midcap index saw a more substantial increase, jumping over 1% (502 points) to close at 56,869, and the Nifty Bank index also rose significantly (280 points) to 50,202.

ONGC led the Nifty gainers, surging 4% after a CLSA upgrade, while SBI Life and HDFC Life also saw strong gains (up to 3%). However, IT stocks underperformed, with HCLTech, TCS, and Tech Mahindra among the top losers.

Several individual stocks made significant moves. Biocon jumped 7% following Japanese regulatory approval for a psoriasis treatment. Zomato, conversely, dipped 4% after a Jefferies downgrade. Other notable movers included MobiKwik (up 10%), Paras Defence (up 10% on a new license), Akzo Nobel (up 6% on Berger Paints’ potential acquisition), IndiaMART (up 3%), and Zydus (up 4% on US FDA approvals). Equinox India hit a 20% upper circuit following NCLAT merger approval, while Shakti Pumps also saw strong gains (5%) on QIP plans. Info Edge, despite strong Q3 billings, fell 4%.

Several significant developments were reported:

* **LG Electronics** is reportedly considering a $15 billion valuation for its Indian unit’s IPO, targeted for the first half of 2025.
* **NCC Ltd.** won a ₹501 crore contract for the Bengaluru Suburban Rail Project.
* **Berger Paints** is reportedly seeking to acquire Akzo Nobel’s Indian stake.
* **Jefferies** downgraded Blue Star to ‘Hold’.
* **Vertex Global Services** plans to create 5,000 jobs in Gurgaon over the next three years.

Several analysts offered stock recommendations, including Mitessh Thakkar (Granules, HAL), Shrikant Chouhan (Fortis Healthcare, Bharat Electronics), and Sacchitanand Uttekar (DLF, Dr. Lal PathLabs), and Sudarshan Sukhani (HDFC Life, Tata Consumer, L&T, Godrej Consumer).

The official data for the first advance estimates of national income for 2024-25 were released today. Further updates are available on CNBCTV18.com and various social media platforms.

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