The final trading session before the Christmas holiday proved to be a historic day for precious metals but a muted one for the broader equity market. While the benchmark BSE Sensex and Nifty 50 concluded Wednesday, December 24, 2025, with marginal losses, the spotlight was firmly on the gold commodity. A relentless surge in bullion prices, triggered a massive rally in gold financier stocks. Industry leaders Manappuram Finance and IIFL Finance hit fresh 52-week highs, capitalising on the increased value of their gold-backed collateral.
Market Wrap Snapshot
The domestic stock market experienced a turbulent day as investors navigated through year-end position squaring and the monthly Sensex expiry. By the closing bell, the BSE Sensex dropped by 116.14 points or 0.14 percent to settle at 85,408.70. Similarly, the NIFTY 50 slipped by 37.45 points or 0.14 percent, finishing the day at 26,139.70.
On the currency front, the Indian Rupee mirrored this weakness, closing lower at ₹89.78 per dollar against Tuesday’s close of ₹89.66.
(Source: BSE, NSE)
Technical Landscape
Despite the small fall, the Nifty is still in a reasonably strong position. The index is trading above its 200-day average of 24,862, which is a key long-term indicator and suggests that the broader trend remains positive.
However, Nifty is currently below its shorter-term averages at 26,025 for 21 days, 25,892 for 50 days and 25,381 for 100 days. This means the market is facing some near-term pressure and may need more buying support to move higher in the short run.
In simple terms, the long-term outlook is stable, but the short-term direction remains cautious.
(Source: Lotusfunds)
Gold Rally Sparks Strong Move in Gold Financiers Stocks
The most significant story of the day was the relentless “Gold Rush.” As gold prices shattered records to vault past $4,500/oz globally and ₹1.38 lakh locally on the MCX, gold financier stocks became the prime beneficiaries.
Why Gold Financiers Stocks Rallied
Gold financing companies like Manappuram Finance (+7.11%) and IIFL Finance (+5.28%) hit fresh 52-week highs. The rally is fundamentally driven by:
- Higher Collateral Value: Rising prices expand the ticket size of gold loans and improve loan-to-value (LTV) ratios.
- Margin Expansion: Expectations of US Fed rate cuts in 2026 suggest lower funding costs for non-banking financial companies (NBFCs).
- Defensive Rotation: Investors are shifting to gold-backed assets as a safe-haven hedge against geopolitical tensions in Venezuela and Eastern Europe.
(Source: Barron, JM Bullion, livemint)
Nifty Top Gainers: Stock Specific Action
Defying the broader market slump, certain frontline stocks emerged as the “stars of the day.” Trent stood out as the top gainer, soaring over 2 percent, followed closely by Apollo Hospitals and Shriram Finance.
Top Nifty 50 Gainers (December 24, 2025)
| Stock Name | Open (₹) | High (₹) | LTP (₹) | % Change |
|---|---|---|---|---|
| Trent | 4,209.00 | 4,313.30 | 4,284.00 | +2.26% |
| Shriram Finance | 958.00 | 983.70 | 974.00 | +1.69% |
| Apollo Hospitals | 7,070.00 | 7,209.50 | 7,177.00 | +1.46% |
| Bajaj Auto | 9,100.00 | 9,194.50 | 9,174.00 | +0.82% |
| UltraTech Cement | 11,715.00 | 11,790.00 | 11,770.00 | +0.79% |
(Source: NSE)
Sectoral Performance Highlights
Sectorally, a mixed trend was visible, with media, real estate and metal stocks outperforming the broader market.
Top performing sectors on the Nifty included:
- NIFTY MEDIA gained 0.44 percent
- NIFTY REALTY rose 0.17 percent
- NIFTY METAL advanced 0.15 percent
The resilience in metal stocks was supported by a sharp rally in global commodity prices, particularly silver and copper, which continued to trade near record highs.
(Source: NSE, CNBC TV-18)
Corporate Highlights and Index Changes
Beyond the price action, several corporate developments caught the eye of institutional investors:
- Coal India (+0.5%): The board has approved the listing of its subsidiary, Mahanadi Coalfields, in the next financial year, a move expected to unlock significant shareholder value.
- Manba Finance: Signed an MoU with TVS Motor, resulting in a steady trade near ₹141.10.
- BSE Index Changes: Newly listed entities like Billionbrains Garage Ventures (Groww) and Lenskart, alongside the demerged Tata Motors commercial vehicle business, are set to join the BSE LargeCap index on January 6, 2026.
- Ceinsys Tech: Shares jumped 5 percent after securing project extensions for three major contracts.
- Hindustan Copper hits 15-year high: Shares jumped 7 percent to ₹436.50, marking their highest level since November 2010. The stock extended gains for a fifth consecutive session, supported by strong buying interest amid a surge in global metal prices. On a year-to-date basis, the stock has climbed 75.36 percent in 2025, sharply outperforming the Nifty 50, which has risen 10.83 percent during the same period.
- VIP Industries (+8.75%): The luggage major was the standout performer after a massive 36.8 million shares (representing 26 percent of the company’s equity) changed hands in a significant block trade. This institutional activity sparked a sharp intraday rally.
- Oswal Pumps (+2.98%): Shares rose following the announcement of a major order win worth ₹180 crore for solar water pumping systems from the Maharashtra State Electricity Distribution Company.
- Rail Vikas Nigam (RVNL) (+0.83%): The state-owned railway firm saw a leadership transition as Saleem Ahmad formally assumed charge as the Chairman and Managing Director (CMD), succeeding Sukhmal Chand Jain.
(Source: Moneycontrol, Business Standard)
The Bottom Line
As benchmarks ended marginally lower on December 24, market leadership clearly shifted away from headline indices towards thematic strength. The sharp rally in gold prices pushed gold financier stocks into the spotlight, with Manappuram Finance and IIFL Finance emerging as clear outperformers.
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