Today's stock market: Due to the uneven results of the major stocks, the Sensex and Nifty 50 closed flat on December 26. Amid holiday trade, investors kept a close eye on Trump's tariff policy and the US Federal Reserve's interest rate decisions, but global indications remained lackluster.
Today's stock market: As gains in shares of Bharti Airtel, Adani Ports, and Mahindra and Mahindra were mostly offset by losses in those of Reliance Industries, HDFC Bank, and Titan, the frontline indices—the Sensex and the Nifty 50—closed flat on Thursday, December 26.Sentiment remained low due to a lack of global cues and holiday-thinned trading. Investors are currently concentrating on Donald Trump's tariff proposals and the US Federal Reserve's interest rate trajectory for the upcoming year.
Sentiment remained low due to a lack of global cues and holiday-thinned trading.Investors are currently concentrating on Donald Trump's tariff proposals and the US Federal Reserve's interest rate trajectory for the upcoming year.
In contrast to its previous close of 78,472.87, the Sensex began at 78,557.28, and it reached its intraday high and low of 78,898.37 and 78,173.38, respectively. At 78,472.48, the 30-share pack ultimately closed flat.
After closing at 23,727.65, the Nifty 50 opened at 23,775.80. Its intraday high and low were 23,854.50 and 23,653.60, respectively. On the day that December futures and options (F&O) contracts expired, the index ended the day at 23,750.20, up 23 points, or 0.10 percent.
The benchmark Sensex underperformed the BSE Midcap index, which increased by 0.11 percent. The BSE Smallcap index, however, fell 0.24 percent.
Vinod Nair, head of research at Geojit Financial Services, noted that "due to a lack of significant domestic or international triggers and holidays in peer markets, the domestic market stayed flat throughout the day on the last expiry day of the year."
"Concerns over FII outflows and the depreciating rupee persist, given the strengthening US dollar index and worries about potential adverse tariffs and rate cuts in 2025, holding the muted market trend," Nair stated.
Today's sectoral indexes
The Nifty Auto, Healthcare, and Pharma sectors indices all saw gains of about 1%. Conversely, Nifty Media experienced a decline of more than 1%. The indexes of Nifty Bank and Private Bank fell 0.12% and 0.16 percent, respectively."As the Nifty PSU Bank index increased by 0.31%."
Outlook for the Nifty 50
The bulls are having trouble getting above the 23,850 barrier right now, according to Progressive Shares director Aditya Gaggar.
Following a strong start, the banking stocks drove the Nifty 50's increase, but the surge swiftly ended without any catalysts. Gaggar stated, "We need a strong move on either side of a well-maintained range of 23,650-23,850."
The Nifty 50 is trading below its short-term moving averages and circling close to its 200-day EMA (exponential moving average), according to Chandan Taparia, head of equities derivatives and technical at Motilal Oswal Financial Services.The index has created a Doji candle on the weekly chart, suggesting support-based purchasing with little room for growth.
"FII selling pressure has been significant as reflected by a decline in the Long-Short ratio, which has dropped to 23 per cent, and based on the current price structure, as long as the Nifty 50 trades above the 24,500 level, it can witness some swings towards 23,900-24,000 zone," Taparia said.
Regarding options, the highest Call open interest (OI) is at 24,000 and 25,000 strikes, while the highest Put OI is at 23,800 and 23,000 strikes. Put writing is observed at 23,800, followed by 23,000 strikes, while call writing is observed at 23,800, followed by 24,000 strikes.While there is an immediate range between 23,500 and 23,900 levels, option data points to a wider trading range between 23,200 and 24,200," Taparia stated.
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