 "Share Market Today: Nifty F&O expiry; Unimech IPO closes; Senores allotment")
Stock Market Today, December 26, 2024: India stock markets will resume trading today, Thursday, December 26, after a day’s holiday, on account of Christmas. On Tuesday, benchmarks – BSE Sensex, and NSE Nifty – ended an extremely volatile session on a subdued note.
The BSE Sensex closed 67 points lower at 78,472 level, while the Nifty50 ended at 23,728, lower by 26 points.
FIIs sold stocks worth Rs 2,454.21 crore on Tuesday but DIIs net bought shares worth Rs 2,819.25 crore.
Key levels to watch, How to trade Nifty 50, Sensex today?
Devarsh Vakil - Deputy Head Retail Research, HDFC Securities:
Nifty attempted to surpass the previous session’s high of 23,869 but failed to do so. The index found resistance at it 5-DEMA and turned southward. Immediate resistance is seen at 23,870. Support for the index is seen at 23,537.
Kunal Shah, Senior Technical and Derivative Research Analyst, Mirae Asset Sharekhan:
On the daily chart, Nifty is trading below the 20-day moving average (DMA) and the 40-DEMA of 24,316 and 24,292, respectively. The momentum indicator has a negative crossover.
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On the hourly chart, the Nifty is trading below the 20-hour moving average (HMA) and the 40-HEMA of 23,756 and 23,947, respectively. The momentum indicator has a negative crossover on the hourly charts as well.
Nifty outlook today remains bearish as long as it stays below the mark of the 200-DMA with possible targets of 23,500/23,000 where writers are active.
Shrikant Chouhan, Head Equity Research, Kotak Securities:
We believe that the current market texture is non-directional as traders seem to be waiting for a breakout in either direction.
On the upside, 23,850/78,800 would be the immediate breakout level for the bulls. If surpassed, the market could rally up to 23,950-24,000/79,100-79,300.
Conversely, selling pressure is likely to accelerate below 23,600/78,200, with the market potentially slipping to 23,500-23,475/78,000-77,800.
Stock Market Prediction Today:
While there are no major triggers today, Markets may remain volatile on account of the monthly F&O expiry. Besides, sector rotation ahead of the year-end portfolio re-shuffle by investors and in anticipation of Union Budget 2025 may lead to stock-specific actions today.
Globally, investors will watch out for the weekly jobless claims data in the US. They will also assess Russia’s massive aerial attack on Ukraine, using cruise missiles to target energy infrastructure across the country, on Wednesday, December 25.
That said, trading volumes may remain thin as most Asian markets – Australia, Hong Kong, and New Zealand – are closed today on account of Boxing Day.
Meanwhile, Japan’s Nikkei index was up 0.35 per cent, and South Korea’s Kospi added 0.23 per cent.
At 6:50 AM, GIFT Nifty futures were at 23,826 level, up 10 points.
On Tuesday, stocks in the US jumped ahead of an early market closure and Christmas holiday on December 25.
The S&P 500 added 1.1 per cent to 6,040.04, and the Dow Jones Industrial Average gained 0.91 per cent to 43,297.03. The Nasdaq Composite climbed 1.35 per cent to 20,031.13.
IPOs Today:
In the primary market, Unimesh Aerospace IPO will close for subscription today. The issue has been subscribed 9x so far.
Besides, Carraro India IPO, Senores Pharmaceuticals IPO, and Ventive Hospitality IPOs will see their IPO allotments today.
In the SME segment, Anya Polytech and Fertilisers IPO will open for subscription today.
Stock Market Outlook 2025:
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