Sensex ends choppy day 242pts up, Nifty near 21,350; realty, IT stocks soar
Closing Bell on Friday December 22: The BSE MidCap and SmallCap indices outran the benchmarks with 0.74 per cent and 1 per cent gains, respectively
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Stock market highlights: Lack of major triggers kept equities volatile on Friday. The S&P BSE Sensex swung 546 points intraday before closing at 71,107, up 242 points or 0.34 per cent.
The Nifty50, on the other hand, ended at 21,349, up 94 points or 0.44 per cent. It hit a high of 21,390.5 and a low of 21,232.45 during the day.
Wipro (up 6 per cent), HCL Tech, Tata Motors, Tech M, Maruti Suzuki, Tata Steel, Infosys, L&T, JSW Steel, Titan, Asian Paints, Bharti Airtel, and TCS (up 1 per cent) were the top gainers.
Bajaj Finance (down 1 per cent), SBI, ICICI Bank, HDFC Bank, Axis Bank, and IndusInd Bank were the top laggards.
The BSE MidCap and SmallCap indices outran the benchmarks with 0.74 per cent and 1 per cent gains, respectively.
Sectorally, the Nifty Realty jumped 2.55 per cent, followed by the Nifty IT (up 2.27 per cent). On the flipside, the Nifty Bank fell 0.75 per cent.
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Comment :: 'Maintain extra caution as Nifty is volatile'
The last two days of the rebound in the index have eased pressure and it would be a healthy consolidation if Nifty spends some time around the current levels.
We are seeing volatility across the sectors so traders should maintain extra caution in stock selection and overnight risk management. And, we feel it is prudent to stick with index majors over midcap and smallcap counters.
Views by: Ajit Mishra, SVP - Technical Research, Religare Broking
We are seeing volatility across the sectors so traders should maintain extra caution in stock selection and overnight risk management. And, we feel it is prudent to stick with index majors over midcap and smallcap counters.
Views by: Ajit Mishra, SVP - Technical Research, Religare Broking
3:51 PM
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Tech View :: 'Break below 47,400 will take Nifty bank towards...'
The Bank Nifty index faced selling pressure on the last day but managed to hold the key support level of 47,400.
If the index fails to sustain above this support, it could witness further decline toward the 47,100 levels.
On the upside, the immediate resistance is at 47,700, and a breakout above this level may trigger short-covering, pushing the index higher toward 48,000/48,200 levels.
Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
If the index fails to sustain above this support, it could witness further decline toward the 47,100 levels.
On the upside, the immediate resistance is at 47,700, and a breakout above this level may trigger short-covering, pushing the index higher toward 48,000/48,200 levels.
Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
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Tech View :: 'Sustained trade above 21,300 will take Nifty gradually beyond 21,500'
The Nifty index displayed volatile movements on the last day of the week but managed to close above the crucial level of 21,300.
The lower-end support for the index is positioned at 21,200, presenting a buying opportunity on any dips toward this level.
Sustaining above 21,300 could pave the way for further upside momentum, targeting the 21,500 level.
Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
The lower-end support for the index is positioned at 21,200, presenting a buying opportunity on any dips toward this level.
Sustaining above 21,300 could pave the way for further upside momentum, targeting the 21,500 level.
Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
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Comment :: 'Markets to remain range-bound ahead of year-end season'
The 'buy on dips' strategy continues to drive investors during the subdued week. Mid and small caps remain in the limelight, benefiting from ease in oil prices and the anticipation of a potential rate cut in CY24, supported by slower-than-expected US GDP growth and weakness in the dollar, signalling early rate cuts.
Realty and Auto sectors shine, while PSU banks outperform peers on account of improvements in balance sheets and profitability.
Despite a premium valuation, the short-term positive trend persists, supported by a strong revival in FIIs buying & stock specific actions.
Heading into the festive season and year-end, we can anticipate a range-bound trade scenario with limited data points.
Views by: Vinod Nair, Head of Research at Geojit Financial Services.
Realty and Auto sectors shine, while PSU banks outperform peers on account of improvements in balance sheets and profitability.
Despite a premium valuation, the short-term positive trend persists, supported by a strong revival in FIIs buying & stock specific actions.
Heading into the festive season and year-end, we can anticipate a range-bound trade scenario with limited data points.
Views by: Vinod Nair, Head of Research at Geojit Financial Services.
3:46 PM
Currency check :: Rupee ends 13 paise higher vs USD
3:44 PM
SmallCap Heatmap :: Index ends 1% higher
3:44 PM
MidCap Heatmap :: Index ends 0.74% higher
3:42 PM
Sectoral trends :: Realty, IT indices rally over 2% each; Bank index falls
3:41 PM
Nifty Heatmap :: IT stocks leads the winners' pack
3:38 PM
CLOSING BELL :: Nifty ends near 21,350
3:36 PM
CLOSING BELL :: Sensex swings in trade Friday, ends 242 pts higher
3:25 PM
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Topics : Stock Market Sensex MARKET LIVE MARKET WRAP Markets Sensex Nifty S&P BSE Sensex Gift Nifty NSE Nifty stock market trading Indian stock market
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First Published: Dec 22 2023 | 7:19 AM IST
