Stock Market LIVE Updates: GIFT Nifty indicates a strong start; US, Asian markets gain

Indian equity indices snapped five-day losing streak and ended on strong note with Nifty at 23,750 on December 23. At close, the Sensex was up 498.58 points or 0.64 percent at 78,540.17, and the Nifty was up 165.95 points or 0.70 percent at 23,753.45.

We wrap up today’s edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

The index has formed a bullish Harami Cross pattern on the daily chart, indicating a potential rise in market optimism. Besides, the index closed above the 200-EMA. Going forward, a decisive move above 23,850 could trigger a smart recovery towards 24,000/24,400. On the downside, support is placed at 23,540; a breach below this level may lead to further weakness in the index.

Markets experienced a slight recovery after the recent decline, gaining over half a percent. Following an initial gap-up opening, the Nifty oscillated within a range and eventually settled at the 23,753.45 level. Most sectors contributed to the up move, with realty, banking, and FMCG emerging as the top gainers. Meanwhile, the broader indices remained subdued, ending nearly flat.

This pause is typical, driven by oversold positions in index heavyweights. Participants are advised to maintain a cautious stance with a negative bias on the index until clear signs of a rebound emerge. However, individual stocks continue to present opportunities on both sides. We reiterate our preference for the pharma and healthcare sectors for long positions, while other sectors are likely to see mixed trading trends.

The Indian market demonstrated optimism following the recent sell-off. The lower-than-expected US PCE print bolstered investor sentiment in interest rate-sensitive sectors. Broad-based buying was observed, with the metals sector notably benefiting from the anticipated increase in steel import taxes. Despite the positive market sentiment, the short-term outlook is expected to remain sideways due to a lack of new catalysts and the impact of the festive season and holidays.

JSW Steel, ITC, Hindalco Industries, IndusInd Bank and Trent were among the biggest gainers, while losers included Hero MotoCorp, Maruti Suzuki, Nestle India, HCL Technologies, and Bajaj Finserv…Read More

With a bullish cypher pattern in the picture, the Indian equities started the session on a firm note and it was coupled with a follow-through momentum, but in mid-session, a reversal was seen and the Index wiped off some of its gains to settle the trade at 23,753.45 with gains of 165.95 points. Realty was the top performer among the sectors followed by PSU Banks and BankNifty; and on the flip, Media and Auto were the laggards.

Selling pressure from the higher levels was witnessed in the Broader markets as well but Midcaps managed to hold its ground while Small caps ended the day in red.

On the daily chart, index has made a Bullish Harami Cross candlestick pattern which indicates a potential trend reversal. A strong and sustainable move above the zone of 23,850-24,000 will confirm a trend reversal whereas on the downside, the level of 23,600 will continue to act as a support.

The recovery follows a turbulent week, with the Nifty sliding 10 percent from record highs into a technical correction. Here’s a look at the top gainers and losers in trade today. …Read More

Indian rupee ended at fresh record low 85.11 per dollar on Monday versus Friday’s close of 85.02.

Indian equity indices snapped five-day losing streak and ended on strong note with Nifty at 23,750 on December 23.

At close, the Sensex was up 498.58 points or 0.64 percent at 78,540.17, and the Nifty was up 165.95 points or 0.70 percent at 23,753.45. About 1565 shares advanced, 2348 shares declined, and 134 shares unchanged.

Biggest Nifty gainers included JSW Steel, ITC, Hindalco Industries, IndusInd Bank and Trent, while losers included Hero MotoCorp, Maruti Suzuki, Nestle India, HCL Technologies, Bajaj Finserv.

Among sectors, bank, FMCG, metal, oil & gas, energy, realty up 0.5-1 percent, while media index shed 0.4 percent.

The BSE midcap index was up marginally, while smallcap index was down0.6 percent.

Adani Defence Systems and Technologies (ADSTL), a wholly owned subsidiary of Adani Enterprises, has executed a share purchase agreement (SPA) with Air Works India (Engineering) (AWIEPL) and existing shareholders of AWIEPL to acquire 85.8% stake in AWIEPL.

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Despite some deceleration in flows in late 2024 due to geopolitical and macroeconomic challenges, FPIs hold around 17.7% of total market capitalization on the National Stock Exchange as of September 2024….Read More

#1 DGTR has initiated a safeguard investigation on appeal from the India Steel Association #2 Steel association appeal includes provisional measures, tariffs for 4 years #3 Effectiveness of measures need to be watched for #4 If implemented, see Tata, JSW Steel to be larger beneficiaries