BSE BANKEX

Indian equity indices likely to open higher, GIFT Nifty trading at 26,341.50, Sensex closed up 545 points, Nifty up 190 points in last session of 2025, FIIs sold Rs 3,597 crore, DIIs bought Rs 6,759 crore on December 31

* Indian equity indices likely to open higher, GIFT Nifty trading at 26,341.50
* Sensex closed up 545 points, Nifty up 190 points in last session of 2025
* FIIs sold Rs 3,597 crore, DIIs bought Rs 6,759 crore on December 31

Indian equity indices are set for a positive start on January 1, with GIFT Nifty trading higher. The previous session saw broad-based gains led by metals and PSU banks, while US markets closed lower and FIIs continued selling as DIIs bought equities.

shorts/business/first-tick-top-global-cues-to-watch-in-today-s-trade-70

* Indian equity indices likely to open higher, GIFT Nifty trading at 26,341.50
* Sensex closed up 545 points, Nifty up 190 points in last session of 2025
* FIIs sold Rs 3,597 crore, DIIs bought Rs 6,759 crore on December 31

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First Tick: Top global cues to watch in today’s trade

The Indian equity indices are likely to open on a positive note on January 1, with cues coming from GIFT Nifty, which was trading marginally higher at around 26,341.50.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

The Indian equity markets finished the final trading session of 2025 (first day of January series), on a strong note with Nifty comfortably closing above 26,100. The rally was broad-based and led by sectors such as metal, PSU Bank, oil &amp;amp; gas, while the IT sector lagged behind.

At close, Sensex was up 545.52 points or 0.64 percent at 85,220.60, and the Nifty was up 190.75 points or 0.74 percent at 26,129.60.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 26,341.50, indicating a positive start for the day.

Asian Equities (Shut)

Asian markets were shut today on account on New Year holiday.

US Equities (Fall)

Wall Street indexes closed lower on Wednesday, echoing their world counterparts amid light trading on the last day of 2025, while investors took some profits in precious metals as they crossed the finish line of a roller-coaster twelve months.

The three major U.S. stock indexes ended well in negative territory, content to drift along just below record highs and bask in robust, double-digit annual gains.

The Dow Jones Industrial Average fell 303.77 points, or 0.63%, to 48,063.29, the S&amp;amp;P 500 fell 50.74 points, or 0.74%, to 6,845.50 and the Nasdaq Composite fell 177.09 points, or 0.76%, to 23,241.99.



Gold 

Gold and silver fell on the last trading day of 2025, though both remained on track for the biggest annual gain in more than four decades as a banner year for precious metals drew to a close.

Spot gold hovered around $4,320 an ounce, while silver slid toward $71.

Fund Flow Action

Foreign Institutional Investors (FIIs) continued their selling streak for a seventh consecutive session on December 31, offloading equities worth Rs 3,597 crore. Meanwhile, Domestic Institutional Investors (DIIs) provided a counterbalancing force on the same day by purchasing equities valued at Rs 6,759 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

According to Vinit Sambre, both gold and silver appear expensive relative to their long-term history, and recent returns may be difficult to sustain.

shorts/business/daily-voice-dsp-mf-s-vinit-sambre-suggests-top-investment-themes-for-2026-avoids-fresh-aggressive-allocations-to-gold-and-silver-amid-expensive-valuations

Vinit Sambre, Head – Equities at DSP Mutual Fund, suggested a few top investment themes for 2026. He is constructive on the IT sector, noting that valuations look reasonable and that any improvement in demand—AI-led or otherwise—could unlock upside.

He also favors banks and NBFCs as a play on potential rate cuts, healthy credit growth, and broadly stable asset quality. Real estate could see a pickup in activity as new launches recover after a softer 2025, particularly among stronger developers, he said in an interview with Moneycontrol.

According to him, both gold and silver appear expensive relative to their long-term history, and recent returns may be difficult to sustain. “With limited upside and a weak margin of safety, we would avoid making fresh, aggressive allocations,” he advised.

Do you expect rapid AI growth in India in 2026? Do you plan to significantly focus on the technology space next year?

AI is still evolving, and anyone claiming to fully understand its end-game is probably overstating it. But one thing is clear, India has an advantage in terms of talent. Our engineers, developers and data scientists give us a strong base to participate meaningfully in the global AI wave.

We’re already seeing Indian IT leaders like TCS, Infosys, HCL Technologies and others, launch AI-led services. As companies everywhere embed AI into workflows, demand for implementation, integration and support should keep rising.

Given this backdrop, we are constructive on Indian IT. The sector has underperformed in CY25, and valuations aren’t stretched. Any improvement in demand, AI-driven or otherwise can create attractive value over time.

What are your top themes to play in 2026, and why?

For 2026, a few themes stand out. We are constructive on IT, where valuations look reasonable and any improvement in demand, AI-led or otherwise can unlock upside.

We also like banks and NBFCs as a play on rate cuts, healthy credit growth and broadly stable asset quality. In consumers, policy support and lower rates may help demand, but shifting wallet shares and intense competition mean we will stay very selective.

Real estate could see activity pick up as new launches recover after a softer 2025, especially among stronger developers. And agri-inputs look attractive after valuation corrections driven by weak earnings in H1FY26, with a better Rabi outlook potentially supporting recovery. These are broad themes, but disciplined, bottom-up stock selection will matter most.

Do you continue to bet on gold with a target of $5,000 an ounce in 2026, and should it remain a strong part of every investor’s portfolio?

We don’t see a case for chasing gold to levels like $5,000. Based on our in house research (DSP Netra), both gold and silver already look expensive versus their long-term history, and recent returns appear hard to sustain. With limited upside and a weak margin of safety, we would avoid making fresh, aggressive allocations. Investors who already own some gold can treat it as diversification, but we wouldn’t recommend increasing exposure meaningfully from here.

Do you expect digital gold to grow with the development of AI?

I wouldn’t link the growth of digital gold directly to AI. Digital gold is more about convenience, access and transparency. It lets investors buy, store and sell gold easily without worrying about logistics.

AI may help improve platforms, pricing efficiency and customer experience, but it doesn’t change the underlying economics of gold. So while digital gold may see steady adoption as technology improves, its long-term returns will still depend on gold as an asset, not on AI itself.

Do you expect equities to outperform gold in 2026, considering expectations of a strong earnings revival?

Yes, we would lean toward equities over gold in 2026. Gold already looks expensive and offers limited margin of safety. Equities, on the other hand, are coming off several quarters of muted, single-digit earnings growth, so the base is relatively low.

While a sharp earnings revival is not immediately visible in short term, especially with global uncertainties like tariffs, we do think the phase of continuous downgrades may be behind us. That setup generally favours equities over gold on a two-to-three-year view, even if the journey remains volatile.

What are your earnings growth expectations for Q3 FY26, starting next month? Which sectors are likely to see earnings upgrades?

For Q3 FY26, we expect earnings momentum to remain fairly muted. Demand seems to have softened after the festive season, with some recovery likely getting pushed out.

In banks, credit growth is improving, but margins could stay under pressure as lending rates reset faster than deposits in a rate-cutting environment. IT may also be subdued, given seasonal furloughs and no clear signs of acceleration beyond recent trends.

On the brighter side, we see pockets of strength: non-ferrous metals benefiting from higher prices, oil marketing companies, wire and cable players, and jewellers could continue to report healthy numbers. Overall, this looks more like a selective, stock-specific quarter than a broad earnings upgrade cycle.

Do you expect strong earnings growth in the consumer discretionary sector throughout next year?

We’re cautiously optimistic on consumer discretionary sector. Policy support, lower interest rates and improving sentiment can help demand, but wallet-share shifts and intense competition make the space tricky. So, at a top-down level we remain positive but success here will be very stock-specific rather than a broad, sector-wide earnings surge.

Do you think the weakness in the rupee against the US dollar may persist in 2026?

The rupee’s direction will largely depend on factors such as tariff uncertainty, foreign capital flows, interest-rate differentials, oil prices and the strength of the US dollar. On many of these, India is reasonably well placed — oil prices are manageable, the current account is under control, FX reserves are healthy and rate differentials remain supportive.

Potential capital inflows, especially after last year’s FII outflows, also provide a cushion against sharp depreciation. If US tariff issues are resolved and corporate earnings continue to recover, we could even see some gradual strengthening of the rupee over time.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Daily Voice: DSP MF’s Vinit Sambre suggests top investment themes for 2026, avoids fresh aggressive allocations to gold and silver amid expensive valuations

Vinit Sambre, Head – Equities at DSP Mutual Fund, suggested a few top investment themes for 2026. He is constructive on the IT sector, noting that valuations look reasonable and that any improvement in demand—AI-led or otherwise—could unlock upside.

He also favors banks and NBFCs as a play on potential rate cuts, healthy credit growth, and broadly stable asset quality. Real estate could see a pickup in activity as new launches recover after a softer 2025, particularly among stronger developers, he said in an interview with Moneycontrol.

According to him, both gold and silver appear expensive relative to their long-term history, and recent returns may be difficult to sustain. “With limited upside and a weak margin of safety, we would avoid making fresh, aggressive allocations,” he advised.

Do you expect rapid AI growth in India in 2026? Do you plan to significantly focus on the technology space next year?

AI is still evolving, and anyone claiming to fully understand its end-game is probably overstating it. But one thing is clear, India has an advantage in terms of talent. Our engineers, developers and data scientists give us a strong base to participate meaningfully in the global AI wave.

We’re already seeing Indian IT leaders like TCS, Infosys, HCL Technologies and others, launch AI-led services. As companies everywhere embed AI into workflows, demand for implementation, integration and support should keep rising.

Given this backdrop, we are constructive on Indian IT. The sector has underperformed in CY25, and valuations aren’t stretched. Any improvement in demand, AI-driven or otherwise can create attractive value over time.

What are your top themes to play in 2026, and why?

For 2026, a few themes stand out. We are constructive on IT, where valuations look reasonable and any improvement in demand, AI-led or otherwise can unlock upside.

We also like banks and NBFCs as a play on rate cuts, healthy credit growth and broadly stable asset quality. In consumers, policy support and lower rates may help demand, but shifting wallet shares and intense competition mean we will stay very selective.

Real estate could see activity pick up as new launches recover after a softer 2025, especially among stronger developers. And agri-inputs look attractive after valuation corrections driven by weak earnings in H1FY26, with a better Rabi outlook potentially supporting recovery. These are broad themes, but disciplined, bottom-up stock selection will matter most.

Do you continue to bet on gold with a target of $5,000 an ounce in 2026, and should it remain a strong part of every investor’s portfolio?

We don’t see a case for chasing gold to levels like $5,000. Based on our in house research (DSP Netra), both gold and silver already look expensive versus their long-term history, and recent returns appear hard to sustain. With limited upside and a weak margin of safety, we would avoid making fresh, aggressive allocations. Investors who already own some gold can treat it as diversification, but we wouldn’t recommend increasing exposure meaningfully from here.

Do you expect digital gold to grow with the development of AI?

I wouldn’t link the growth of digital gold directly to AI. Digital gold is more about convenience, access and transparency. It lets investors buy, store and sell gold easily without worrying about logistics.

AI may help improve platforms, pricing efficiency and customer experience, but it doesn’t change the underlying economics of gold. So while digital gold may see steady adoption as technology improves, its long-term returns will still depend on gold as an asset, not on AI itself.

Do you expect equities to outperform gold in 2026, considering expectations of a strong earnings revival?

Yes, we would lean toward equities over gold in 2026. Gold already looks expensive and offers limited margin of safety. Equities, on the other hand, are coming off several quarters of muted, single-digit earnings growth, so the base is relatively low.

While a sharp earnings revival is not immediately visible in short term, especially with global uncertainties like tariffs, we do think the phase of continuous downgrades may be behind us. That setup generally favours equities over gold on a two-to-three-year view, even if the journey remains volatile.

What are your earnings growth expectations for Q3 FY26, starting next month? Which sectors are likely to see earnings upgrades?

For Q3 FY26, we expect earnings momentum to remain fairly muted. Demand seems to have softened after the festive season, with some recovery likely getting pushed out.

In banks, credit growth is improving, but margins could stay under pressure as lending rates reset faster than deposits in a rate-cutting environment. IT may also be subdued, given seasonal furloughs and no clear signs of acceleration beyond recent trends.

On the brighter side, we see pockets of strength: non-ferrous metals benefiting from higher prices, oil marketing companies, wire and cable players, and jewellers could continue to report healthy numbers. Overall, this looks more like a selective, stock-specific quarter than a broad earnings upgrade cycle.

Do you expect strong earnings growth in the consumer discretionary sector throughout next year?

We’re cautiously optimistic on consumer discretionary sector. Policy support, lower interest rates and improving sentiment can help demand, but wallet-share shifts and intense competition make the space tricky. So, at a top-down level we remain positive but success here will be very stock-specific rather than a broad, sector-wide earnings surge.

Do you think the weakness in the rupee against the US dollar may persist in 2026?

The rupee’s direction will largely depend on factors such as tariff uncertainty, foreign capital flows, interest-rate differentials, oil prices and the strength of the US dollar. On many of these, India is reasonably well placed — oil prices are manageable, the current account is under control, FX reserves are healthy and rate differentials remain supportive.

Potential capital inflows, especially after last year’s FII outflows, also provide a cushion against sharp depreciation. If US tariff issues are resolved and corporate earnings continue to recover, we could even see some gradual strengthening of the rupee over time.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex Today | Stock Market LIVE Updates: Reliance Industries, Shriram Finance, L&amp;T, Bharti Airtel and Interglobe Aviation are among top gainers on the Nifty, while losers are Dr Reddy's Labs, Cipla, Trent, Bajaj Finserv, Max Healthcare. Among sectors, FMCG index down 1 percent, while telecom index up 1%. BSE Midcap and smallcap indices are trading flat.

Stock Market LIVE Updates: Sensex up 210, Nifty near 26,200; FMCG drags, media, telecom shine

Live Blog

Sensex Today | Stock Market LIVE Updates: Reliance Industries, Shriram Finance, L&amp;amp;T, Bharti Airtel and Interglobe Aviation are among top gainers on the Nifty, while losers are Dr Reddy's Labs, Cipla, Trent, Bajaj Finserv, Max Healthcare. Among sectors, FMCG index down 1 percent, while telecom index up 1%. BSE Midcap and smallcap indices are trading flat.

Nifty closed above 26,100; Sensex up 545 points, metals and PSU banks led rally, IT and telecom lagged; oil & gas index rose 2.5%, most other sectors gained 1%, Over 120 stocks hit 52-week highs; notable gains for JSW Steel, Tata Steel, ONGC

* Nifty closed above 26,100; Sensex up 545 points, metals and PSU banks led rally
* IT and telecom lagged; oil & gas index rose 2.5%, most other sectors gained 1%
* Over 120 stocks hit 52-week highs; notable gains for JSW Steel, Tata Steel, ONGC

Indian markets ended 2025’s first January series session strong, with Nifty above 26,100 and Sensex up 545 points. Gains were broad-based, led by metal and PSU banks, while IT lagged. Over 120 stocks hit 52-week highs; most sectors closed in green.

shorts/business/taking-stock-market-ends-2025-on-strong-note-sensex-jumps-546-pts-nifty-above-26-100

* Nifty closed above 26,100; Sensex up 545 points, metals and PSU banks led rally
* IT and telecom lagged; oil & gas index rose 2.5%, most other sectors gained 1%
* Over 120 stocks hit 52-week highs; notable gains for JSW Steel, Tata Steel, ONGC

The Indian equity markets finished the final trading session of 2025 (first day of January series), on a strong note with Nifty comfortably closing above 26,100. The rally was broad-based and led by sectors such as metal, PSU Bank, oil &amp; gas, while the IT sector lagged behind.

Despite mixed global cues, the Indian indices opened firm and extended the gains as the day progress helped Nifty to touch day's high of 26,187.95, however, amid final hour profit booking the indices finishing near day's high.

At close, Sensex was up 545.52 points or 0.64 percent at 85,220.60, and the Nifty was up 190.75 points or 0.74 percent at 26,129.60.

The broader indices outperformed the main indices with BSE Midcap and smallcap indices adding 1% each.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/foreign-investors-equity-custody-falls-share-hits-14-year-low-13749985.html">Foreign investors’ equity custody falls, share hits 14-year low</a>

For the month of December, BSE Sensex shed 0.5 percent and Nifty fell 0.3 percent, while for the year 2025 both benchmarks rose 10% each.

Biggest Nifty gainers were JSW Steel, Tata Steel, ONGC, SBI Life Insurance, Kotak Mahindra Bank, while losers included TCS, Bajaj Finance, Tech Mahindra, Grasim Industries and Infosys.

On the sectoral front, except IT and telecom, all other indices closed in the green with metal, media, capital goods, realty, Private Bank, PSU Bank, consumer durables, power up 1% each, while oil &amp; gas index rose 2.5%.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/advance-decline-ratio-slips-below-1-for-second-month-13749952.html">Advance-decline ratio slips below 1 for second month</a>

In stock-specific action, RITES shares added 2% on bagging order of USD 3.6 million, Hindustan Copper, Hindustan Zinc down 2% each on falling silver prices, Privi Speciality Chemicals shares slipped 12% post 9.93% equity change hands, Apollo Micro shares added 4% as arm bags contract worth Rs 420 crore, Shakti Pumps shares jumped 3% on bagging order of Rs 170 crore, Dynacons Systems share price surged 11% on order win of Rs 249 crore.

IFCI shares added 4% on monetising 10% equity stake in NEDFi, ZF Steering Gear shares added 9% on securing orders of Rs 151 crore, Titan Company shares added 2% on appointing Sandhya Venugopal Sharma as chairperson, Solar Industries share price gained 2% on winning additional order worth Rs 1,746 crore from Coal India, Wockhardt shares rose 5% on getting European Medicines Agency assessment to WCK 522, Vodafone Idea shares fell 12% on reports AGR relief package.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/the-a-z-of-stock-markets-a-2025-guide-from-moneycontrol-13750771.html">The A-Z of stock markets: A 2025 guide from Moneycontrol</a>

More than 120 stocks hit 52-week high, including HEG, Craftsman Automation, HPCL, SAIL, BPCL, Bank of Maharashtra, Titan Company, Vodafone Idea, Canara Bank, Indus Towers, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-high-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Outlook for January 1

Ajit Mishra – SVP, Research, Religare Broking

Markets ended the final trading session of the calendar year on a positive note, with the Nifty 50 gaining around 0.74%. The index opened marginally higher and gradually moved towards the 26,200 level during the session. However, profit-taking in the final hour trimmed some of the gains, and the Nifty eventually settled at 26,134. Sectoral participation was broad-based, with energy, metal and auto stocks emerging as the top performers. The broader market outperformed the benchmarks, with both mid- and small-cap indices rising close to 1% each.

Market sentiment was primarily driven by domestic policy developments and stock-specific action. The government’s decision to impose safeguard duties on select steel imports boosted sentiment in the metal space, enhancing earnings visibility for domestic producers. Additionally, notable strength in heavyweight stocks across sectors provided further support to the market. These positives helped offset the impact of continued foreign institutional investor outflows, which otherwise kept overall sentiment cautious.

From a technical standpoint, the Nifty has once again approached the upper end of its prevailing consolidation range near 26,200. A decisive breakout above this level could trigger the next leg of upward momentum, while failure to do so may lead to renewed profit-taking. We maintain a positive yet cautious outlook on the index and recommend a sector-specific approach, with a preference for banking, auto and metal stocks, while remaining selective in other sectors.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing weakness with choppy momentum in the last few sessions, Nifty witnessed sharp breakout on Wednesday and closed the day with healthy gains of 190 points. After opening on a positive note, the market continued with sharp upside momentum for better part of the session. However, there was a minor profit booking seen towards the end and Nifty closed near the highs.

A long bull candle was formed on the daily chart with minor upper shadow. This market action was formed after the formation of doji type candle pattern of Tuesday. Technically, this market action indicates a formation of higher bottom reversal pattern. Nifty has moved up from near the support of ascending trend line. This is positive indication and one may expect more upside in the short term.

The underlying trend of Nifty remains positive. One may expect Nifty to advance towards the crucial overhead resistance of around 26250-26350 levels in the short term before consolidating again at the hurdle. Immediate support is placed at 26000.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Taking Stock: Market ends 2025 on strong note; Sensex jumps 546 pts, Nifty above 26,100

The Indian equity markets finished the final trading session of 2025 (first day of January series), on a strong note with Nifty comfortably closing above 26,100. The rally was broad-based and led by sectors such as metal, PSU Bank, oil &amp;amp; gas, while the IT sector lagged behind.

Despite mixed global cues, the Indian indices opened firm and extended the gains as the day progress helped Nifty to touch day's high of 26,187.95, however, amid final hour profit booking the indices finishing near day's high.

At close, Sensex was up 545.52 points or 0.64 percent at 85,220.60, and the Nifty was up 190.75 points or 0.74 percent at 26,129.60.

The broader indices outperformed the main indices with BSE Midcap and smallcap indices adding 1% each.

Also Read: Foreign investors’ equity custody falls, share hits 14-year low

For the month of December, BSE Sensex shed 0.5 percent and Nifty fell 0.3 percent, while for the year 2025 both benchmarks rose 10% each.

Biggest Nifty gainers were JSW Steel, Tata Steel, ONGC, SBI Life Insurance, Kotak Mahindra Bank, while losers included TCS, Bajaj Finance, Tech Mahindra, Grasim Industries and Infosys.

On the sectoral front, except IT and telecom, all other indices closed in the green with metal, media, capital goods, realty, Private Bank, PSU Bank, consumer durables, power up 1% each, while oil &amp;amp; gas index rose 2.5%.

Also Read - Advance-decline ratio slips below 1 for second month

In stock-specific action, RITES shares added 2% on bagging order of USD 3.6 million, Hindustan Copper, Hindustan Zinc down 2% each on falling silver prices, Privi Speciality Chemicals shares slipped 12% post 9.93% equity change hands, Apollo Micro shares added 4% as arm bags contract worth Rs 420 crore, Shakti Pumps shares jumped 3% on bagging order of Rs 170 crore, Dynacons Systems share price surged 11% on order win of Rs 249 crore.

IFCI shares added 4% on monetising 10% equity stake in NEDFi, ZF Steering Gear shares added 9% on securing orders of Rs 151 crore, Titan Company shares added 2% on appointing Sandhya Venugopal Sharma as chairperson, Solar Industries share price gained 2% on winning additional order worth Rs 1,746 crore from Coal India, Wockhardt shares rose 5% on getting European Medicines Agency assessment to WCK 522, Vodafone Idea shares fell 12% on reports AGR relief package.

Also Read - The A-Z of stock markets: A 2025 guide from Moneycontrol

More than 120 stocks hit 52-week high, including HEG, Craftsman Automation, HPCL, SAIL, BPCL, Bank of Maharashtra, Titan Company, Vodafone Idea, Canara Bank, Indus Towers, among others. Click to View More

Outlook for January 1

Ajit Mishra – SVP, Research, Religare Broking

Markets ended the final trading session of the calendar year on a positive note, with the Nifty 50 gaining around 0.74%. The index opened marginally higher and gradually moved towards the 26,200 level during the session. However, profit-taking in the final hour trimmed some of the gains, and the Nifty eventually settled at 26,134. Sectoral participation was broad-based, with energy, metal and auto stocks emerging as the top performers. The broader market outperformed the benchmarks, with both mid- and small-cap indices rising close to 1% each.

Market sentiment was primarily driven by domestic policy developments and stock-specific action. The government’s decision to impose safeguard duties on select steel imports boosted sentiment in the metal space, enhancing earnings visibility for domestic producers. Additionally, notable strength in heavyweight stocks across sectors provided further support to the market. These positives helped offset the impact of continued foreign institutional investor outflows, which otherwise kept overall sentiment cautious.

From a technical standpoint, the Nifty has once again approached the upper end of its prevailing consolidation range near 26,200. A decisive breakout above this level could trigger the next leg of upward momentum, while failure to do so may lead to renewed profit-taking. We maintain a positive yet cautious outlook on the index and recommend a sector-specific approach, with a preference for banking, auto and metal stocks, while remaining selective in other sectors.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing weakness with choppy momentum in the last few sessions, Nifty witnessed sharp breakout on Wednesday and closed the day with healthy gains of 190 points. After opening on a positive note, the market continued with sharp upside momentum for better part of the session. However, there was a minor profit booking seen towards the end and Nifty closed near the highs.

A long bull candle was formed on the daily chart with minor upper shadow. This market action was formed after the formation of doji type candle pattern of Tuesday. Technically, this market action indicates a formation of higher bottom reversal pattern. Nifty has moved up from near the support of ascending trend line. This is positive indication and one may expect more upside in the short term.

The underlying trend of Nifty remains positive. One may expect Nifty to advance towards the crucial overhead resistance of around 26250-26350 levels in the short term before consolidating again at the hurdle. Immediate support is placed at 26000.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

The benchmark equity indices Sensex and Nifty pared a part of their early gains on Wednesday due to a partial profit booking after a sharp morning rise.

After falling for five straight sessions, the Sensex jumped 668.04 points, or 0.79 per cent to 85,343.12 in early trade, while the broader Nifty climbed 219.35 points, or 0.85 per cent to 26,158.20 after four sessions of losses.

However, the indices gave up a portion of their gains later in the session. By 3.15 pm, the Sensex had slipped more than 200 points from the day’s high to trade at 85,212.86, while the Nifty was down from its peak to 26,130.25.

Key reasons behind profit booking

1) Profit booking: The Sensex had risen over 700 points intraday, while the Nifty had moved above the 26,150 level in early trade. As prices moved higher, traders locked in profits, leading to a trimming of gains.

2) FII selling: Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,844.02 crore on Tuesday, marking the sixth consecutive session of net selling.

3) Weak global cues: Weak cues from overseas markets also weighed on sentiment. In Asian trade, South Korea’s Kospi and Hong Kong’s Hang Seng index were lower. US markets ended in the red on Tuesday, and Wall Street futures were also trading lower, indicating a weak opening for US equities.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Sensex pares 200 pts from day's high, Nifty below 26,150: Key reasons behind partial profit booking

The benchmark equity indices Sensex and Nifty pared a part of their early gains on Wednesday due to a partial profit booking after a sharp morning rise.

After falling for five straight sessions, the Sensex jumped 668.04 points, or 0.79 per cent to 85,343.12 in early trade, while the broader Nifty climbed 219.35 points, or 0.85 per cent to 26,158.20 after four sessions of losses.

However, the indices gave up a portion of their gains later in the session. By 3.15 pm, the Sensex had slipped more than 200 points from the day’s high to trade at 85,212.86, while the Nifty was down from its peak to 26,130.25.

Key reasons behind profit booking

1) Profit booking: The Sensex had risen over 700 points intraday, while the Nifty had moved above the 26,150 level in early trade. As prices moved higher, traders locked in profits, leading to a trimming of gains.

2) FII selling: Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,844.02 crore on Tuesday, marking the sixth consecutive session of net selling.

3) Weak global cues: Weak cues from overseas markets also weighed on sentiment. In Asian trade, South Korea’s Kospi and Hong Kong’s Hang Seng index were lower. US markets ended in the red on Tuesday, and Wall Street futures were also trading lower, indicating a weak opening for US equities.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

9 out of 17 years BSE BANKEX has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	67,063.42	67,366.92	67,761.29	66,669.05	66,365.55	65,971.18	65,667.68
Fibonacci	66,935.63	67,100.33	67,366.92	66,669.05	66,402.46	66,237.76	65,971.18
Camarilla	66,823.90	66,887.87	66,951.84	66,669.05	66,695.96	66,631.99	66,568.02

INDEX CONTRIBUTION - BSE BANKEX

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