BSE BANKEX

The equity benchmark indices staged a sharp recovery on Thursday, rising over 400 points from the day’s low in a highly volatile session marked by the weekly derivatives expiry of Sensex.

The markets opened firm but soon gave up early gains and slipped into the red. Benchmark indices later bounced back as value buying emerged after three straight sessions of decline.

At around 12:35 pm, the Sensex was up 449.62 points or 0.53 percent to 84,840.89, while the broader Nifty advanced to 25,906.90, up 148.90 points or 0.58 percent.

Earlier in the session, both indices had dropped sharply, with the Sensex falling 222.39 points to 84,168.88 and the Nifty slipping 50.90 points to 25,707.10 on renewed selling pressure.

<a href="https://www.moneycontrol.com/india/stockpricequote/online-services/eternal/Z">ETERNAL</a>, Kotak Mahindra Bank and Jio Financial Services were among the top gainers in the Nifty50 pack, rising up to 2 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/retail/trent/T04">Trent</a> and Bharti Airtel declined up to 1 percent. Market breadth turned positive as about 1869 shares advanced, 1575 shares declined and 158 shares unchanged.
<h3>Key factors behind the recovery</h3>
1) Value buying: Buying interest returned in sectors such as IT, auto, metal, realty, banking and financial services after recent losses. Metal stocks gained up to 1 percent, tracking firmer global prices on a weaker US dollar, which makes commodities cheaper for overseas buyers. IT shares were up around 0.3 percent after Fed rate cut. Strong buying was also seen in Bank Nifty was up 0.7 percent.

2) Trade deal hopes: The investor mood improved after India’s chief economic advisor V. Anantha Nageswaran said most of the trade issues between New Delhi and Washington have been “sorted out”. The top economist, in an interview with Bloomberg TV, said he has full confidence that an agreement will be reached by March 2026.

Earlier, the US Trade Representative Jamieson Greer told lawmakers that India has made “the best we’ve ever received as a country” in ongoing discussions, IANS reported.
<h3><a href="https://www.moneycontrol.com/news/india/cea-nageswaran-says-most-trade-issues-between-india-us-sorted-out-will-be-surprised-if-no-deal-by-march-13720798.html" target="_blank">CEA Nageswaran says most trade issues between India, US 'sorted out'</a></h3>
3) US Fed rate cut: The US Federal Reserve on Wednesday reduced its benchmark interest rate by 25 basis points, the lowest level in more than three years. Lower US rates generally support flows into emerging markets, including India, and tend to improve business spending outlooks for sectors like IT.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-hints-a-positive-start-us-asian-markets-gain-liveblog-13720402.html" target="_blank">Stock Market LIVE Updates</a>

4) Volatility index eases: India VIX declined nearly 2 percent to 10.74. A softer VIX generally indicates reduced near-term market uncertainty, offering some support to sentiment.

5) Global cues: US equities closed higher overnight after the Fed’s rate cut, providing positive cues for domestic investors.

6) Expiry-related volatility: The session coincided with the weekly expiry of Sensex derivatives, a period that typically sees sharp intraday swings as traders unwind or roll over positions.
<h3>Technical view</h3>
Anand James, Chief Market Strategist at Geojit Financial Services, said the Nifty’s revisit of the previous day’s low of 25,732 offered little directional clarity, with momentum indicators remaining soft. "The bias continues to favour further slippage. A regrouping of bulls is expected in the 25,690–25,630 zone, and a fall below this band would weaken upside prospects," he said.

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.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

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Sensex rises 450 pts, Nifty above 25,900: Six key reasons behind markets snapping three-day losses

Sensex news today: Sensex rises 450 pts, Nifty above 25,900: Six key reasons behind markets snapping three-day losses

The equity benchmark indices staged a sharp recovery on Thursday, rising over 400 points from the day’s low in a highly volatile session marked by the weekly derivatives expiry of Sensex.

The markets opened firm but soon gave up early gains and slipped into the red. Benchmark indices later bounced back as value buying emerged after three straight sessions of decline.

At around 12:35 pm, the Sensex was up 449.62 points or 0.53 percent to 84,840.89, while the broader Nifty advanced to 25,906.90, up 148.90 points or 0.58 percent.

Earlier in the session, both indices had dropped sharply, with the Sensex falling 222.39 points to 84,168.88 and the Nifty slipping 50.90 points to 25,707.10 on renewed selling pressure.

ETERNAL, Kotak Mahindra Bank and Jio Financial Services were among the top gainers in the Nifty50 pack, rising up to 2 percent, while Trent and Bharti Airtel declined up to 1 percent. Market breadth turned positive as about 1869 shares advanced, 1575 shares declined and 158 shares unchanged.
Key factors behind the recovery
1) Value buying: Buying interest returned in sectors such as IT, auto, metal, realty, banking and financial services after recent losses. Metal stocks gained up to 1 percent, tracking firmer global prices on a weaker US dollar, which makes commodities cheaper for overseas buyers. IT shares were up around 0.3 percent after Fed rate cut. Strong buying was also seen in Bank Nifty was up 0.7 percent.

2) Trade deal hopes: The investor mood improved after India’s chief economic advisor V. Anantha Nageswaran said most of the trade issues between New Delhi and Washington have been “sorted out”. The top economist, in an interview with Bloomberg TV, said he has full confidence that an agreement will be reached by March 2026.

Earlier, the US Trade Representative Jamieson Greer told lawmakers that India has made “the best we’ve ever received as a country” in ongoing discussions, IANS reported.
CEA Nageswaran says most trade issues between India, US 'sorted out'
3) US Fed rate cut: The US Federal Reserve on Wednesday reduced its benchmark interest rate by 25 basis points, the lowest level in more than three years. Lower US rates generally support flows into emerging markets, including India, and tend to improve business spending outlooks for sectors like IT.

Stock Market LIVE Updates

4) Volatility index eases: India VIX declined nearly 2 percent to 10.74. A softer VIX generally indicates reduced near-term market uncertainty, offering some support to sentiment.

5) Global cues: US equities closed higher overnight after the Fed’s rate cut, providing positive cues for domestic investors.

6) Expiry-related volatility: The session coincided with the weekly expiry of Sensex derivatives, a period that typically sees sharp intraday swings as traders unwind or roll over positions.
Technical view
Anand James, Chief Market Strategist at Geojit Financial Services, said the Nifty’s revisit of the previous day’s low of 25,732 offered little directional clarity, with momentum indicators remaining soft. &quot;The bias continues to favour further slippage. A regrouping of bulls is expected in the 25,690–25,630 zone, and a fall below this band would weaken upside prospects,&quot; he said.

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.

Live: Can Nifty snap 3-day losing streak after Fed's policy outcome? | Opening Bell

Indian benchmark indices, Sensex and Nifty, are likely open gap-up on December 11, with cues coming from GIFT Nifty, which was trading lower at around 25,950.50.

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

In the highly volatile session on December 10, the benchmark indices ended lower with Nifty finishing around 25,750 and extended the losing streak for the third consecutive session, ahead of the FOMC meeting outcome.

At close, the Sensex was down 275.01 points or 0.32 percent at 84,391.27, and the Nifty was down 81.65 points or 0.32 percent at 25,758.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 25,950.50, indicating a strong opening for the day.

Asian Equities (Up)

Asian equities echoed gains on Wall Street after the Federal Reserve cut interest rates and Chair Jerome Powell voiced optimism that the US economy will strengthen as the inflationary impact from tariffs fades away.



US Equities (Gain)

Wall Street ended higher on Wednesday, after the Federal Reserve cut interest rates by a quarter percentage point as expected and investors bet on further easing down the road even as the central bank signaled that it will put further cuts on pause for now.

In his press conference Fed Chair Jerome Powell declined to provide guidance on whether there will be another rate cut in the near future. However, investors garnered some hope for easing from his comments that the labor market has significant downside risks and that the central bank doesn't want its policy to push down on job creation.

The S&amp;amp;P 500 closed up 46.17 points, or 0.67%, at 6,886.68, eyeing a return to its October 28 record closing high but ultimately falling short at the end of trading.

The Dow Jones Industrial Average rose 497.46 points, or 1.05%, to 48,057.75 while the Nasdaq Composite gained 77.67 points, or 0.33%, to 23,654.16.



US Bond Yield (Down)

The yield on 10-year treasuries shed one basis point to 4.13%, while the 2-year Treasury yield was down marginally at 3.53%.



Dollar Index (Down)

The dollar fell on Thursday after the Federal Reserve delivered an outlook that was not as hawkish as some had anticipated, giving investors confidence to short the currency as they bet on two more rate cuts next year.



Asian Currencies (Up)

Except the Indonesian Rupiah, China Renminbi, all other Asian currencies were trading higher in the early Thursday trade.



Crude (Rises)

Oil extended an advance after the US seized a sanctioned tanker off Venezuela, deterring more shipments from the South American producer and raising the risk of a conflict.



Gold (Up)

Gold held gains after the US Federal Reserve delivered a widely expected third straight interest-rate cut on Wednesday. Silver rose to a record.



Fund Flow Action

The Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1651 crore on December 10, while Domestic Institutional Investors (DIIs) purchased equities of more than Rs 3752 crore on the same day.



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.

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

Ashwini Shami, President and Chief Portfolio Manager at OmniScience Capital believes banking and financial services are likely to be repriced over the next few quarters as corporate capex picks up.

Power, logistics and professional services represent other strong growth opportunities in 2026 that are currently available at significant discounts to intrinsic value, he said in an interview to Moneycontrol.

Meanwhile, with 125 basis points of rate cuts already delivered this year, along with other growth-supportive measures such as personal tax relaxations and GST rate cuts, the RBI has no immediate urgency to cut rates further, but with inflation below the lower end of the RBI’s target range, another rate cut in 2026 cannot be ruled out.

Do you expect 2026 to be a year dominated by large caps over midcaps and small caps?

From a valuation standpoint, large caps have significant pockets of favourably priced companies compared with midcaps. In the small-cap space, given the larger pool of companies in the segment, one can still identify mispriced opportunities. The Nifty 100 index is currently at 22x, whereas the Nifty Midcap 150 and Nifty Small-cap 250 indices trade at 32x and 28x trailing 12-month earnings, respectively.

Do you think the year gone by (2025) was challenging for the Indian market compared with global markets and other asset classes? What is your outlook for next year?

Over the last year, the Nasdaq 100 and S&amp;P 500 have seen strong rallies driven by a select group of AI stocks, which has taken many of these stocks to premium valuations. Given that the trailing P/E for the S&amp;P 500 index is 28 compared with 22 for the Nifty 100, and considering the strong growth momentum of the Indian economy, the outlook for the Indian market remains favourable.

Do you believe the market has already priced in the strong earnings growth expected in the second half of FY26?

There is a strong likelihood of large caps repricing as economic growth sustains in the second half of the year. The underperformance of mid- and small-cap segments over the last year has rationalised valuations to some extent. However, the space still appears fully priced.

FII flows and rupee depreciation—amid evolving India–US trade deal negotiations, a widening current account deficit, and interest rate cuts—are some of the key factors that will determine market direction going forward.

Do you see meaningful opportunities in engineering and pharmaceutical companies?

As we move through a massive capex cycle focused on infrastructure, energy transition and manufacturing, the engineering space has strong growth potential for more than a decade. While there are pockets of extreme overvaluation in some companies, we see favourable valuations and good growth opportunities in sub-industries such as construction and engineering, renewables, and select machinery and equipment manufacturers.

Do you think the increased supply of paper (IPOs) going forward could act as a headwind for the Indian market?

IPOs bring new investment ideas to the market and are healthy for the markets in the long run. Structurally, IPOs are priced at a premium to intrinsic value, yet investors are often attracted to these offerings while chasing listing gains and new businesses. This may result in some irrational capital allocation, especially during bull-market phases.

However, this is not a major concern for the overall market, as the typical size of IPOs in a year is relatively small compared with total market capitalization.

After a 125 bps cut in the repo rate, do you see any significant scope for further rate cuts in 2026?

With inflation below the lower end of the RBI’s target range, another rate cut in 2026 cannot be ruled out. The central bank will be monitoring economic growth and is likely to take action if there are indications of a slowdown over the next couple of quarters.

With 125 basis points of rate cuts already delivered this year, along with other growth-supportive measures such as personal tax relaxations and GST rate cuts, the RBI has no immediate urgency to cut rates further.

Which sectors are likely to dominate the headlines in 2026?

Banking and financial services are likely to be repriced over the next few quarters as corporate capex picks up. Retail segments are also expected to deliver strong growth supported by GST cuts, a lower interest rate environment and rising affordable housing demand.

Power, logistics and professional services represent other strong growth opportunities that are currently available at significant discounts to intrinsic value.

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.

Daily Voice: OmniScience Capital's Ashwini Shami sees strong growth in power, logistics, professional services in 2026

Ashwini Shami, President and Chief Portfolio Manager at OmniScience Capital believes banking and financial services are likely to be repriced over the next few quarters as corporate capex picks up.

Power, logistics and professional services represent other strong growth opportunities in 2026 that are currently available at significant discounts to intrinsic value, he said in an interview to Moneycontrol.

Meanwhile, with 125 basis points of rate cuts already delivered this year, along with other growth-supportive measures such as personal tax relaxations and GST rate cuts, the RBI has no immediate urgency to cut rates further, but with inflation below the lower end of the RBI’s target range, another rate cut in 2026 cannot be ruled out.

Do you expect 2026 to be a year dominated by large caps over midcaps and small caps?

From a valuation standpoint, large caps have significant pockets of favourably priced companies compared with midcaps. In the small-cap space, given the larger pool of companies in the segment, one can still identify mispriced opportunities. The Nifty 100 index is currently at 22x, whereas the Nifty Midcap 150 and Nifty Small-cap 250 indices trade at 32x and 28x trailing 12-month earnings, respectively.

Do you think the year gone by (2025) was challenging for the Indian market compared with global markets and other asset classes? What is your outlook for next year?

Over the last year, the Nasdaq 100 and S&amp;amp;P 500 have seen strong rallies driven by a select group of AI stocks, which has taken many of these stocks to premium valuations. Given that the trailing P/E for the S&amp;amp;P 500 index is 28 compared with 22 for the Nifty 100, and considering the strong growth momentum of the Indian economy, the outlook for the Indian market remains favourable.

Do you believe the market has already priced in the strong earnings growth expected in the second half of FY26?

There is a strong likelihood of large caps repricing as economic growth sustains in the second half of the year. The underperformance of mid- and small-cap segments over the last year has rationalised valuations to some extent. However, the space still appears fully priced.

FII flows and rupee depreciation—amid evolving India–US trade deal negotiations, a widening current account deficit, and interest rate cuts—are some of the key factors that will determine market direction going forward.

Do you see meaningful opportunities in engineering and pharmaceutical companies?

As we move through a massive capex cycle focused on infrastructure, energy transition and manufacturing, the engineering space has strong growth potential for more than a decade. While there are pockets of extreme overvaluation in some companies, we see favourable valuations and good growth opportunities in sub-industries such as construction and engineering, renewables, and select machinery and equipment manufacturers.

Do you think the increased supply of paper (IPOs) going forward could act as a headwind for the Indian market?

IPOs bring new investment ideas to the market and are healthy for the markets in the long run. Structurally, IPOs are priced at a premium to intrinsic value, yet investors are often attracted to these offerings while chasing listing gains and new businesses. This may result in some irrational capital allocation, especially during bull-market phases.

However, this is not a major concern for the overall market, as the typical size of IPOs in a year is relatively small compared with total market capitalization.

After a 125 bps cut in the repo rate, do you see any significant scope for further rate cuts in 2026?

With inflation below the lower end of the RBI’s target range, another rate cut in 2026 cannot be ruled out. The central bank will be monitoring economic growth and is likely to take action if there are indications of a slowdown over the next couple of quarters.

With 125 basis points of rate cuts already delivered this year, along with other growth-supportive measures such as personal tax relaxations and GST rate cuts, the RBI has no immediate urgency to cut rates further.

Which sectors are likely to dominate the headlines in 2026?

Banking and financial services are likely to be repriced over the next few quarters as corporate capex picks up. Retail segments are also expected to deliver strong growth supported by GST cuts, a lower interest rate environment and rising affordable housing demand.

Power, logistics and professional services represent other strong growth opportunities that are currently available at significant discounts to intrinsic value.

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 Today | Stock Market LIVE Updates: Kotak Mahindra Bank, Eternal, Jio Financial, Dr Reddy's Labs, Maruti Suzuki are among major gainers on the Nifty, while losers are Bharti Airtel, Asian Paints, Titan Company, Interglobe Aviation, HDFC Life. Except oil &amp; gas, all other sectoral indices are trading in the green. BSE Midcap and smallcap indices are trading higher.

Stock Market LIVE Updates: Nifty reclaims 25,900, Sensex up 460 points; Shakti Pumps wins order worth Rs 407cr

Live Blog

Sensex Today | Stock Market LIVE Updates: Kotak Mahindra Bank, Eternal, Jio Financial, Dr Reddy's Labs, Maruti Suzuki are among major gainers on the Nifty, while losers are Bharti Airtel, Asian Paints, Titan Company, Interglobe Aviation, HDFC Life. Except oil &amp;amp; gas, all other sectoral indices are trading in the green. BSE Midcap and smallcap indices are trading higher.

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

Type	R1	R2	R3	PP	S1	S2	S3
Classic	66,490.02	66,856.49	67,115.38	66,231.13	65,864.66	65,605.77	65,239.30
Fibonacci	66,470.02	66,617.60	66,856.49	66,231.13	65,992.24	65,844.66	65,605.77
Camarilla	66,180.87	66,238.20	66,295.52	66,231.13	66,066.23	66,008.90	65,951.58

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