BSE Healthcare

The Indian markets failed to build on the opening gains and traded in a rangebound movement throughout the session, breaking two-day gaining streak. At close, the Sensex was down 42.64 points or 0.05 percent at 85,524.84, and the Nifty was up 4.75 points or 0.02 percent at 26,177.15.

The BSE midcap index ended flat, while smallcap index rose 0.4 percent.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/ambuja-cements-acc-orient-cement-merger-what-it-means-for-shareholders-13738619.html">Ambuja Cements-ACC-Orient Cement merger: What it means for shareholders?</a>

Coal India, Shriram Finance, UltraTech Cement, Tata Motors Passenger Vehicles, Power Grid Corp were among major gainers on the Nifty, while losers were Infosys, Bharti Airtel, Cipla, Tech Mahindra, Axis Bank.

The BSE midcap index ended flat, while smallcap index rose 0.4 percent.

Also Read: <a href="https://www.moneycontrol.com/news/business/earnings/nifty-near-record-highs-but-9-in-10-stocks-are-still-deep-in-the-red-13738654.html">Nifty near record highs, but 9 in 10 stocks are still deep in the red</a>

In stock-specific action, Belrise Industries share price added 5% on 5.83 crore shares block deal, Puravankara shares jumped 6% on acquiring 53-acre land parcel in Bengaluru, Antony Waste Handling Cell shares added 6% on bagging contract worth Rs 329.45 crore, Restaurant Brands Asia shares gained 3% on block deal of 72.2 lakh shares.

GPT Infraprojects share price rose nearly 3% on order win of Rs 670 crore, SRM Contractors share price fell 6% post CEO resignation, Shakti Pumps share price rose 2% on order win worth Rs 356.77 crore, Dev Information Technology shares gained 4% on securing order from Knowledge Consortium of Gujarat.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/india-s-aif-industry-confronts-its-disclosure-dilemma-13739055.html">India’s AIF industry confronts its disclosure dilemma</a>

Nearly 100 stocks hit 52-week high, including NMDC, Hindustan Copper, Vodafone Idea, City Union Bank, UPL, NALCO, Hindustan Zinc, Eicher Motors, MCX India, Maruti Suzuki, Laurus Labs, M&amp;M Financial, 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 December 24

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing sharp upmove in the last couple of sessions, Nifty cooled off its trend on Tuesday and closed the day on a consolidation mode. After opening on a positive note, the market shifted into a narrow range movement for better part of the session. Minor softness was seen towards the end and Nifty eventually closed on a flat to positive note.

A small red candle was formed on the daily chart with minor upper and lower shadow. Technically, this market action indicates a formation of breather type pattern after a sharp upmove recently. This market action could be an uptrend continuation pattern.

The underlying trend of Nifty remains positive. The market is expected to resume its uptrend after 1 or 2 sessions of consolidation movement or range bound action. Immediate support is placed at 26050. Next upside levels to be watched around 26300-26400 levels.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded in a subdued manner on the weekly expiry day and ended almost unchanged, taking a pause after the recent rebound. Following a steady start, the Nifty oscillated within a tight range with a mild positive bias and eventually settled at 26,177.15. Sectoral participation remained rotational, with metals, FMCG and energy witnessing buying interest, while IT and pharma saw selective pressure. The broader markets moved largely in line with the benchmark and closed flat to marginally positive.

With the holiday-shortened week ahead of the New Year and the absence of major domestic triggers, global cues continue to dictate market direction. This has led to selective positioning rather than aggressive trades, while foreign flows remained mixed.

Going forward, some consolidation in the index is likely after the recent rebound; however, the overall tone is expected to remain positive. We therefore continue to recommend a buy-on-dips approach, with an emphasis on stock selection based on relative strength. A decisive move above the 26,300 level would be required to generate fresh directional momentum, while support remains intact in the 25,950–26,050 zone.

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.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Taking Stock: Sensex, Nifty end flat in rangebound session; IT top drag

The Indian markets failed to build on the opening gains and traded in a rangebound movement throughout the session, breaking two-day gaining streak. At close, the Sensex was down 42.64 points or 0.05 percent at 85,524.84, and the Nifty was up 4.75 points or 0.02 percent at 26,177.15.

The BSE midcap index ended flat, while smallcap index rose 0.4 percent.

Also Read: Ambuja Cements-ACC-Orient Cement merger: What it means for shareholders?

Coal India, Shriram Finance, UltraTech Cement, Tata Motors Passenger Vehicles, Power Grid Corp were among major gainers on the Nifty, while losers were Infosys, Bharti Airtel, Cipla, Tech Mahindra, Axis Bank.

The BSE midcap index ended flat, while smallcap index rose 0.4 percent.

Also Read: Nifty near record highs, but 9 in 10 stocks are still deep in the red

In stock-specific action, Belrise Industries share price added 5% on 5.83 crore shares block deal, Puravankara shares jumped 6% on acquiring 53-acre land parcel in Bengaluru, Antony Waste Handling Cell shares added 6% on bagging contract worth Rs 329.45 crore, Restaurant Brands Asia shares gained 3% on block deal of 72.2 lakh shares.

GPT Infraprojects share price rose nearly 3% on order win of Rs 670 crore, SRM Contractors share price fell 6% post CEO resignation, Shakti Pumps share price rose 2% on order win worth Rs 356.77 crore, Dev Information Technology shares gained 4% on securing order from Knowledge Consortium of Gujarat.

Also Read - India’s AIF industry confronts its disclosure dilemma

Nearly 100 stocks hit 52-week high, including NMDC, Hindustan Copper, Vodafone Idea, City Union Bank, UPL, NALCO, Hindustan Zinc, Eicher Motors, MCX India, Maruti Suzuki, Laurus Labs, M&amp;amp;M Financial, among others. Click to View More

Outlook for December 24

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing sharp upmove in the last couple of sessions, Nifty cooled off its trend on Tuesday and closed the day on a consolidation mode. After opening on a positive note, the market shifted into a narrow range movement for better part of the session. Minor softness was seen towards the end and Nifty eventually closed on a flat to positive note.

A small red candle was formed on the daily chart with minor upper and lower shadow. Technically, this market action indicates a formation of breather type pattern after a sharp upmove recently. This market action could be an uptrend continuation pattern.

The underlying trend of Nifty remains positive. The market is expected to resume its uptrend after 1 or 2 sessions of consolidation movement or range bound action. Immediate support is placed at 26050. Next upside levels to be watched around 26300-26400 levels.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded in a subdued manner on the weekly expiry day and ended almost unchanged, taking a pause after the recent rebound. Following a steady start, the Nifty oscillated within a tight range with a mild positive bias and eventually settled at 26,177.15. Sectoral participation remained rotational, with metals, FMCG and energy witnessing buying interest, while IT and pharma saw selective pressure. The broader markets moved largely in line with the benchmark and closed flat to marginally positive.

With the holiday-shortened week ahead of the New Year and the absence of major domestic triggers, global cues continue to dictate market direction. This has led to selective positioning rather than aggressive trades, while foreign flows remained mixed.

Going forward, some consolidation in the index is likely after the recent rebound; however, the overall tone is expected to remain positive. We therefore continue to recommend a buy-on-dips approach, with an emphasis on stock selection based on relative strength. A decisive move above the 26,300 level would be required to generate fresh directional momentum, while support remains intact in the 25,950–26,050 zone.

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 equity benchmark indices Sensex and Nifty retreated on Tuesday, snapping a two-day rally, as selling pressure emerged in information technology stocks amid profit booking.

At around 11:15 a.m., the Sensex declined 13.82 points or 0.016 percent to 85,553.66, after falling nearly 200 points from the day’s high. The Nifty slipped to 26,168.55, down 3.85 points or 0.015 percent.

Here are five key reasons behind the market decline

1) FII selling: Foreign Institutional Investors (FIIs) sold equities worth Rs 457.34 crore on Monday, according to exchange data. The selling came after three consecutive sessions of net buying by overseas investors.

2) Selling in IT shares: IT stocks witnessed profit booking after four straight sessions of gains. <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> were among the major laggards, declining by up to 5 percent.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-opening-us-asian-markets-gain-liveblog-13738255.html" target="_blank">Stock Market LIVE Updates</a>

3) Profit booking across sectors: Domestic equities saw profit booking after two days of a sharp rally. IT and consumer durables stocks declined the most during early trade.

4) Nifty weekly expiry: Tuesday is also the weekly expiry of Nifty index derivatives. On expiry days, markets tend to witness higher volatility as traders adjust or unwind their positions, leading to sharp intraday swings in benchmark indices.

5) Holiday-shortened week: Market participants remained cautious amid expectations of subdued trading volumes during the holiday-shortened week.

Technical factors 

Commenting on the outlook, Anand James, Chief Market Strategist at Geojit Investments Limited, said the clean break above the declining trendline that had capped the market so far this month has improved confidence of a move towards 26,300 and higher. However, he said the downside marker has shifted upwards to 26,100, and a slip below this level could lead to sideways movement.

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 falls nearly 200 pts from day's high, Nifty below 26,200: 5 key reasons behind market decline

The equity benchmark indices Sensex and Nifty retreated on Tuesday, snapping a two-day rally, as selling pressure emerged in information technology stocks amid profit booking.

At around 11:15 a.m., the Sensex declined 13.82 points or 0.016 percent to 85,553.66, after falling nearly 200 points from the day’s high. The Nifty slipped to 26,168.55, down 3.85 points or 0.015 percent.

Here are five key reasons behind the market decline

1) FII selling: Foreign Institutional Investors (FIIs) sold equities worth Rs 457.34 crore on Monday, according to exchange data. The selling came after three consecutive sessions of net buying by overseas investors.

2) Selling in IT shares: IT stocks witnessed profit booking after four straight sessions of gains. Coforge and Infosys were among the major laggards, declining by up to 5 percent.

Stock Market LIVE Updates

3) Profit booking across sectors: Domestic equities saw profit booking after two days of a sharp rally. IT and consumer durables stocks declined the most during early trade.

4) Nifty weekly expiry: Tuesday is also the weekly expiry of Nifty index derivatives. On expiry days, markets tend to witness higher volatility as traders adjust or unwind their positions, leading to sharp intraday swings in benchmark indices.

5) Holiday-shortened week: Market participants remained cautious amid expectations of subdued trading volumes during the holiday-shortened week.

Technical factors 

Commenting on the outlook, Anand James, Chief Market Strategist at Geojit Investments Limited, said the clean break above the declining trendline that had capped the market so far this month has improved confidence of a move towards 26,300 and higher. However, he said the downside marker has shifted upwards to 26,100, and a slip below this level could lead to sideways movement.

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.

Markets are currently buzzing in anticipation of what is popularly known as the 'Santa rally' in domestic stock markets. Analysts have listed out which are the key triggers markets should look forward to during the festive period, despite remaining divergent in their views about what to expect.

The 'Santa rally' refers to a sharp uptick in the stock markets around Christmas and New Year despite the absence of foreign institutional investors (FII). Indian benchmark indices closed in the deep green on December 22, but were almost flat in the morning trading hours of December 23.
<h3>How have stock markets performed in December so far?</h3>
<a href="https://www.moneycontrol.com/indian-indices/SENSEX-4.html">Sensex</a> gained more than 600 points (0.75 percent) to close at 85,567.48 on Monday. The benchmark index however slipped into the red with marginal losses on Tuesday. It was down 24.27 points (0.03 percent) at 85,545.73, as seen at 10.45 am. The index's overall returns in December so far are still negative.

<a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html">Nifty 50</a> meanwhile rose 206 points (0.79 percent) to 26,172.40 on Monday. The index was trading almost flat in the green on Tuesday. It was up 6.30 points (0.02 percent) at 26,178.70.
<h3>'Selective, range-bound Santa Rally':</h3>
The possibility of a Santa Rally during the year-end cannot be ruled out, said Kunal Kamble, Senior Technical Research Analyst at Bonanza. He however noted that this rally may remain selective and range-bound rather than a sharp one-sided move.

“From a participation perspective, FII activity has moderated, with net open positions around –₹13,964 crore. Historically, December has been dominated by DII and retail participation, which generally carries a bullish bias due to year-end optimism and portfolio adjustments,” he added.
<h3>'Santa Rally dependent on India-US trade deal'</h3>
Shravan Shetty, Managing Director at Primus Partners said that the possibility of a Santa rally is primarily dependent on positive news, specifically in terms of the India-US trade deal. He noted that the current FII outflow has led to consolidation this year, after higher returns compared to global markets seen post COVID-19 era.

"The Nifty is close to the peak seen in September 2024, and hence we believe there would need to be an external trigger that will move markets outside of the band it’s been in for the past 18 months," he said.
<h3>India positioning itself for 'Grand slam' phase over medium term:</h3>
Harshal Dasani, Business Head at INVasset PMS, however said that the idea of a year-end ‘Santa Rally’ is more nuanced than a simple seasonal surge. “Globally, risk appetite is clearly supportive—several major equity markets are trading near or at all-time highs, monetary conditions are easing, and the RBI’s rate cuts have improved domestic liquidity and borrowing sentiment. Combined with recent tax relief measures and the festive season tailwinds, India has many ingredients in place for a strong cyclical upswing in consumption and corporate activity,” he explained.

The broader setup suggests India is positioning itself for a potential “grand slam” phase over the medium term, Dasani said. He however cautioned that the near-term constraint remains sentiment rather than fundamentals.

“Markets appear to be consolidating and waiting for clarity on the India–US trade relationship, which has become a key overhang. Progress on this front is likely to take time, especially given India’s calibrated strategic alignment with Beijing and Moscow, which complicates negotiations. As a result, while sharp, runaway gains during the festive year-end period cannot be ruled out, the more probable outcome is a measured move—where optimism builds gradually rather than explosively. A decisive breakout may require geopolitical and trade clarity, rather than just seasonal cheer,” he added.
<h3>Only selective uptick ahead?</h3>
Siddharth Maurya, Founder &amp; Managing Director at Vibhavangal Anukulakara did not agree to the idea of Indian markets seeing a sharp festive surge. He suggested that markets may see only a selective and modest uptick during this period.

"Liquidity tends to improve towards the year-end, and short-covering can support prices, but sustained gains will depend on global cues, FII flows and earnings visibility. In the current environment, any Santa Rally is likely to be stock-specific and range-bound, rather than a broad-based rally across benchmark indices," he said.
<h3>Technical outlook:</h3>
Kamble noted that Nifty has often seen a sharp correction around December 21 historically, and then saw stabilization. “In the current setup, such a sharp correction has not yet occurred. Instead, Nifty witnessed mild profit booking after making an all-time high, indicating healthy consolidation rather than distribution,” he noted.

India VIX is currently trading near its lower support zone, indicating complacency, Kamble said, adding that such low volatility environment often precedes abrupt directional moves, making the near-term setup more favourable for option buyers.

“A mild Santa Rally bias can be maintained as long as key supports hold. The market is showing structural stability rather than aggressive momentum, suggesting controlled upside with intermittent consolidation,” he concluded.

Explaining the technical side of the markets, Kamble said the Nifty 50 is clearly respecting the 25,720 level, where a window formation on the daily timeframe is visible. This suggests that the market is likely to treat this zone as an important base in the near term.

“From a trend perspective, the bias remains positive as long as Nifty sustains above the near-term support at 25,995, followed by 25,720. On the upside, immediate resistance is placed near 26,330, and a move beyond this level could open the path toward 26,450,” he added.

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.

Are markets heading for Santa rally? Analysts advise investors to exercise cautious optimism

Markets are currently buzzing in anticipation of what is popularly known as the 'Santa rally' in domestic stock markets. Analysts have listed out which are the key triggers markets should look forward to during the festive period, despite remaining divergent in their views about what to expect.

The 'Santa rally' refers to a sharp uptick in the stock markets around Christmas and New Year despite the absence of foreign institutional investors (FII). Indian benchmark indices closed in the deep green on December 22, but were almost flat in the morning trading hours of December 23.
How have stock markets performed in December so far?
Sensex gained more than 600 points (0.75 percent) to close at 85,567.48 on Monday. The benchmark index however slipped into the red with marginal losses on Tuesday. It was down 24.27 points (0.03 percent) at 85,545.73, as seen at 10.45 am. The index's overall returns in December so far are still negative.

Nifty 50 meanwhile rose 206 points (0.79 percent) to 26,172.40 on Monday. The index was trading almost flat in the green on Tuesday. It was up 6.30 points (0.02 percent) at 26,178.70.
'Selective, range-bound Santa Rally':
The possibility of a Santa Rally during the year-end cannot be ruled out, said Kunal Kamble, Senior Technical Research Analyst at Bonanza. He however noted that this rally may remain selective and range-bound rather than a sharp one-sided move.

“From a participation perspective, FII activity has moderated, with net open positions around –₹13,964 crore. Historically, December has been dominated by DII and retail participation, which generally carries a bullish bias due to year-end optimism and portfolio adjustments,” he added.
'Santa Rally dependent on India-US trade deal'
Shravan Shetty, Managing Director at Primus Partners said that the possibility of a Santa rally is primarily dependent on positive news, specifically in terms of the India-US trade deal. He noted that the current FII outflow has led to consolidation this year, after higher returns compared to global markets seen post COVID-19 era.

&quot;The Nifty is close to the peak seen in September 2024, and hence we believe there would need to be an external trigger that will move markets outside of the band it’s been in for the past 18 months,&quot; he said.
India positioning itself for 'Grand slam' phase over medium term:
Harshal Dasani, Business Head at INVasset PMS, however said that the idea of a year-end ‘Santa Rally’ is more nuanced than a simple seasonal surge. “Globally, risk appetite is clearly supportive—several major equity markets are trading near or at all-time highs, monetary conditions are easing, and the RBI’s rate cuts have improved domestic liquidity and borrowing sentiment. Combined with recent tax relief measures and the festive season tailwinds, India has many ingredients in place for a strong cyclical upswing in consumption and corporate activity,” he explained.

The broader setup suggests India is positioning itself for a potential “grand slam” phase over the medium term, Dasani said. He however cautioned that the near-term constraint remains sentiment rather than fundamentals.

“Markets appear to be consolidating and waiting for clarity on the India–US trade relationship, which has become a key overhang. Progress on this front is likely to take time, especially given India’s calibrated strategic alignment with Beijing and Moscow, which complicates negotiations. As a result, while sharp, runaway gains during the festive year-end period cannot be ruled out, the more probable outcome is a measured move—where optimism builds gradually rather than explosively. A decisive breakout may require geopolitical and trade clarity, rather than just seasonal cheer,” he added.
Only selective uptick ahead?
Siddharth Maurya, Founder &amp;amp; Managing Director at Vibhavangal Anukulakara did not agree to the idea of Indian markets seeing a sharp festive surge. He suggested that markets may see only a selective and modest uptick during this period.

&quot;Liquidity tends to improve towards the year-end, and short-covering can support prices, but sustained gains will depend on global cues, FII flows and earnings visibility. In the current environment, any Santa Rally is likely to be stock-specific and range-bound, rather than a broad-based rally across benchmark indices,&quot; he said.
Technical outlook:
Kamble noted that Nifty has often seen a sharp correction around December 21 historically, and then saw stabilization. “In the current setup, such a sharp correction has not yet occurred. Instead, Nifty witnessed mild profit booking after making an all-time high, indicating healthy consolidation rather than distribution,” he noted.

India VIX is currently trading near its lower support zone, indicating complacency, Kamble said, adding that such low volatility environment often precedes abrupt directional moves, making the near-term setup more favourable for option buyers.

“A mild Santa Rally bias can be maintained as long as key supports hold. The market is showing structural stability rather than aggressive momentum, suggesting controlled upside with intermittent consolidation,” he concluded.

Explaining the technical side of the markets, Kamble said the Nifty 50 is clearly respecting the 25,720 level, where a window formation on the daily timeframe is visible. This suggests that the market is likely to treat this zone as an important base in the near term.

“From a trend perspective, the bias remains positive as long as Nifty sustains above the near-term support at 25,995, followed by 25,720. On the upside, immediate resistance is placed near 26,330, and a move beyond this level could open the path toward 26,450,” he added.

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.

The equity benchmark indices Sensex and Nifty pared some early losses on Tuesday, however, settled lower amid profit-taking in IT and pharma shares.

Snapping the two-day gaining streak, the Sensex dipped 42.64 points or 0.05 percent to settle at 85,524.84. During the day, it hit a high of 85,704.93 and a low of 85,342.99. The Nifty closed marginally up by 4.75 points or 0.02 percent to 26,177.15.

Key factors behind market rebound

1) Positive global cues: Positive trends in overseas markets aided sentiment. In Asian trade, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng were trading in the green. US markets ended higher on Monday.

2) Crude Declines: Lower crude oil prices also lent support to domestic equities. Brent crude, the global oil benchmark, slipped 0.08 percent to USD 62.02 per barrel. A softer crude price eases pressure on India’s import bill and inflation outlook, which is generally seen as positive for the economy and equity markets.

3) Decline in India Vix: Adding to the positive undertone was a decline in market volatility. The India VIX, which measures near-term volatility and is often referred to as the fear gauge, dropped 2.17 percent to 9.46. A lower VIX indicates reduced uncertainty and improves risk appetite among investors.

4) India-US trade talks: Investor focus remained on India-US trade talks. Commerce and Industry Minister Piyush Goyal on December 22 said India is in advanced discussions with the United States on a trade agreement. He made the remarks in New Delhi while briefing the media after the conclusion of the India-New Zealand free trade agreement. A breakthrough is awaited in the long-running negotiations.

5) Value Buying: Markets opened on a subdued note but soon found support as investors stepped in to buy select stocks after the early decline.

Technical Analysis

Anand James, Chief Market Strategist at Geojit Investments Limited, said the Nifty’s clean break beyond the declining trendline that had capped the market so far this month has improved the outlook.

"This strengthens our confidence towards expecting 26,300 and higher levels. Meanwhile, the downside marker has been pushed higher towards 26,100, a slippage past which could lead to sideways moves," 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.

Sensex settles 200 pts higher from day’s low, Nifty ends above 26,150: Positive global cues among key factors behind market rebound

Sensex news today: Sensex settles 200 pts higher from day’s low, Nifty ends above 26,150: Positive global cues among key factors behind market rebound

The equity benchmark indices Sensex and Nifty pared some early losses on Tuesday, however, settled lower amid profit-taking in IT and pharma shares.

Snapping the two-day gaining streak, the Sensex dipped 42.64 points or 0.05 percent to settle at 85,524.84. During the day, it hit a high of 85,704.93 and a low of 85,342.99. The Nifty closed marginally up by 4.75 points or 0.02 percent to 26,177.15.

Key factors behind market rebound

1) Positive global cues: Positive trends in overseas markets aided sentiment. In Asian trade, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng were trading in the green. US markets ended higher on Monday.

2) Crude Declines: Lower crude oil prices also lent support to domestic equities. Brent crude, the global oil benchmark, slipped 0.08 percent to USD 62.02 per barrel. A softer crude price eases pressure on India’s import bill and inflation outlook, which is generally seen as positive for the economy and equity markets.

3) Decline in India Vix: Adding to the positive undertone was a decline in market volatility. The India VIX, which measures near-term volatility and is often referred to as the fear gauge, dropped 2.17 percent to 9.46. A lower VIX indicates reduced uncertainty and improves risk appetite among investors.

4) India-US trade talks: Investor focus remained on India-US trade talks. Commerce and Industry Minister Piyush Goyal on December 22 said India is in advanced discussions with the United States on a trade agreement. He made the remarks in New Delhi while briefing the media after the conclusion of the India-New Zealand free trade agreement. A breakthrough is awaited in the long-running negotiations.

5) Value Buying: Markets opened on a subdued note but soon found support as investors stepped in to buy select stocks after the early decline.

Technical Analysis

Anand James, Chief Market Strategist at Geojit Investments Limited, said the Nifty’s clean break beyond the declining trendline that had capped the market so far this month has improved the outlook.

&quot;This strengthens our confidence towards expecting 26,300 and higher levels. Meanwhile, the downside marker has been pushed higher towards 26,100, a slippage past which could lead to sideways moves,&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: Will Nifty extend gains to third day and reclaim record highs? | Opening Bell

10 out of 17 years BSE HEALTHCARE has given positive returns in December.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	44,391.11	44,517.30	44,747.52	44,160.89	44,034.70	43,804.48	43,678.29
Fibonacci	44,297.04	44,381.15	44,517.30	44,160.89	44,024.74	43,940.63	43,804.48
Camarilla	44,297.58	44,330.25	44,362.92	44,160.89	44,232.24	44,199.57	44,166.90

INDEX CONTRIBUTION - BSE Healthcare

Net Contribution

MC TechnicalsPRO

Pivot levels

Seasonality analysis

News

Moving Averages
Technical Indicators
Moving Averages Crossovers