BSE SME IPO

Avinash Agarwal is reasonably positive on the entire value chain of the capital market as it is an emerging sector.

shorts/business/daily-voice-avinash-agarwal-explains-why-real-estate-sector-can-be-a-good-contra-bet-for-2026

Avinash Agarwal, senior vice president &amp; head – Equity at Bandhan Life, believes the real estate sector can be a good contra bet for 2026.

"This year (2025) we saw a correction in this sector, and valuations have come to a more reasonable level. We also witnessed rate cuts this year, which should help boost demand, especially in the value segment," he said in an interview to Moneycontrol.

He believes 2026 will be much better for the mid and small-cap segment given that the earnings growth is expected to improve and the full benefit of rate cuts, GST reforms, and other announcements will flow into the economy.

Are you positive on the entire value chain within the capital markets space for 2026?

We are reasonably positive on the entire value chain of the capital market as it is an emerging sector. The financialization of the economy has been taking prominence in the last few years, and we believe there is still a long way to go. Also, most of these businesses are capital light and generate good ROEs for the investors.

Do you expect 2026 to be a significantly better year than 2025 for equity markets, given that most negative factors appear to be discounted and several others have turned favourable for India?

Yes, we believe 2026 will be better than 2025 given that we have seen relatively muted returns from the market. While the Nifty has given about 10% returns, some segments of mid- and small-caps have seen meaningful correction.

We believe 2026 will be much better for the mid and small-cap segment given that the earnings growth is expected to improve and the full benefit of rate cuts, GST reforms, and other announcements will flow into the economy.

Despite the prevailing market perception that midcaps are overvalued, we are launching a new midcap fund in early 2026. Our conviction is based on two key pillars. First, midcaps have historically been the market’s top-performing segment over the long term, making them an essential component for life insurance portfolios. Second, we believe high-growth midcap companies should be evaluated using the Price/Earnings-to-Growth (PEG) ratio rather than a standard P/E multiple. On a PEG basis, midcaps are currently trading at attractive levels relative to large caps.

For 2026, do you prefer domestic economy–focused sectors over export-oriented sectors?

We believe that the domestic economy will be far more resilient compared to the global economy in the near future. The global economy is facing some challenges, in the form of conflicts, slower growth, currency challenges and fear of overspending on AI.

The domestic economy, on the other hand, is growing at a steady pace, boosted by favourable demographics, government reforms, lower interest rates, and clean balance sheets of the banks and companies. In this context, the mid caps are a better proxy for the India growth story.

Are you avoiding the IT services sector even in 2026, considering the possibility of a weakening US economy?

The IT sector has faced several challenges over the past 2–3 years, with AI being the biggest one at present. The companies need to adapt to this change. We have seen the Indian IT players adapt to technological changes in the past and continue to grow.

We believe the companies would be able to do it again. Some of these challenges have been factored into the valuations already. For 2026 we have a neutral view on the sector.

Do you expect any announcement related to an India–US trade deal from Trump in the next couple of weeks? Would such an announcement have more of a sentiment-driven impact rather than a fundamental one?

It is very difficult to give a timeline on the signing of any deal given the number of complexities involved. However, we believe that a deal would certainly be positive, as the US is a large export market for Indian companies. Some labour-intensive sectors such as gems and jewellery and textiles are dependent on exports to the US. Hence, if a deal is announced, it would certainly have a positive fundamental impact on the businesses and economy.

What is your contrarian (contra) bet for 2026?

We feel the real estate sector can be a good contra bet for 2026. The sector started its revival post-covid where we saw both price and volume recovery. While the price increases have slowed now, we continue to see decent volume growth. The industry has consolidated meaningfully in the last decade due to RERA and the previous down-cycle, and the survivors should do well now.

This year we have seen a correction in this sector, and valuations have come to a more reasonable level. Also, we have seen rate cuts this year, which should help boost demand, especially in the value segment.

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.

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Daily Voice: Avinash Agarwal explains why real estate sector can be a good contra bet for 2026

Avinash Agarwal, senior vice president &amp;amp; head – Equity at Bandhan Life, believes the real estate sector can be a good contra bet for 2026.

&quot;This year (2025) we saw a correction in this sector, and valuations have come to a more reasonable level. We also witnessed rate cuts this year, which should help boost demand, especially in the value segment,&quot; he said in an interview to Moneycontrol.

He believes 2026 will be much better for the mid and small-cap segment given that the earnings growth is expected to improve and the full benefit of rate cuts, GST reforms, and other announcements will flow into the economy.

Are you positive on the entire value chain within the capital markets space for 2026?

We are reasonably positive on the entire value chain of the capital market as it is an emerging sector. The financialization of the economy has been taking prominence in the last few years, and we believe there is still a long way to go. Also, most of these businesses are capital light and generate good ROEs for the investors.

Do you expect 2026 to be a significantly better year than 2025 for equity markets, given that most negative factors appear to be discounted and several others have turned favourable for India?

Yes, we believe 2026 will be better than 2025 given that we have seen relatively muted returns from the market. While the Nifty has given about 10% returns, some segments of mid- and small-caps have seen meaningful correction.

We believe 2026 will be much better for the mid and small-cap segment given that the earnings growth is expected to improve and the full benefit of rate cuts, GST reforms, and other announcements will flow into the economy.

Despite the prevailing market perception that midcaps are overvalued, we are launching a new midcap fund in early 2026. Our conviction is based on two key pillars. First, midcaps have historically been the market’s top-performing segment over the long term, making them an essential component for life insurance portfolios. Second, we believe high-growth midcap companies should be evaluated using the Price/Earnings-to-Growth (PEG) ratio rather than a standard P/E multiple. On a PEG basis, midcaps are currently trading at attractive levels relative to large caps.

For 2026, do you prefer domestic economy–focused sectors over export-oriented sectors?

We believe that the domestic economy will be far more resilient compared to the global economy in the near future. The global economy is facing some challenges, in the form of conflicts, slower growth, currency challenges and fear of overspending on AI.

The domestic economy, on the other hand, is growing at a steady pace, boosted by favourable demographics, government reforms, lower interest rates, and clean balance sheets of the banks and companies. In this context, the mid caps are a better proxy for the India growth story.

Are you avoiding the IT services sector even in 2026, considering the possibility of a weakening US economy?

The IT sector has faced several challenges over the past 2–3 years, with AI being the biggest one at present. The companies need to adapt to this change. We have seen the Indian IT players adapt to technological changes in the past and continue to grow.

We believe the companies would be able to do it again. Some of these challenges have been factored into the valuations already. For 2026 we have a neutral view on the sector.

Do you expect any announcement related to an India–US trade deal from Trump in the next couple of weeks? Would such an announcement have more of a sentiment-driven impact rather than a fundamental one?

It is very difficult to give a timeline on the signing of any deal given the number of complexities involved. However, we believe that a deal would certainly be positive, as the US is a large export market for Indian companies. Some labour-intensive sectors such as gems and jewellery and textiles are dependent on exports to the US. Hence, if a deal is announced, it would certainly have a positive fundamental impact on the businesses and economy.

What is your contrarian (contra) bet for 2026?

We feel the real estate sector can be a good contra bet for 2026. The sector started its revival post-covid where we saw both price and volume recovery. While the price increases have slowed now, we continue to see decent volume growth. The industry has consolidated meaningfully in the last decade due to RERA and the previous down-cycle, and the survivors should do well now.

This year we have seen a correction in this sector, and valuations have come to a more reasonable level. Also, we have seen rate cuts this year, which should help boost demand, especially in the value segment.

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.

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on December 25 on account of Christmas holiday.

Trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives will remain shut for the day.

The commodity derivatives segment will also remain closed for morning and evening sessions.

Trading on the NSE and the BSE will resume on December 26 (Friday).

On December 24, the Indian equity indices ended with marginal losses, following a volatile trading session marked by muted volumes ahead of the Christmas holiday.

At close, the Sensex was down 116.14 points or 0.14 percent at 85,408.70, and the Nifty was down 35.05 points or 0.13 percent at 26,142.10.

Trent, Shriram Finance, Apollo Hospitals, UltraTech Cement, Adani Ports were among major gainers on the Nifty, while losers were Interglobe Aviation, Wipro, Dr Reddy's Labs, Sun Pharma, Tata Motors Passenger Vehicles.

Except media and metal, all other sectoral indices ended in the red with Information Technology, Oil &amp; Gas, Pharma, PSU Bank down 0.4% each.

"Nifty continued with choppy movement with weak bias on Wednesday ahead of holiday in Indian and global markets due to Christmas and closed the day lower by 35 points amidst range movement. After opening on a positive note, the market failed to continue with upside momentum in the early to mid-part of the session. Gradual weakness was seen with range bound action in the mid to later part of the session and Nifty finally closed lower," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

"A small negative candle was formed on the daily chart with long upper shadow. Technically, the market action of the last two sessions signal breather in the market after a stellar rise from the lows, which could be an uptrend continuation pattern."

"The present lackluster movement in the market could be short lived and Nifty could bounce back sharply from the lows in the near term. Immediate support is placed at 26000 levels and the upside resistance to be watched around 26300," Shetti added.

Indian rupee ended lower at 89.78 per dollar on Wednesday versus Tuesday's close of 89.66.

"Following two days of muted close, the Indian rupee retreated, lagging behind its Asian peers on Wednesday. This decline was driven by a shift toward risk aversion, fueled by persistent capital withdrawals from foreign investors leading up to the holiday break, alongside heightened greenback demand from bullion importers," said Dilip Parmar – Senior Research Analyst, HDFC Securities.

"Despite the central bank’s announcement of USDINR swaps and Open Market Operations (OMO), the measures failed to ignite market enthusiasm as they did little to bridge the widening gap between dollar supply and demand ahead of year end."

"The outlook for spot USDINR maintains an upward trajectory provided it holds above the 89.00 mark; however, the 90.30 level continues to act as a formidable resistance for further gains," he added.

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.

Stock market holiday today: BSE, NSE to remain shut for Christmas

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on December 25 on account of Christmas holiday.

Trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives will remain shut for the day.

The commodity derivatives segment will also remain closed for morning and evening sessions.

Trading on the NSE and the BSE will resume on December 26 (Friday).

On December 24, the Indian equity indices ended with marginal losses, following a volatile trading session marked by muted volumes ahead of the Christmas holiday.

At close, the Sensex was down 116.14 points or 0.14 percent at 85,408.70, and the Nifty was down 35.05 points or 0.13 percent at 26,142.10.

Trent, Shriram Finance, Apollo Hospitals, UltraTech Cement, Adani Ports were among major gainers on the Nifty, while losers were Interglobe Aviation, Wipro, Dr Reddy's Labs, Sun Pharma, Tata Motors Passenger Vehicles.

Except media and metal, all other sectoral indices ended in the red with Information Technology, Oil &amp;amp; Gas, Pharma, PSU Bank down 0.4% each.

&quot;Nifty continued with choppy movement with weak bias on Wednesday ahead of holiday in Indian and global markets due to Christmas and closed the day lower by 35 points amidst range movement. After opening on a positive note, the market failed to continue with upside momentum in the early to mid-part of the session. Gradual weakness was seen with range bound action in the mid to later part of the session and Nifty finally closed lower,&quot; said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

&quot;A small negative candle was formed on the daily chart with long upper shadow. Technically, the market action of the last two sessions signal breather in the market after a stellar rise from the lows, which could be an uptrend continuation pattern.&quot;

&quot;The present lackluster movement in the market could be short lived and Nifty could bounce back sharply from the lows in the near term. Immediate support is placed at 26000 levels and the upside resistance to be watched around 26300,&quot; Shetti added.

Indian rupee ended lower at 89.78 per dollar on Wednesday versus Tuesday's close of 89.66.

&quot;Following two days of muted close, the Indian rupee retreated, lagging behind its Asian peers on Wednesday. This decline was driven by a shift toward risk aversion, fueled by persistent capital withdrawals from foreign investors leading up to the holiday break, alongside heightened greenback demand from bullion importers,&quot; said Dilip Parmar – Senior Research Analyst, HDFC Securities.

&quot;Despite the central bank’s announcement of USDINR swaps and Open Market Operations (OMO), the measures failed to ignite market enthusiasm as they did little to bridge the widening gap between dollar supply and demand ahead of year end.&quot;

&quot;The outlook for spot USDINR maintains an upward trajectory provided it holds above the 89.00 mark; however, the 90.30 level continues to act as a formidable resistance for further gains,&quot; he added.

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.

IndiGo shares fell over 2 percent after NOCs cleared for two new airlines, Al Hind Air and FlyExpress received government NOCs to begin operations, IndiGo holds over 60% market share; competition scrutiny underway

* IndiGo shares fell over 2 percent after NOCs cleared for two new airlines
* Al Hind Air and FlyExpress received government NOCs to begin operations
* IndiGo holds over 60% market share; competition scrutiny underway

IndiGo shares fell over 2% after the government granted no objection certificates to new airlines Al Hind Air and FlyExpress, increasing competition in India's aviation market where IndiGo holds over 60% share. The stock hit a four-session low.

shorts/business/indigo-shares-fall-2-after-govt-grants-nocs-to-two-new-airlines

The Indian equity indices ended with marginal losses on December 24, following a volatile trading session marked by muted volumes ahead of the Christmas holiday. At close, the Sensex was down 116.14 points or 0.14 percent at 85,408.70, and the Nifty was down 35.05 points or 0.13 percent at 26,142.10.

The market will remain shut on Thursday, December 25 on account of Christmas.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/unlisted-stocks-see-sharp-falls-in-msei-apollo-green-ncdex-goodluck-defence-gain-in-2025-13740261.html">Unlisted stocks see sharp falls in MSEI, Apollo Green; NCDEX, Goodluck Defence gain in 2025</a>

Trent, Shriram Finance, Apollo Hospitals, UltraTech Cement, Adani Ports were among major gainers on the Nifty, while losers were Interglobe Aviation, Wipro, Dr Reddy's Labs, Sun Pharma, Tata Motors Passenger Vehicles.

Except media and metal, all other sectoral indices ended in the red with Information Technology, Oil &amp; Gas, Pharma, PSU Bank down 0.4% each.

The BSE midcap index was down 0.3 percent and smallcap index ended flat.

In stock-specific action, Oswal Pumps rose 3 percent on order win of Rs 180 crore, Coal India shares gain on gives in-principle approval to list South Eastern Coalfields and Mahanadi Coalfields, VIP Industries shares added 9.5% post 36.8 million shares change hands in a block trade, Rail Vikas Nigam added 1% on appointing Saleem Ahmad as CMD, Monte Carlo Fashions shares shed 3% despite getting multiple LOAs from Madhya Pradesh Urja Vikas Nigam.

Also Read - <a href="https://www.moneycontrol.com/news/business/tier-2-india-s-ultra-rich-chase-double-digit-returns-lag-metros-on-succession-planning-nuvama-s-alok-saigal-explains-the-divergence-13739540.html">Tier-2 India’s ultra-rich chase double-digit returns, lag metros on succession planning: Nuvama’s Alok Saigal explains the divergence</a>

More than 100 stocks hit 52-week high, including Hindustan Copper, Manappuram Finance, IIFL Finance, City Union Bank, Hindustan Zinc, Vedanta, Can Fin Home, NALCO, Shriram Finance, Laurus Labs, AIA Engineering, Phoenix Mills, Eicher Motors, Hindalco, Vodafone Idea, MCX India, NMDC, Muthoot Finance, Granules India, Bharat Forge, 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 26

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty faced strong resistance in the 26,230–26,235 zone, which coincides with the previous session’s high area and gradually drifted lower as the day progressed to close at 26,142 down 0.13%. For the second consecutive session, the index failed to register a decisive close above this resistance zone. On the daily chart, Nifty formed a small-bodied candle with pronounced upper wicks, highlighting persistent selling pressure at higher levels and an inability to sustain the upside momentum.

Going ahead, for Nifty, 26,200-26,250 will act as important resistance. Any sustained move above the 26,250 level could lead to continuation of an up move towards the 26,350 level, followed by 26,500. On the downside, the 20-day EMA zone of 26,050-26,000 will act as an immediate support for the index.

Since breaking below its upward-sloping trendline on 17th December, Bank Nifty has continued to trade beneath this key resistance. Despite multiple intraday attempts to reclaim the trendline and settle higher, the index has consistently failed to do so. Over the last five trading sessions, Bank Nifty has formed candles with noticeable upper wicks, indicating supply emerging at higher levels. A meaningful directional move is unlikely unless the index delivers a strong and decisive close above the trendline.

Going ahead, 59,000-58,900 will act as an immediate support for the index. Any sustainable move below the 58,900 level can lead Index moving down till 58,600 followed by 58,300 level in the short term. While on the upside, the zone of 59,500-59,600 will act as a strong resistance for the index.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates

The Nifty index began the day on a flat note, witnessed range-bound consolidation, and eventually settled on a negative note at 26,142. Technically, on the daily chart, Nifty formed a shooting star candle, reflecting selling pressure at higher levels. The next major hurdle for the index is placed in the 26,250–26,325 zone, while immediate support is seen near the 26,050 level, followed by 25,990, where the bullish gap support is placed. Thus, the index is likely to consolidate in the 25,990–26,325 band in the short term, and traders are advised to maintain a stock-specific approach.

The Bank Nifty index opened on a flat note, witnessed selling pressure, and settled on a negative note at 59,184. Technically, on the daily chart, the Bank Nifty index has formed a red candle with a long upper shadow, reflecting selling pressure at higher levels. On the downside, the index has formed a good base around 58,800, while major resistance is placed near the 59,550 level. An eventual breakout on either side of this consolidation range is likely to set up the next directional move for the index.

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: Sensex, Nifty down marginally amid volatility; FMCG, PSU Bank, pharma drag

The Indian equity indices ended with marginal losses on December 24, following a volatile trading session marked by muted volumes ahead of the Christmas holiday. At close, the Sensex was down 116.14 points or 0.14 percent at 85,408.70, and the Nifty was down 35.05 points or 0.13 percent at 26,142.10.

The market will remain shut on Thursday, December 25 on account of Christmas.

Also Read: Unlisted stocks see sharp falls in MSEI, Apollo Green; NCDEX, Goodluck Defence gain in 2025

Trent, Shriram Finance, Apollo Hospitals, UltraTech Cement, Adani Ports were among major gainers on the Nifty, while losers were Interglobe Aviation, Wipro, Dr Reddy's Labs, Sun Pharma, Tata Motors Passenger Vehicles.

Except media and metal, all other sectoral indices ended in the red with Information Technology, Oil &amp;amp; Gas, Pharma, PSU Bank down 0.4% each.

The BSE midcap index was down 0.3 percent and smallcap index ended flat.

In stock-specific action, Oswal Pumps rose 3 percent on order win of Rs 180 crore, Coal India shares gain on gives in-principle approval to list South Eastern Coalfields and Mahanadi Coalfields, VIP Industries shares added 9.5% post 36.8 million shares change hands in a block trade, Rail Vikas Nigam added 1% on appointing Saleem Ahmad as CMD, Monte Carlo Fashions shares shed 3% despite getting multiple LOAs from Madhya Pradesh Urja Vikas Nigam.

Also Read - Tier-2 India’s ultra-rich chase double-digit returns, lag metros on succession planning: Nuvama’s Alok Saigal explains the divergence

More than 100 stocks hit 52-week high, including Hindustan Copper, Manappuram Finance, IIFL Finance, City Union Bank, Hindustan Zinc, Vedanta, Can Fin Home, NALCO, Shriram Finance, Laurus Labs, AIA Engineering, Phoenix Mills, Eicher Motors, Hindalco, Vodafone Idea, MCX India, NMDC, Muthoot Finance, Granules India, Bharat Forge, among others. Click to View More

Outlook for December 26

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty faced strong resistance in the 26,230–26,235 zone, which coincides with the previous session’s high area and gradually drifted lower as the day progressed to close at 26,142 down 0.13%. For the second consecutive session, the index failed to register a decisive close above this resistance zone. On the daily chart, Nifty formed a small-bodied candle with pronounced upper wicks, highlighting persistent selling pressure at higher levels and an inability to sustain the upside momentum.

Going ahead, for Nifty, 26,200-26,250 will act as important resistance. Any sustained move above the 26,250 level could lead to continuation of an up move towards the 26,350 level, followed by 26,500. On the downside, the 20-day EMA zone of 26,050-26,000 will act as an immediate support for the index.

Since breaking below its upward-sloping trendline on 17th December, Bank Nifty has continued to trade beneath this key resistance. Despite multiple intraday attempts to reclaim the trendline and settle higher, the index has consistently failed to do so. Over the last five trading sessions, Bank Nifty has formed candles with noticeable upper wicks, indicating supply emerging at higher levels. A meaningful directional move is unlikely unless the index delivers a strong and decisive close above the trendline.

Going ahead, 59,000-58,900 will act as an immediate support for the index. Any sustainable move below the 58,900 level can lead Index moving down till 58,600 followed by 58,300 level in the short term. While on the upside, the zone of 59,500-59,600 will act as a strong resistance for the index.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates

The Nifty index began the day on a flat note, witnessed range-bound consolidation, and eventually settled on a negative note at 26,142. Technically, on the daily chart, Nifty formed a shooting star candle, reflecting selling pressure at higher levels. The next major hurdle for the index is placed in the 26,250–26,325 zone, while immediate support is seen near the 26,050 level, followed by 25,990, where the bullish gap support is placed. Thus, the index is likely to consolidate in the 25,990–26,325 band in the short term, and traders are advised to maintain a stock-specific approach.

The Bank Nifty index opened on a flat note, witnessed selling pressure, and settled on a negative note at 59,184. Technically, on the daily chart, the Bank Nifty index has formed a red candle with a long upper shadow, reflecting selling pressure at higher levels. On the downside, the index has formed a good base around 58,800, while major resistance is placed near the 59,550 level. An eventual breakout on either side of this consolidation range is likely to set up the next directional move for the index.

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.

Live: Nifty directionless on Christmas eve, slips below 26,150 | Closing Bell

Sensex and Nifty ended lower amid profit-booking and FII selling, IT stocks fell after US changed H-1B visa rules, impacting sector sentiment, Nifty's 26100 level acted as support, with sideways bias expected for trades

* Sensex and Nifty ended lower amid profit-booking and FII selling
* IT stocks fell after US changed H-1B visa rules, impacting sector sentiment
* Nifty's 26100 level acted as support, with sideways bias expected for trades

Sensex and Nifty closed 0.14% lower amid profit-booking in IT, pharma, and oil & gas stocks, and continued FII selling. IT shares fell after US H-1B visa changes. Nifty’s 26,100 level remains key support, with sideways movement expected.

shorts/business/sensex-falls-200-pts-from-day-s-high-nifty-below-26-200-3-key-reasons-behind-market-decline

* Sensex and Nifty ended lower amid profit-booking and FII selling
* IT stocks fell after US changed H-1B visa rules, impacting sector sentiment
* Nifty's 26100 level acted as support, with sideways bias expected for trades

The benchmark equity indices Sensex and Nifty slipped from their intraday highs on Wednesday amid profit-booking in select sectors and continued selling by foreign institutional investors (FIIs).

The Sensex dropped by 116.14 points or 0.14 percent to settle at 85,408.70. During the day, it hit a high of 85,738.18 and a low of 85,342.19. The Nifty edged lower by 35.05 points or 0.13 percent to 26,142.10.

Key factors behind the market decline

1) FII selling: Foreign institutional investors offloaded equities worth Rs 1,794.80 crore on Tuesday, according to exchange data. This was the second straight day of selling after FIIs had turned buyers for three consecutive sessions.

2) Profit-booking in select sectors: Profit-taking was seen in IT, pharma and oil and gas stocks. <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/sunpharmaceuticalindustries/SPI">Sun Pharmaceutical Industries</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/drreddyslaboratories/DRL">Dr Reddy's Laboratories</a> were among the major laggards, falling up to 1 percent.
<h3><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-start-us-asian-markets-advance-liveblog-13740193.html" target="_blank">Stock Market LIVE Updates</a></h3>
3) Weakness in IT stocks: Shares of IT companies declined after the US administration announced changes to the H-1B work visa system. Under the new framework, visas will no longer be allocated purely through a lottery. Instead, applications will be weighted to prioritise higher-paid and more skilled foreign workers, the US Department of Homeland Security said.

This marked the second consecutive session of decline for IT stocks after they had risen for four straight sessions.
<h3><a href="https://www.moneycontrol.com/news/business/markets/coforge-tech-mahindra-other-it-shares-fall-up-to-1-as-us-scraps-h-1b-lottery-13740615.html" target="_blank">Coforge, Tech Mahindra, other IT shares fall up to 1% as US scraps H-1B lottery</a></h3>
<h3>Technical view</h3>
Anand James, Chief Market Strategist at Geojit Investments Ltd, said the 26,100 level continued to act as a support for the Nifty.

"The 26,100 region pencilled in as the downside marker remained intact yesterday, providing a launch pad for yet another swing higher. Towards this end, 26,300-26,100 will be the starting range for the day with expectations of large moves on break of either extremity. Meanwhile, yesterday's doji lends a sideways bias for initial trades today," James 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 300 pts lower from day’s high, Nifty ends below 26,150: 3 key reasons behind market decline

The benchmark equity indices Sensex and Nifty slipped from their intraday highs on Wednesday amid profit-booking in select sectors and continued selling by foreign institutional investors (FIIs).

The Sensex dropped by 116.14 points or 0.14 percent to settle at 85,408.70. During the day, it hit a high of 85,738.18 and a low of 85,342.19. The Nifty edged lower by 35.05 points or 0.13 percent to 26,142.10.

Key factors behind the market decline

1) FII selling: Foreign institutional investors offloaded equities worth Rs 1,794.80 crore on Tuesday, according to exchange data. This was the second straight day of selling after FIIs had turned buyers for three consecutive sessions.

2) Profit-booking in select sectors: Profit-taking was seen in IT, pharma and oil and gas stocks. Sun Pharmaceutical Industries and Dr Reddy's Laboratories were among the major laggards, falling up to 1 percent.
Stock Market LIVE Updates
3) Weakness in IT stocks: Shares of IT companies declined after the US administration announced changes to the H-1B work visa system. Under the new framework, visas will no longer be allocated purely through a lottery. Instead, applications will be weighted to prioritise higher-paid and more skilled foreign workers, the US Department of Homeland Security said.

This marked the second consecutive session of decline for IT stocks after they had risen for four straight sessions.
Coforge, Tech Mahindra, other IT shares fall up to 1% as US scraps H-1B lottery
Technical view
Anand James, Chief Market Strategist at Geojit Investments Ltd, said the 26,100 level continued to act as a support for the Nifty.

&quot;The 26,100 region pencilled in as the downside marker remained intact yesterday, providing a launch pad for yet another swing higher. Towards this end, 26,300-26,100 will be the starting range for the day with expectations of large moves on break of either extremity. Meanwhile, yesterday's doji lends a sideways bias for initial trades today,&quot; James 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.

9 out of 14 years BSE SME IPO has given positive returns in December.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	98,041.86	98,562.82	98,882.26	97,722.42	97,201.46	96,882.02	96,361.06
Fibonacci	98,043.45	98,241.79	98,562.82	97,722.42	97,401.39	97,203.05	96,882.02
Camarilla	97,597.94	97,674.97	97,752.01	97,722.42	97,443.86	97,366.83	97,289.79

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