NIFTY Infra

Brokerages expect Sensex and Nifty to rise 11-26 percent by end-2026, Indian equities upgraded to 'Overweight' by HSBC and Goldman Sachs, Market rebound driven by macro tailwinds, policy easing, and earnings recovery

* Brokerages expect Sensex and Nifty to rise 11-26 percent by end-2026
* Indian equities upgraded to 'Overweight' by HSBC and Goldman Sachs
* Market rebound driven by macro tailwinds, policy easing, and earnings recovery

Global and domestic brokerages project Indian benchmark indices to rise in 2026 after muted 2025 returns, with Sensex targets up to 1,07,000 and Nifty up to 32,032 in bull cases, citing macro recovery, policy easing, and improved earnings outlook.

shorts/business/nifty-at-32-000-sensex-at-1-07-000-here-are-brokerages-bull-case-targets-for-2026-end

* Brokerages expect Sensex and Nifty to rise 11-26 percent by end-2026
* Indian equities upgraded to 'Overweight' by HSBC and Goldman Sachs
* Market rebound driven by macro tailwinds, policy easing, and earnings recovery

After delivering muted returns in 2025, investors are looking hopefully towards Indian stock markets in 2026. Here’s a consolidated list of what global and domestic brokerages expect for the Indian benchmark indices next year.

The benchmark indices recorded sharp losses earlier this year, triggered by Donald Trump's tariffs, erasing the previous year's gains during the first half.

Later, towards the end of the year, Sensex and Nifty soared to fresh lifetime highs, breaking previous year's records. The indices took around 14 months to return back to the levels seen during the previous year.

Sensex has gained more than 6,000 points (or 8 percent), while Nifty rose over 2,000 points (or 9 percent) in 2025 so far. Are the Indian benchmark indices heading towards a breakout or another year of consolidation in 2026?
<h3><strong>Morgan Stanley:</strong></h3>
Indian equities may be poised for their <a href="https://www.moneycontrol.com/news/business/markets/sensex-target-107-000-by-2026-says-morgan-stanley-indian-markets-set-to-regain-mojo-for-multi-year-rebound-13682706.html" target="_blank">strongest phase in years</a>, with Morgan Stanley projecting that Sensex could climb to 1,07,000 by December 2026 in its bull case, implying a rise of 26 percent from December 30's closing level of 84,675.08.

As part of its base case, Morgan Stanley sees Sensex rising over 12 percent to 95,000 by December 2026.

The global brokerage said that after India’s sharp underperformance in 2025, the market is positioned for a broad recovery driven by macro tailwinds, policy easing and a renewed earnings cycle.

India is set to "regain its mojo" in 2026, shifting from a stock-picking market to a macro-driven trade, it said in an investors’ note. Foreign investors’ positioning is "the lightest in history", relative valuations have normalised, and domestic fund flows remain structurally strong - a combination that offers the bedrock for a multi-year rebound in equities, Morgan Stanley added.

In its bear case however, Morgan Stanley sees Sensex falling 10 percent to 76,000 by end-2026.
<h3><strong>Nomura:</strong></h3>
Nomura has struck a <a href="https://www.moneycontrol.com/news/business/markets/nomura-sets-nifty-target-at-29-300-for-end-2026-asks-investors-to-stay-selective-as-valuations-cool-13705790.html" target="_blank">cautiously constructive tone</a> on Indian equities for 2026, projecting a Nifty target of 29,300 (nearly 13 percent rise from current level), supported by calmer geopolitics, resilient macro indicators and a cyclical earnings recovery. The brokerage said India’s valuation premium has now normalised after 14 months of underperformance versus global markets, offering a more reasonable entry point for long-term investors while laying the foundation for a broader rebound in equities.
<h3><strong>Goldman Sachs:</strong></h3>
Earlier last month, global investment bank <a href="https://www.moneycontrol.com/news/business/markets/goldman-sachs-upgrades-india-to-overweight-on-strong-earnings-macros-lists-favoured-sectors-leading-rebound-13663749.html" target="_blank">Goldman Sachs upgraded Indian equities to ‘Overweight’,</a> reversing its October 2024 downgrade after what it described as India’s worst relative underperformance in two decades. However, the reversal rests not merely on the prospect of catch-up after a year of heavy foreign outflows and earnings downgrades, but also on renewed macro-economic and corporate strength.

India, the laggard of emerging markets in 2025, is now likely to re-emerge as one of the most resilient growth stories, with Nifty 50 expected to rise around 12 percent to hit 29,000 by end-2026.
<h3><strong>Kotak Securities:</strong></h3>
After remaining range-bound in 2025, Kotak Securities sees <a href="https://www.moneycontrol.com/news/business/markets/kotak-sees-nifty-50-rising-24-to-32k-by-december-2026-in-bull-case-check-key-reasons-13721459.html" target="_blank">markets rising in 2026</a> as the earnings outlook has strengthened amid resolute government action. The domestic brokerage said that it expects Nifty 50 to rise 23.5 percent from current level to hit 32,032 by the end of the next year in its bull case.

In its base case, Kotak sees Nifty 50 rising over 12 percent to 29,120 in December 2026. However, as part of its bear case, the brokerage sees the index falling over 1 percent to 26,208.
<h3><strong>Axis Securities:</strong></h3>
Benchmark index Nifty 50 will <a href="https://www.moneycontrol.com/news/business/markets/axis-securities-expects-nifty-50-to-rise-up-to-13-to-hit-29-500-by-dec-2026-in-bull-case-check-key-triggers-13707178.html" target="_blank">likely rise over 8 percent to hit 28,100 in December 2026</a>, according to Axis Securities' base case for the equity benchmark. Its bull case expectation for the index is 29,500 (14 percent rise), while bear case estimate is 24,000 (7 percent fall).

"In the coming weeks, the market will closely monitor developments in the India-USA negotiations on tariffs, RBI monetary policy, US Fed meeting outcomes, and other high-frequency indicators," the brokerage said.
<h3><strong>Emkay Global Financial Services:</strong></h3>
Emkay Global Financial Services has projected the <a href="https://www.moneycontrol.com/news/business/markets/emkay-sets-nifty-target-at-29-000-by-dec-2026-on-demand-revival-rbi-s-liquidity-infusion-likely-india-us-trade-deal-13721701.html" target="_blank">Nifty to rise around 12 percent to 29,000 by December 2026</a>, citing a likely pick-up in discretionary consumption, liquidity support from the Reserve Bank of India and expectations of an India-US trade agreement.

Emkay has maintained an Overweight stance on Discretionary, Industrials, Healthcare and Materials for 2026, pointing to improving demand indicators and steady earnings visibility. It said discretionary consumption remains its strongest theme, supported by GST-led price cuts, firmer urban demand and early signs of improvement in hiring.

The brokerage remains Underweight on Financials, Staples, IT and Telecom. It noted that large banks continue to face valuation pressures amid rising competition from PSU lenders and NBFCs. The IT sector, while more reasonably valued, is expected to see a sustained recovery only by CY26 as global technology spending stabilises.
<h3><strong>HSBC:</strong></h3>
Global investment bank HSBC on September 24 upgraded Indian equities to "overweight" from "neutral", and said the shares are looking attractive on a regional basis after recent underperformance.

HSBC said it expects <a href="https://www.moneycontrol.com/news/business/markets/hsbc-upgrades-indian-equities-to-overweight-pegs-sensex-to-rise-15-to-94-000-by-2026-end-13573292.html" target="_blank">Sensex to rise around 11 percent to 94,000 by end of 2026</a>. The upgrade came eight months after it had downgraded Indian equities in January citing slowdown in growth amidst high valuations, which limited the upside potential.

<em>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.</em>

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Nifty at 32,000, Sensex at 1,07,000: Here are brokerages' bull case targets for 2026-end

After delivering muted returns in 2025, investors are looking hopefully towards Indian stock markets in 2026. Here’s a consolidated list of what global and domestic brokerages expect for the Indian benchmark indices next year.

The benchmark indices recorded sharp losses earlier this year, triggered by Donald Trump's tariffs, erasing the previous year's gains during the first half.

Later, towards the end of the year, Sensex and Nifty soared to fresh lifetime highs, breaking previous year's records. The indices took around 14 months to return back to the levels seen during the previous year.

Sensex has gained more than 6,000 points (or 8 percent), while Nifty rose over 2,000 points (or 9 percent) in 2025 so far. Are the Indian benchmark indices heading towards a breakout or another year of consolidation in 2026?
Morgan Stanley:
Indian equities may be poised for their strongest phase in years, with Morgan Stanley projecting that Sensex could climb to 1,07,000 by December 2026 in its bull case, implying a rise of 26 percent from December 30's closing level of 84,675.08.

As part of its base case, Morgan Stanley sees Sensex rising over 12 percent to 95,000 by December 2026.

The global brokerage said that after India’s sharp underperformance in 2025, the market is positioned for a broad recovery driven by macro tailwinds, policy easing and a renewed earnings cycle.

India is set to &quot;regain its mojo&quot; in 2026, shifting from a stock-picking market to a macro-driven trade, it said in an investors’ note. Foreign investors’ positioning is &quot;the lightest in history&quot;, relative valuations have normalised, and domestic fund flows remain structurally strong - a combination that offers the bedrock for a multi-year rebound in equities, Morgan Stanley added.

In its bear case however, Morgan Stanley sees Sensex falling 10 percent to 76,000 by end-2026.
Nomura:
Nomura has struck a cautiously constructive tone on Indian equities for 2026, projecting a Nifty target of 29,300 (nearly 13 percent rise from current level), supported by calmer geopolitics, resilient macro indicators and a cyclical earnings recovery. The brokerage said India’s valuation premium has now normalised after 14 months of underperformance versus global markets, offering a more reasonable entry point for long-term investors while laying the foundation for a broader rebound in equities.
Goldman Sachs:
Earlier last month, global investment bank Goldman Sachs upgraded Indian equities to ‘Overweight’, reversing its October 2024 downgrade after what it described as India’s worst relative underperformance in two decades. However, the reversal rests not merely on the prospect of catch-up after a year of heavy foreign outflows and earnings downgrades, but also on renewed macro-economic and corporate strength.

India, the laggard of emerging markets in 2025, is now likely to re-emerge as one of the most resilient growth stories, with Nifty 50 expected to rise around 12 percent to hit 29,000 by end-2026.
Kotak Securities:
After remaining range-bound in 2025, Kotak Securities sees markets rising in 2026 as the earnings outlook has strengthened amid resolute government action. The domestic brokerage said that it expects Nifty 50 to rise 23.5 percent from current level to hit 32,032 by the end of the next year in its bull case.

In its base case, Kotak sees Nifty 50 rising over 12 percent to 29,120 in December 2026. However, as part of its bear case, the brokerage sees the index falling over 1 percent to 26,208.
Axis Securities:
Benchmark index Nifty 50 will likely rise over 8 percent to hit 28,100 in December 2026, according to Axis Securities' base case for the equity benchmark. Its bull case expectation for the index is 29,500 (14 percent rise), while bear case estimate is 24,000 (7 percent fall).

&quot;In the coming weeks, the market will closely monitor developments in the India-USA negotiations on tariffs, RBI monetary policy, US Fed meeting outcomes, and other high-frequency indicators,&quot; the brokerage said.
Emkay Global Financial Services:
Emkay Global Financial Services has projected the Nifty to rise around 12 percent to 29,000 by December 2026, citing a likely pick-up in discretionary consumption, liquidity support from the Reserve Bank of India and expectations of an India-US trade agreement.

Emkay has maintained an Overweight stance on Discretionary, Industrials, Healthcare and Materials for 2026, pointing to improving demand indicators and steady earnings visibility. It said discretionary consumption remains its strongest theme, supported by GST-led price cuts, firmer urban demand and early signs of improvement in hiring.

The brokerage remains Underweight on Financials, Staples, IT and Telecom. It noted that large banks continue to face valuation pressures amid rising competition from PSU lenders and NBFCs. The IT sector, while more reasonably valued, is expected to see a sustained recovery only by CY26 as global technology spending stabilises.
HSBC:
Global investment bank HSBC on September 24 upgraded Indian equities to &quot;overweight&quot; from &quot;neutral&quot;, and said the shares are looking attractive on a regional basis after recent underperformance.

HSBC said it expects Sensex to rise around 11 percent to 94,000 by end of 2026. The upgrade came eight months after it had downgraded Indian equities in January citing slowdown in growth amidst high valuations, which limited the upside potential.

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.

Generally, the appearance of Doji pattern after weakness and near a support level signals the possibility of a bullish comeback, and a higher-bottom formation could be on the cards. However, this would require confirmation in the following session.

shorts/business/technical-view-doji-formation-after-weakness-signals-possible-comeback-for-nifty-bulls-bank-nifty-snaps-3-day-losing-streak

The Nifty 50 showed a healthy recovery in the afternoon session and closed flat amid volatility on December 30, the monthly F&amp;O expiry session. The index continued its downtrend for the fourth consecutive session and remained below short-term moving averages (10- and 20-day EMAs, and the 200-day SMA). However, it took support at the upward-sloping support trendline and recouped losses to form a Doji-like candlestick pattern on the daily charts, indicating indecision between bulls and bears.

Generally, the appearance of such a pattern after weakness and near a support level signals the possibility of a bullish comeback, and a higher-bottom formation could be on the cards. However, this would require confirmation in the following session. The 26,000–26,100 zone is expected to act as a hurdle on the upside, while support is placed in the 25,850–25,800 range, according to experts.

After opening flat, the Nifty 50 attempted to move toward the 26,000 level but lost momentum in morning trade and hit an intraday low of 25,878. The index recovered its losses in the afternoon session and again marched toward the 26,000 zone. It touched a day’s high of 25,977 in late trade before closing 3.25 points lower at 25,939.

“The bulls are attempting a comeback after the recent weakness. Confirmation in the form of a sustainable upward move on Wednesday could validate a higher-bottom reversal pattern and also open up a bounce-back in the market,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, immediate support is placed around the 25,850–25,800 levels, while the next overhead resistance is seen at 26,100.

Weekly options data suggested that the 26,000 level is expected to be a key zone for a strong directional move. Immediate support is placed at 25,900, while the 26,100–26,300 zone could act as a resistance area.

The maximum Call open interest was seen at the 26,000 strike, followed by 26,300 and 26,200, with the maximum Call writing at the 26,000, 26,300 and 26,200 strikes. Meanwhile, the 26,000 strike held the maximum Put open interest, followed by the 25,900 and 25,600 strikes, with the maximum Put writing at the 25,900, 26,000 and 25,600 strikes.

<strong>Bank Nifty</strong>

The Bank Nifty outperformed the benchmark Nifty 50, rising 239 points to close at 59,171 on above-average volumes, snapping a four-day losing streak after taking support at a rising support trendline. The banking index climbed above short-term moving averages but failed to sustain above the midline of the Bollinger Bands on a closing basis.

The RSI, at 53.25, is on the verge of a bullish crossover, while the Stochastic RSI turned slightly positive. The MACD remained below the reference line, though weakness in the histogram faded somewhat.

On the daily chart, the index formed a bullish engulfing-type candlestick pattern (not a classical one) after weakness, reflecting underlying strength.

“On the upside, major resistance is placed near the 59,550 level, while the support base lies in the 58,700–58,800 zone,” said Hrishikesh Yedve, AVP – Technical and Derivative Research at Asit C Mehta Investment Intermediates.

As long as the Bank Nifty holds above 58,700, short-term traders are advised to continue with a ‘buy-on-dips’ strategy, he added.

Meanwhile, the India VIX fell 0.44 percent to 9.68 and remained near the lower zone as well as below key moving averages, providing comfort to bulls.

<em>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.</em>

Technical View: Doji formation after weakness signals possible comeback for Nifty bulls; Bank Nifty snaps 3-day losing streak

The Nifty 50 showed a healthy recovery in the afternoon session and closed flat amid volatility on December 30, the monthly F&amp;amp;O expiry session. The index continued its downtrend for the fourth consecutive session and remained below short-term moving averages (10- and 20-day EMAs, and the 200-day SMA). However, it took support at the upward-sloping support trendline and recouped losses to form a Doji-like candlestick pattern on the daily charts, indicating indecision between bulls and bears.

Generally, the appearance of such a pattern after weakness and near a support level signals the possibility of a bullish comeback, and a higher-bottom formation could be on the cards. However, this would require confirmation in the following session. The 26,000–26,100 zone is expected to act as a hurdle on the upside, while support is placed in the 25,850–25,800 range, according to experts.

After opening flat, the Nifty 50 attempted to move toward the 26,000 level but lost momentum in morning trade and hit an intraday low of 25,878. The index recovered its losses in the afternoon session and again marched toward the 26,000 zone. It touched a day’s high of 25,977 in late trade before closing 3.25 points lower at 25,939.

“The bulls are attempting a comeback after the recent weakness. Confirmation in the form of a sustainable upward move on Wednesday could validate a higher-bottom reversal pattern and also open up a bounce-back in the market,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, immediate support is placed around the 25,850–25,800 levels, while the next overhead resistance is seen at 26,100.

Weekly options data suggested that the 26,000 level is expected to be a key zone for a strong directional move. Immediate support is placed at 25,900, while the 26,100–26,300 zone could act as a resistance area.

The maximum Call open interest was seen at the 26,000 strike, followed by 26,300 and 26,200, with the maximum Call writing at the 26,000, 26,300 and 26,200 strikes. Meanwhile, the 26,000 strike held the maximum Put open interest, followed by the 25,900 and 25,600 strikes, with the maximum Put writing at the 25,900, 26,000 and 25,600 strikes.

Bank Nifty

The Bank Nifty outperformed the benchmark Nifty 50, rising 239 points to close at 59,171 on above-average volumes, snapping a four-day losing streak after taking support at a rising support trendline. The banking index climbed above short-term moving averages but failed to sustain above the midline of the Bollinger Bands on a closing basis.

The RSI, at 53.25, is on the verge of a bullish crossover, while the Stochastic RSI turned slightly positive. The MACD remained below the reference line, though weakness in the histogram faded somewhat.

On the daily chart, the index formed a bullish engulfing-type candlestick pattern (not a classical one) after weakness, reflecting underlying strength.

“On the upside, major resistance is placed near the 59,550 level, while the support base lies in the 58,700–58,800 zone,” said Hrishikesh Yedve, AVP – Technical and Derivative Research at Asit C Mehta Investment Intermediates.

As long as the Bank Nifty holds above 58,700, short-term traders are advised to continue with a ‘buy-on-dips’ strategy, he added.

Meanwhile, the India VIX fell 0.44 percent to 9.68 and remained near the lower zone as well as below key moving averages, providing comfort to bulls.

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 and Nifty ended marginally lower amid cautious trading and thin volumes, Auto, metal, and PSU Bank indices gained; most other sectors closed lower, Over 100 stocks hit 52-week highs, nearly 200 touched 52-week lows

* Sensex and Nifty ended marginally lower amid cautious trading and thin volumes
* Auto, metal, and PSU Bank indices gained; most other sectors closed lower
* Over 100 stocks hit 52-week highs, nearly 200 touched 52-week lows

On December 30, Indian equity indices closed slightly lower amid cautious trading ahead of the Fed minutes, FII selling, and low year-end volumes. Auto, metal, and PSU banks gained, while most other sectors fell. Over 100 stocks hit 52-week highs.

shorts/business/taking-stock-sensex-nifty-end-marginally-lower-amid-expiry-it-drags-psu-banks-gain

* Sensex and Nifty ended marginally lower amid cautious trading and thin volumes
* Auto, metal, and PSU Bank indices gained; most other sectors closed lower
* Over 100 stocks hit 52-week highs, nearly 200 touched 52-week lows

In yet another volatile session on December 30 (Nifty F&amp;O expiry day), the equity indices ended marginally lower as investors remained cautious ahead of release of Fed's December minutes report, FII selling with thin year-end volumes.

At close, the Sensex was down 20.46 points or 0.02 percent at 84,675.08, and the Nifty was down 3.25 points or 0.01 percent at 25,938.85. BSE Midcap and smallcap indices ended marginally lower.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/sebi-busts-research-analyst-who-was-actually-running-a-grocery-shop-13748814.html"><strong>SEBI busts ‘Research Analyst’ who was actually running a grocery shop</strong></a>

Shriram Finance, Tata Steel, Hindalco Industries, M&amp;M, Bajaj Auto were among major gainers on the Nifty, while losers included Max Healthcare, Eternal, Apollo Hospitals, Interglobe Aviation, Tata Consumer.

On the sectoral front, auto index rose 1 percent, metal index added 2 percent, PSU Bank gained nearly 2 percent, however, IT, realty, consumer durables, healthcare, defence down 0.5-1%.

Among sectors, except media, all other indices ended lower with auto, IT, pharma, realty, power down between 0.4-0.9 percent.

Also Read - <a href="https://www.moneycontrol.com/news/business/personal-finance/silver-races-ahead-of-gold-7-trends-investors-should-watch-in-2026-13747601.html"><strong>Silver races ahead of gold: 7 trends investors should watch in 2026</strong></a>

In stock-specific action, Concord Drugs shares added 3.4% on bagging order of Rs 14.71 crore, Shriram Finance shares gained 2% after receiving first credit rating upgrade post MUFG deal, Cupid shares added 4% on setting up new FMCG manufacturing facility in the Kingdom of Saudi Arabia, Bartronics India share price jumped 1% on signing long-term SLA to scale Maharashtra Gramin Bank’s rural banking network.

Timex Group India share price rose 3.4% as promoter to exercise oversubscription option in OFS, Orient Technologies shares jumped more than 20% on shareholders approval for bonus issue, Trishakti Industries shares rose 3.5% on order win from Reliance Industries, BL Kashyap share price added 1.5% on order win worth Rs 364 crore from ESPN Property Builders.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/reminder-for-f-o-traders-lot-sizes-of-nifty-bank-nifty-two-other-indices-change-from-tomorrow-13748207.html"><strong>Reminder for F&amp;O traders: Lot sizes of Nifty, Bank Nifty, two other NSE indices change from tomorrow</strong></a>

More than 100 stocks hit 52-week high, including Jindal Stainless, NALCO, AIA Engineering, Shriram Finance, UPL, Ashok Leyland, Canara Bank, Choice International, Laurus Labs, Maruti Suzuki, City Union Bank, PTC Industries, 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>

On the other hand, nearly 200 stocks touched their 52-week low, including Happiest Minds, Poly Medicure, Tata Chemicals, BASF, PCBL Chemical, Dixon Technologies, Vedant Fashions, Colgate Palmolive, Godrej Agrovet, ACC, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%20500&amp;id=12">Click to View More</a>

<strong>New Listing</strong>

Gujarat Kidney and Super Speciality shares price ended 9% lower after listed with premium of more than 5 percent over its initial public offer (IPO) price on the exchanges, following a 5.21 times subscription to the issue between December 22-24 in the primary market.

<strong>Outlook for December 31</strong>

<strong>Rupak De, Senior Technical Analyst at LKP Securities</strong>

The index has slipped to the upper band of the falling wedge pattern, where the correction appears to have been arrested. However, some negative technical factors may influence market sentiment in the coming days.

The index has fallen below the middle Bollinger Band, the RSI has entered a bearish crossover, and the Nifty has also slipped below the 21 EMA, reinforcing the short-term downtrend.

Immediate support is placed in the 25,850–25,870 zone. A decisive break below this level could intensify bearish sentiment, while resistance is placed at 26,000.

<strong>Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities</strong>

After showing weakness amidst choppy movement over the last three sessions, Nifty shifted into a minor volatility on the day of F&amp;O expiry of December series on Tuesday and closed the day slightly lower. After opening on a positive note, the market stood lower for better part of the session. Intraday upside recoveries of early and mid-part have failed to sustain and Nifty finally closed near the opening levels.

A small body candle has been formed on the daily chart with upper and lower shadow. Technically, this market action indicates a doji type candle formation at the uptrend line support. Normally, a doji indicates an indecision in the market and its formation after a reasonable decline or at the crucial support more often results in a formation of near-term bottom reversal after the confirmation.

The bulls are in an attempt to comeback after a weakness. A confirmation by the way of sustainable up move on Wednesday could confirm higher bottom reversal pattern and also open bounce back in the market. Immediate support is placed around 25850-25800 levels and the next overhead resistance to be watched at 26100.

<strong>Abhinav Tiwari Research Analyst at Bonanza</strong>

Today, the Indian stock markets ended the second-last trading day of 2025 almost unchanged. The Sensex slipped just 20 points to close at 84,675, while the Nifty 50 ended flat at 25,938. The reason for flat closing was also year end portfolio rebalancing, where global funds reduce risk and adjust holdings before the new year. In addition, quarterly changes in Nifty indices led to large stock specific flows.

ICICI Bank and HDFC Bank saw outflows due to index changes, while stocks like Maruti Suzuki, Eicher Motors, and Asian Paints attracted strong buying.

Sector wise, metals performed best, rising over 2% on higher copper and aluminum prices. Auto stocks also gained modestly. Realty stocks were the worst performers, falling nearly 1% due to interest rate concerns.

Broader markets remained cautious, showing selective buying. Overall, markets are in a wait and watch mode, and we are looking ahead to 2026 for clearer global
cues and earnings driven direction.

<strong>Disclaimer</strong>: 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 end marginally lower amid monthly F&O expiry; IT drags, PSU Banks gain

In yet another volatile session on December 30 (Nifty F&amp;amp;O expiry day), the equity indices ended marginally lower as investors remained cautious ahead of release of Fed's December minutes report, FII selling with thin year-end volumes.

At close, the Sensex was down 20.46 points or 0.02 percent at 84,675.08, and the Nifty was down 3.25 points or 0.01 percent at 25,938.85. BSE Midcap and smallcap indices ended marginally lower.

Also Read: SEBI busts ‘Research Analyst’ who was actually running a grocery shop

Shriram Finance, Tata Steel, Hindalco Industries, M&amp;amp;M, Bajaj Auto were among major gainers on the Nifty, while losers included Max Healthcare, Eternal, Apollo Hospitals, Interglobe Aviation, Tata Consumer.

On the sectoral front, auto index rose 1 percent, metal index added 2 percent, PSU Bank gained nearly 2 percent, however, IT, realty, consumer durables, healthcare, defence down 0.5-1%.

Among sectors, except media, all other indices ended lower with auto, IT, pharma, realty, power down between 0.4-0.9 percent.

Also Read - Silver races ahead of gold: 7 trends investors should watch in 2026

In stock-specific action, Concord Drugs shares added 3.4% on bagging order of Rs 14.71 crore, Shriram Finance shares gained 2% after receiving first credit rating upgrade post MUFG deal, Cupid shares added 4% on setting up new FMCG manufacturing facility in the Kingdom of Saudi Arabia, Bartronics India share price jumped 1% on signing long-term SLA to scale Maharashtra Gramin Bank’s rural banking network.

Timex Group India share price rose 3.4% as promoter to exercise oversubscription option in OFS, Orient Technologies shares jumped more than 20% on shareholders approval for bonus issue, Trishakti Industries shares rose 3.5% on order win from Reliance Industries, BL Kashyap share price added 1.5% on order win worth Rs 364 crore from ESPN Property Builders.

Also Read - Reminder for F&amp;amp;O traders: Lot sizes of Nifty, Bank Nifty, two other NSE indices change from tomorrow

More than 100 stocks hit 52-week high, including Jindal Stainless, NALCO, AIA Engineering, Shriram Finance, UPL, Ashok Leyland, Canara Bank, Choice International, Laurus Labs, Maruti Suzuki, City Union Bank, PTC Industries, among others. Click to View More

On the other hand, nearly 200 stocks touched their 52-week low, including Happiest Minds, Poly Medicure, Tata Chemicals, BASF, PCBL Chemical, Dixon Technologies, Vedant Fashions, Colgate Palmolive, Godrej Agrovet, ACC, among others. Click to View More

New Listing

Gujarat Kidney and Super Speciality shares price ended 9% lower after listed with premium of more than 5 percent over its initial public offer (IPO) price on the exchanges, following a 5.21 times subscription to the issue between December 22-24 in the primary market.

Outlook for December 31

Rupak De, Senior Technical Analyst at LKP Securities

The index has slipped to the upper band of the falling wedge pattern, where the correction appears to have been arrested. However, some negative technical factors may influence market sentiment in the coming days.

The index has fallen below the middle Bollinger Band, the RSI has entered a bearish crossover, and the Nifty has also slipped below the 21 EMA, reinforcing the short-term downtrend.

Immediate support is placed in the 25,850–25,870 zone. A decisive break below this level could intensify bearish sentiment, while resistance is placed at 26,000.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing weakness amidst choppy movement over the last three sessions, Nifty shifted into a minor volatility on the day of F&amp;amp;O expiry of December series on Tuesday and closed the day slightly lower. After opening on a positive note, the market stood lower for better part of the session. Intraday upside recoveries of early and mid-part have failed to sustain and Nifty finally closed near the opening levels.

A small body candle has been formed on the daily chart with upper and lower shadow. Technically, this market action indicates a doji type candle formation at the uptrend line support. Normally, a doji indicates an indecision in the market and its formation after a reasonable decline or at the crucial support more often results in a formation of near-term bottom reversal after the confirmation.

The bulls are in an attempt to comeback after a weakness. A confirmation by the way of sustainable up move on Wednesday could confirm higher bottom reversal pattern and also open bounce back in the market. Immediate support is placed around 25850-25800 levels and the next overhead resistance to be watched at 26100.

Abhinav Tiwari Research Analyst at Bonanza

Today, the Indian stock markets ended the second-last trading day of 2025 almost unchanged. The Sensex slipped just 20 points to close at 84,675, while the Nifty 50 ended flat at 25,938. The reason for flat closing was also year end portfolio rebalancing, where global funds reduce risk and adjust holdings before the new year. In addition, quarterly changes in Nifty indices led to large stock specific flows.

ICICI Bank and HDFC Bank saw outflows due to index changes, while stocks like Maruti Suzuki, Eicher Motors, and Asian Paints attracted strong buying.

Sector wise, metals performed best, rising over 2% on higher copper and aluminum prices. Auto stocks also gained modestly. Realty stocks were the worst performers, falling nearly 1% due to interest rate concerns.

Broader markets remained cautious, showing selective buying. Overall, markets are in a wait and watch mode, and we are looking ahead to 2026 for clearer global
cues and earnings driven direction.

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 end marginally lower amid monthly F&amp;O expiry; IT drags, PSU Banks gain

Nifty Trades in a Narrow 100-Point Range on 2025’s Final F&O Expiry | Closing Bell Live

Nifty Trades in a Narrow 100-Point Range on 2025’s Final F&amp;O Expiry | Closing Bell Live

The benchmark equity indices Sensex and Nifty declined on Tuesday amid continued foreign fund outflows and a muted trend in global markets, which dampened investor sentiment.

At around 12:15 p.m., the Sensex fell 180.08 points or 0.21 percent to 84,515.46, while the broader Nifty dropped to 25,884.55, down 57.55 points or 0.22 percent.

Earlier, Sensex rose 200 points to an intraday high of 84,802.64, while the broader index Nifty made a high of 25,975.85.

<a href="https://www.moneycontrol.com/india/stockpricequote/online-services/eternal/Z" target="_blank">ETERNAL</a>, Max Healthcare and InterGlobe Aviation were among the major laggards in the Nifty50 pack, declining up to 2 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/finance-leasinghire-purchase/shriramfinance/STF" target="_blank">Shriram Finance</a> and Hindalco Industries were among the top gainers, rising up to 2 percent. Market breadth turned negative as about 1518 shares advanced, 2078 shares declined and 172 shares remained unchanged.
<h3><span style="text-decoration: underline;"><strong>Key factors behind market decline</strong></span></h3>
<strong>1) FII selling: </strong>Foreign Institutional Investors (FIIs) sold equities worth Rs 2,759.89 crore on Monday, marking the fifth consecutive session of net outflows. Sustained selling by overseas investors continued to put pressure on domestic equities.

<strong>2) Weak global cues: </strong>Asian markets traded lower, with South Korea’s Kospi and Japan’s Nikkei 225 index quoting in the red. US markets also ended lower on Monday. Weak global cues tend to weigh on Indian equities as they influence investor risk appetite and fund flows.
<h3><strong><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-us-asian-markets-fall-3-liveblog-13747857.html" target="_blank">Stock Market LIVE Updates</a></strong></h3>
<strong>3) Nifty expiry: </strong>Tuesday was also the weekly and monthly expiry of Nifty derivatives contracts. Expiry sessions typically see higher volatility as traders roll over positions or square off existing ones, leading to sharp intraday movements.

<strong>4) Selling in UT shares: </strong>Profit booking was witnessed in key sectors such as information technology (IT), pharmaceuticals and real estate. The Nifty IT index extended its fall for the fifth straight session.

<strong>5) Rise in crude oil prices: </strong>Brent crude, the global oil benchmark, rose 0.03 percent to USD 61.96 per barrel. Higher crude prices can raise input costs and inflation concerns for India, a major importer of oil, thereby impacting market sentiment.

<strong>6) Rise in India Vix</strong>: The fear gauge or the volatilty index rose more than 1 percent to 9.84, indicating increased uncertainity among investors.
<h3><span style="text-decoration: underline;"><strong>Technical outlook</strong></span></h3>
Anand James, Chief Market Strategist at Geojit Investments, said the Nifty’s inability to sustain above the 26,050–26,077 zone has triggered a downward bias towards the 25,935–25,850 levels.

"However, we expect attempts to pull back early in the day, though we will wait for at least a push above 25,970–26,000 to play such upswings," he said.

<em><strong>Disclaimer</strong>: 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.</em>

Sensex falls nearly 300 pts from day's high, Nifty below 25,900: FII selling, 5 other key factors behind market decline

The benchmark equity indices Sensex and Nifty declined on Tuesday amid continued foreign fund outflows and a muted trend in global markets, which dampened investor sentiment.

At around 12:15 p.m., the Sensex fell 180.08 points or 0.21 percent to 84,515.46, while the broader Nifty dropped to 25,884.55, down 57.55 points or 0.22 percent.

Earlier, Sensex rose 200 points to an intraday high of 84,802.64, while the broader index Nifty made a high of 25,975.85.

ETERNAL, Max Healthcare and InterGlobe Aviation were among the major laggards in the Nifty50 pack, declining up to 2 percent, while Shriram Finance and Hindalco Industries were among the top gainers, rising up to 2 percent. Market breadth turned negative as about 1518 shares advanced, 2078 shares declined and 172 shares remained unchanged.
Key factors behind market decline
1) FII selling: Foreign Institutional Investors (FIIs) sold equities worth Rs 2,759.89 crore on Monday, marking the fifth consecutive session of net outflows. Sustained selling by overseas investors continued to put pressure on domestic equities.

2) Weak global cues: Asian markets traded lower, with South Korea’s Kospi and Japan’s Nikkei 225 index quoting in the red. US markets also ended lower on Monday. Weak global cues tend to weigh on Indian equities as they influence investor risk appetite and fund flows.
Stock Market LIVE Updates
3) Nifty expiry: Tuesday was also the weekly and monthly expiry of Nifty derivatives contracts. Expiry sessions typically see higher volatility as traders roll over positions or square off existing ones, leading to sharp intraday movements.

4) Selling in UT shares: Profit booking was witnessed in key sectors such as information technology (IT), pharmaceuticals and real estate. The Nifty IT index extended its fall for the fifth straight session.

5) Rise in crude oil prices: Brent crude, the global oil benchmark, rose 0.03 percent to USD 61.96 per barrel. Higher crude prices can raise input costs and inflation concerns for India, a major importer of oil, thereby impacting market sentiment.

6) Rise in India Vix: The fear gauge or the volatilty index rose more than 1 percent to 9.84, indicating increased uncertainity among investors.
Technical outlook
Anand James, Chief Market Strategist at Geojit Investments, said the Nifty’s inability to sustain above the 26,050–26,077 zone has triggered a downward bias towards the 25,935–25,850 levels.

&quot;However, we expect attempts to pull back early in the day, though we will wait for at least a push above 25,970–26,000 to play such upswings,&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.

<b>10</b> out of <b>16</b> years <b>NIFTY INFRA</b> has given negative returns in <b>December</b>.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	9,556.48	9,594.42	9,616.83	9,534.07	9,496.13	9,473.72	9,435.78
Fibonacci	9,557.12	9,571.36	9,594.42	9,534.07	9,511.01	9,496.77	9,473.72
Camarilla	9,524.08	9,529.61	9,535.15	9,534.07	9,513.02	9,507.49	9,501.95

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