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Motilal Oswal predicts steady Indian stock growth in 2026 post-2025 consolidation., Large-cap stocks preferred for their more reasonable valuations over mid and small caps, Top investment sectors: financials, consumer discretionary, and industrials

* Motilal Oswal predicts steady Indian stock growth in 2026 post-2025 consolidation.
* Large-cap stocks preferred for their more reasonable valuations over mid and small caps
* Top investment sectors: financials, consumer discretionary, and industrials

Motilal Oswal expects steady growth for Indian stocks in 2026 after a consolidating 2025, citing strong earnings, policy support, and sectoral opportunities in large-caps, financials, consumption, and industrials, with optimism for long-term market growth.

shorts/business/after-a-year-of-consolidation-motilal-oswal-expects-markets-to-deliver-steady-growth-in-2026-check-its-favourite-sectors

* Motilal Oswal predicts steady Indian stock growth in 2026 post-2025 consolidation.
* Large-cap stocks preferred for their more reasonable valuations over mid and small caps
* Top investment sectors: financials, consumer discretionary, and industrials

Indian stock markets are likely to deliver steady growth in the upcoming year 2026 after a phase of consolidation this year, Motilal Oswal Financial Services said in its report of 2026 outlook.

Indian benchmark indices closed in the red on December 24, with <a href="https://www.moneycontrol.com/indian-indices/SENSEX-4.html">Sensex</a> falling over 116 points (0.14 percent) to 85,408.70, and <a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html">Nifty 50</a> dropping 37 points (0.14 percent) to 26,139.70.

The domestic brokerage said that Indian equity markets are entering 2026 while trading close to all-time highs. It noted that Nifty is ending the calendar year 2025 after rising 10 percent on a year-to-date basis. It however held a positive view for the next year, supported by a recovery in corporate earnings and a gradual revival in private sector investments.

"Recent and forthcoming government policy measures should further aid this recovery. The Union Budget 2026 will be a key event to watch, as it is likely to set the direction for FY2026-27," Motilal added.
<h3><strong>'India's long-term structural growth story remains intact'</strong></h3>
India's long-term structural growth story remains intact, supported by favourable demographics, rising digital adoption, increasing financialisation of household savings and continued reform momentum, the brokerage said. "We believe the government's ongoing policy initiatives will help reset the trajectory of corporate earnings over the medium term. Additionally, any resolution of the tariff stalemate with the US could act as an important external catalyst for markets," it added.
<h3><strong>Largecaps over small, midcaps:</strong></h3>
From a valuation standpoint, Motilal explained why largecaps are relatively more reasonable after recent consolidation, while midcap and small-cap stocks warrant a more selective approach, with a focus on companies that have strong balance sheets, sustainable cash flows and clear earnings visibility.

"From a valuation standpoint, the Nifty-50’s one-year forward P/E stands at 21.5x, around 4% above its long-period average (LPA) of 20.8x. In comparison, valuations in the broader market remain elevated. The Nifty Midcap-100 and Nifty Smallcap-100 are trading at P/E multiples of 28.3x and 25.9x, representing premiums of ~26% and ~50% over their respective long-term averages," it added.
<h3><strong>Which are Motilal's favourite sectors?</strong></h3>
From an investment perspective, Motilal held a positive stance on large-cap stocks, particularly in sectors where earnings growth is strong and valuations remain reasonable. Financials continue to be preferred segment, backed by healthy credit growth, improving return ratios and strong balance sheets. It also remains positive on consumption-linked sectors such as consumer discretionary and automobiles, as demand recovery broadens and revenue growth improves.

Industrials and capital goods remain well positioned, benefiting from government-led reforms, infrastructure spending and localisation initiatives across manufacturing, electronics, data centres and energy transition-related segments, it added. “We are constructive on IT services from a medium-term perspective, as global technology spending is expected to recover gradually with stabilising macro conditions and increased focus on digital transformation, AI and efficiency-led adoption,” the brokerage further said.
<h3><strong>Looking back at 2025:</strong></h3>
2025 proved to be a year of consolidation and recalibration for Indian equity markets, marked by intermittent volatility and global headwinds, Motilal said. Nifty had entered this year in correction mode after touching record highs in September 2024, with the correction extending until early April 2025 amid the imposition of trade tariffs by the US.

The brokerage noted that market movements through 2025 were largely influenced by global trade dynamics, persistent FII outflows, currency volatility and evolving geopolitical developments. Markets remained range-bound amid moderation in earnings growth across select sectors, especially in small-cap stocks, despite a relatively stable domestic macroeconomic backdrop.

Towards the end of the year, however, Motilal noted that the Nifty recovered most of its losses and went on to make new record highs, reaching 26,325 on December 1. Broader markets displayed mixed trends, with midcaps showing relative resilience, while small-caps witnessed sharper bouts of volatility.

"After two years of a sharp rally—when the Nifty Midcap100 delivered returns of 46% and 24% in 2023 and 2024, respectively, and the Nifty Smallcap100 generated 56% and 24% over the same period—2025 turned out to be a year of consolidation for the broader market. The Nifty Midcap100 managed a modest ~6% annual return, while the Nifty Smallcap100 declined by ~-6%," it said.
<h3><strong>Which factors shaped Indian stock markets in 2025?</strong></h3>
While listing out the domestic and global factors which shaped market performance in 2025, Motilal said that easing by the Reserve Bank of India (RBI) emerged as a key stabilising force. During the year, the Indian central bank implemented four repo rate cuts amounting to a cumulative 125 basis points, bringing the policy rate down to 5.25 percent. Motilal said that this easing cycle was supported by low inflation and resilient economic growth.

RBI’s 100 basis points Cash Reserve Ratio (CRR) cut, announced in June 2025 and implemented in four tranches also improved liquidity conditions. “The RBI also conducted multiple open market operations, including a ₹1 lakh crore government securities purchase in December 2025, to inject durable liquidity into the system,” it said.

“Overall, CY2025 was a year of consolidation marked by volatility and global uncertainty, but it also helped reset valuations and investor expectations. As we move into 2026, improving earnings visibility, supportive policy measures and the potential turnaround in FII flows create a favourable backdrop for Indian equities. We remain optimistic on the long-term compounding potential of Indian markets and advise investors to stay disciplined, focus on quality businesses and use market volatility as an opportunity to build exposure fundamentally strong businesses aligned with India’s structural growth themes,” it added.

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After a year of consolidation, Motilal Oswal expects markets to deliver steady growth in 2026: Check its favourite sectors

Indian stock markets are likely to deliver steady growth in the upcoming year 2026 after a phase of consolidation this year, Motilal Oswal Financial Services said in its report of 2026 outlook.

Indian benchmark indices closed in the red on December 24, with Sensex falling over 116 points (0.14 percent) to 85,408.70, and Nifty 50 dropping 37 points (0.14 percent) to 26,139.70.

The domestic brokerage said that Indian equity markets are entering 2026 while trading close to all-time highs. It noted that Nifty is ending the calendar year 2025 after rising 10 percent on a year-to-date basis. It however held a positive view for the next year, supported by a recovery in corporate earnings and a gradual revival in private sector investments.

&quot;Recent and forthcoming government policy measures should further aid this recovery. The Union Budget 2026 will be a key event to watch, as it is likely to set the direction for FY2026-27,&quot; Motilal added.
'India's long-term structural growth story remains intact'
India's long-term structural growth story remains intact, supported by favourable demographics, rising digital adoption, increasing financialisation of household savings and continued reform momentum, the brokerage said. &quot;We believe the government's ongoing policy initiatives will help reset the trajectory of corporate earnings over the medium term. Additionally, any resolution of the tariff stalemate with the US could act as an important external catalyst for markets,&quot; it added.
Largecaps over small, midcaps:
From a valuation standpoint, Motilal explained why largecaps are relatively more reasonable after recent consolidation, while midcap and small-cap stocks warrant a more selective approach, with a focus on companies that have strong balance sheets, sustainable cash flows and clear earnings visibility.

&quot;From a valuation standpoint, the Nifty-50’s one-year forward P/E stands at 21.5x, around 4% above its long-period average (LPA) of 20.8x. In comparison, valuations in the broader market remain elevated. The Nifty Midcap-100 and Nifty Smallcap-100 are trading at P/E multiples of 28.3x and 25.9x, representing premiums of ~26% and ~50% over their respective long-term averages,&quot; it added.
Which are Motilal's favourite sectors?
From an investment perspective, Motilal held a positive stance on large-cap stocks, particularly in sectors where earnings growth is strong and valuations remain reasonable. Financials continue to be preferred segment, backed by healthy credit growth, improving return ratios and strong balance sheets. It also remains positive on consumption-linked sectors such as consumer discretionary and automobiles, as demand recovery broadens and revenue growth improves.

Industrials and capital goods remain well positioned, benefiting from government-led reforms, infrastructure spending and localisation initiatives across manufacturing, electronics, data centres and energy transition-related segments, it added. “We are constructive on IT services from a medium-term perspective, as global technology spending is expected to recover gradually with stabilising macro conditions and increased focus on digital transformation, AI and efficiency-led adoption,” the brokerage further said.
Looking back at 2025:
2025 proved to be a year of consolidation and recalibration for Indian equity markets, marked by intermittent volatility and global headwinds, Motilal said. Nifty had entered this year in correction mode after touching record highs in September 2024, with the correction extending until early April 2025 amid the imposition of trade tariffs by the US.

The brokerage noted that market movements through 2025 were largely influenced by global trade dynamics, persistent FII outflows, currency volatility and evolving geopolitical developments. Markets remained range-bound amid moderation in earnings growth across select sectors, especially in small-cap stocks, despite a relatively stable domestic macroeconomic backdrop.

Towards the end of the year, however, Motilal noted that the Nifty recovered most of its losses and went on to make new record highs, reaching 26,325 on December 1. Broader markets displayed mixed trends, with midcaps showing relative resilience, while small-caps witnessed sharper bouts of volatility.

&quot;After two years of a sharp rally—when the Nifty Midcap100 delivered returns of 46% and 24% in 2023 and 2024, respectively, and the Nifty Smallcap100 generated 56% and 24% over the same period—2025 turned out to be a year of consolidation for the broader market. The Nifty Midcap100 managed a modest ~6% annual return, while the Nifty Smallcap100 declined by ~-6%,&quot; it said.
Which factors shaped Indian stock markets in 2025?
While listing out the domestic and global factors which shaped market performance in 2025, Motilal said that easing by the Reserve Bank of India (RBI) emerged as a key stabilising force. During the year, the Indian central bank implemented four repo rate cuts amounting to a cumulative 125 basis points, bringing the policy rate down to 5.25 percent. Motilal said that this easing cycle was supported by low inflation and resilient economic growth.

RBI’s 100 basis points Cash Reserve Ratio (CRR) cut, announced in June 2025 and implemented in four tranches also improved liquidity conditions. “The RBI also conducted multiple open market operations, including a ₹1 lakh crore government securities purchase in December 2025, to inject durable liquidity into the system,” it said.

“Overall, CY2025 was a year of consolidation marked by volatility and global uncertainty, but it also helped reset valuations and investor expectations. As we move into 2026, improving earnings visibility, supportive policy measures and the potential turnaround in FII flows create a favourable backdrop for Indian equities. We remain optimistic on the long-term compounding potential of Indian markets and advise investors to stay disciplined, focus on quality businesses and use market volatility as an opportunity to build exposure fundamentally strong businesses aligned with India’s structural growth themes,” it added.

The monthly options data suggested a resistance range of 26,200–26,500, with crucial support at 26,000 for the Nifty 50.

A Chennai student team won the “Most Inspirational” award at NASA’s 2025 Space Apps Challenge for “AakashNet,” a project aiming to deliver affordable, high-speed internet to remote Indian villages using an ISRO-inspired, cost-efficient satellite model.

shorts/business/technical-view-hope-for-rebound-remains-as-long-as-nifty-defends-26-000-amid-consolidation-as-vix-hits-new-closing-low

The Nifty 50 failed to defend the 26,200 level on a closing basis for another session, closing moderately lower after consolidation on December 24. However, market participants remained hopeful for a resumption of the Santa rally, given favourable technical and momentum indicators along with the India VIX hitting a new closing low. As long as the index sustains above the 26,000 support level—which coincides with the 10- and 20-day EMAs as well as the midline of the Bollinger Bands—a rally toward 26,325–26,500 is possible once the index decisively clears 26,200, experts said.

The Nifty 50 opened flat and climbed to an intraday high of 26,236, but gradually wiped out those gains from late morning deals onward. The index slipped below 26,200 in the afternoon and closed at 26,142, down 35 points. It formed a red candle with an upper shadow on the daily charts, indicating an inability to sustain at higher levels, although the higher high–higher low formation continued.

Overall, the market action over the last two sessions signals a breather after a stellar rise from the lows, which could be an uptrend continuation pattern.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the present lacklustre movement in the market could be short-lived, and the Nifty could bounce back sharply from the lows in the near term. “Immediate support is placed at the 26,000 level, and the upside resistance to be watched is around 26,300,” he said.

The index traded well above all key moving averages, with short-term moving averages trending upward. The RSI edged slightly lower to 57.18 but continued to remain well above the reference line. The MACD maintained a positive crossover with further upside in the histogram. The Stochastic RSI also sustained a bullish crossover. All these indicators suggest the continuation of a healthy trend.

The monthly options data suggested a resistance range of 26,200–26,500, with crucial support at 26,000 for the Nifty 50.

<strong>Bank Nifty</strong>

The Bank Nifty also ended the session lower at 59,184, down 116 points, forming a bearish candle with an upper shadow on the daily timeframe. This indicated a failure to sustain the 59,400–59,550 resistance zone, which is required for a further upward move toward the 59,800–60,000 levels.

The banking index failed to sustain above the midline of the Bollinger Bands for the second consecutive session. It also closed below the 10-day EMA and intraday tested the 20-day EMA as well as the falling resistance trendline (around 59,130). A decisive fall below the 59,100 level could bring bears back into action, followed by key support at 58,800–58,700.

The RSI, at 53.55, turned bearish, although the Stochastic RSI remained above the reference line. The MACD also stayed below the reference line, though the histogram weakness gradually faded further. All these indicators suggest a cautious undertone in the near term.

“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,” said Hrishikesh Yedve, AVP – Technical and Derivative Research at Asit C Mehta Investment Intermediates.

Meanwhile, the India VIX ended at a fresh closing low of 9.19, down 2 percent, and continued its downtrend for another session, which is favourable for bulls. However, being at such low levels could also lead to sharp market moves.

<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: Hope for rebound remains as long as Nifty defends 26,000 amid consolidation as VIX hits new closing low

The Nifty 50 failed to defend the 26,200 level on a closing basis for another session, closing moderately lower after consolidation on December 24. However, market participants remained hopeful for a resumption of the Santa rally, given favourable technical and momentum indicators along with the India VIX hitting a new closing low. As long as the index sustains above the 26,000 support level—which coincides with the 10- and 20-day EMAs as well as the midline of the Bollinger Bands—a rally toward 26,325–26,500 is possible once the index decisively clears 26,200, experts said.

The Nifty 50 opened flat and climbed to an intraday high of 26,236, but gradually wiped out those gains from late morning deals onward. The index slipped below 26,200 in the afternoon and closed at 26,142, down 35 points. It formed a red candle with an upper shadow on the daily charts, indicating an inability to sustain at higher levels, although the higher high–higher low formation continued.

Overall, the market action over the last two sessions signals a breather after a stellar rise from the lows, which could be an uptrend continuation pattern.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the present lacklustre movement in the market could be short-lived, and the Nifty could bounce back sharply from the lows in the near term. “Immediate support is placed at the 26,000 level, and the upside resistance to be watched is around 26,300,” he said.

The index traded well above all key moving averages, with short-term moving averages trending upward. The RSI edged slightly lower to 57.18 but continued to remain well above the reference line. The MACD maintained a positive crossover with further upside in the histogram. The Stochastic RSI also sustained a bullish crossover. All these indicators suggest the continuation of a healthy trend.

The monthly options data suggested a resistance range of 26,200–26,500, with crucial support at 26,000 for the Nifty 50.

Bank Nifty

The Bank Nifty also ended the session lower at 59,184, down 116 points, forming a bearish candle with an upper shadow on the daily timeframe. This indicated a failure to sustain the 59,400–59,550 resistance zone, which is required for a further upward move toward the 59,800–60,000 levels.

The banking index failed to sustain above the midline of the Bollinger Bands for the second consecutive session. It also closed below the 10-day EMA and intraday tested the 20-day EMA as well as the falling resistance trendline (around 59,130). A decisive fall below the 59,100 level could bring bears back into action, followed by key support at 58,800–58,700.

The RSI, at 53.55, turned bearish, although the Stochastic RSI remained above the reference line. The MACD also stayed below the reference line, though the histogram weakness gradually faded further. All these indicators suggest a cautious undertone in the near term.

“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,” said Hrishikesh Yedve, AVP – Technical and Derivative Research at Asit C Mehta Investment Intermediates.

Meanwhile, the India VIX ended at a fresh closing low of 9.19, down 2 percent, and continued its downtrend for another session, which is favourable for bulls. However, being at such low levels could also lead to sharp market moves.

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"><strong>Unlisted stocks see sharp falls in MSEI, Apollo Green; NCDEX, Goodluck Defence gain in 2025</strong></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"><strong>Tier-2 India’s ultra-rich chase double-digit returns, lag metros on succession planning: Nuvama’s Alok Saigal explains the divergence</strong></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>

<strong>Outlook for December 26</strong>

<strong>Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities</strong>

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.

<strong>Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates</strong>

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.

<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 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

Indian banks expected to see 5 percent YoY net interest income growth in Q3, Citi issues 90-day positive watch on HDFC Bank and Kotak Mahindra Bank., Bank Nifty flat; Axis Securities notes consolidation, key support at 58,700

* Indian banks expected to see 5 percent YoY net interest income growth in Q3
* Citi issues 90-day positive watch on HDFC Bank and Kotak Mahindra Bank.
* Bank Nifty flat; Axis Securities notes consolidation, key support at 58,700

Citi expects Indian banks' net interest income to grow 5% YoY and profit after tax by 4% in Q3, with mixed margin trends. Bank Nifty traded flat; key banks saw marginal gains or losses. Axis Securities sees consolidation, with 59,306 as a trend level.

shorts/business/citi-sees-indian-banks-to-report-modest-q3-profit-growth-check-key-levels-for-bank-nifty

* Indian banks expected to see 5 percent YoY net interest income growth in Q3
* Citi issues 90-day positive watch on HDFC Bank and Kotak Mahindra Bank.
* Bank Nifty flat; Axis Securities notes consolidation, key support at 58,700

Citi in its latest note has said that Indian banks are expected to report 5 percent year-on-year growth in net interest income and 4 percent upside in profit after tax in the December quarter.

It added that credit growth is likely to slow to 3–5 percent sequentially (QoQ), while net interest margins (NIMs) show divergent trends. Citi expects margins to expand for AU Small Finance Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/hdfcbank/HDF01">HDFC Bank</a>, Kotak Mahindra Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/rblbank/RB03">RBL Bank</a> and SBM Bank.

However it sees margins to remain flat for <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/icicibank/ICI02">ICICI Bank</a> and IDFC First Bank, and dip slightly for Axis Bank and Yes Bank. Citi placed a 90-day positive catalyst watch on HDFC Bank and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/kotakmahindrabank/KMB">Kotak Mahindra Bank</a>, while downgrading <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/federalbank/FB">Federal Bank</a> to "neutral" after a sharp rally.
<h3><strong>Technical view on Bank Nifty:</strong></h3>
Axis Securities remained mildly bullish on Bank Nifty, stating that the trend-deciding level for the day is 59,306. In case the index manages to trade above this level, it can rally up to 59,396-59,492-59,581 levels, the domestic brokerage said.

“However, if it trades below 59306 levels, we may witness profit booking in the market, and the index may correct up to 59210-59121-59024 levels,” it added.

“The index overall is having a consolidation period with the support maintained strong near the 58700 zone and on the upside a decisive breach above the 59800 level is necessary to establish conviction and trigger for fresh upward move in the coming days having targets of 61300 and 62700 levels expected,” said PL Capital.
<h3><strong>Bank Nifty today:</strong></h3>
Bank Nifty was trading almost flat in the green in the afternoon. The index rose 0.03 percent to 59,318.25, as seen at 12.50 pm. <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/axisbank/AB16">Axis Bank</a>, Kotak Mahindra Bank, Punjab National Bank (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/punjabnationalbank/PNB05">PNB</a>), HDFC Bank and State Bank of India (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/statebankindia/SBI">SBI</a>) shares were trading in the green with marginal gains.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/canarabank/CB06">Canara Bank</a>, AU Small Finance Bank, ICICI Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/indusindbank/IIB">IndusInd Bank</a>, IDFC First Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankbaroda/BOB">Bank of Baroda</a> and Federal Bank meanwhile were trading in the red with marginal losses.

Follow all <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">LIVE updates</a> from the stock markets here.

<em>(With inputs from Reuters)</em>

<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>

Citi sees Indian banks to report modest Q3 profit growth; check key levels for Bank Nifty

Citi in its latest note has said that Indian banks are expected to report 5 percent year-on-year growth in net interest income and 4 percent upside in profit after tax in the December quarter.

It added that credit growth is likely to slow to 3–5 percent sequentially (QoQ), while net interest margins (NIMs) show divergent trends. Citi expects margins to expand for AU Small Finance Bank, HDFC Bank, Kotak Mahindra Bank, RBL Bank and SBM Bank.

However it sees margins to remain flat for ICICI Bank and IDFC First Bank, and dip slightly for Axis Bank and Yes Bank. Citi placed a 90-day positive catalyst watch on HDFC Bank and Kotak Mahindra Bank, while downgrading Federal Bank to &quot;neutral&quot; after a sharp rally.
Technical view on Bank Nifty:
Axis Securities remained mildly bullish on Bank Nifty, stating that the trend-deciding level for the day is 59,306. In case the index manages to trade above this level, it can rally up to 59,396-59,492-59,581 levels, the domestic brokerage said.

“However, if it trades below 59306 levels, we may witness profit booking in the market, and the index may correct up to 59210-59121-59024 levels,” it added.

“The index overall is having a consolidation period with the support maintained strong near the 58700 zone and on the upside a decisive breach above the 59800 level is necessary to establish conviction and trigger for fresh upward move in the coming days having targets of 61300 and 62700 levels expected,” said PL Capital.
Bank Nifty today:
Bank Nifty was trading almost flat in the green in the afternoon. The index rose 0.03 percent to 59,318.25, as seen at 12.50 pm. Axis Bank, Kotak Mahindra Bank, Punjab National Bank (PNB), HDFC Bank and State Bank of India (SBI) shares were trading in the green with marginal gains.

Canara Bank, AU Small Finance Bank, ICICI Bank, IndusInd Bank, IDFC First Bank, Bank of Baroda and Federal Bank meanwhile were trading in the red with marginal losses.

Follow all LIVE updates from the stock markets here.

(With inputs from Reuters)

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>8</b> out of <b>16</b> years <b>NIFTY REALTY</b> has given positive returns in <b>December</b>.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	891.40	897.65	902.85	886.20	879.95	874.75	868.50
Fibonacci	890.57	893.28	897.65	886.20	881.83	879.12	874.75
Camarilla	886.20	887.25	888.30	886.20	884.10	883.05	882.00

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