| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 82,500.82 | 328.72 | +0.40% |
| Nifty 50 | 25,285.35 | 103.55 | +0.41% |
| Nifty Bank | 56,609.75 | 417.70 | +0.74% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Cipla | 1,561.80 | 48.70 | +3.22% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Tata Steel | 173.86 | -2.56 | -1.45% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 7695.80 | 126.50 | +1.67% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 10261.55 | -94.65 | -0.91% |
An unexpected bullish day seen at Dalal Street where short covering+ value buying ruled the roost. Barring IT, all the other sectoral indices ended in green, with maximum gains seen in Auto & FMCG Indices.
All eyes will be on RBI MPC meeting minutes to trickle on Wednesday, 21st December. The street will look for clues with regards to inflation scenario and RBI's plan of action in the months to come. Technically, the biggest hurdle for Nifty is seen only at 18888.
The Bank Nifty bulls managed to hold the support of 43,000 on the downside and the index witnessed buying momentum throughout the day.
The index is stuck in a broad range between the 43,000-44,000 zone and a break on either side will provide a trending move. The undertone within the range remains bullish and one should keep a buy-on dip approach around the mentioned support level.
Post a minor degree dip in the last week, the Nifty reached the junction of the 40 DEMA & the daily lower Bollinger Band. These two parameters together form a key support zone & the same is being witnessed this time as well.
Also, the channel study shows that the index touched lower end of the downward sloping channel that encompasses the recent decline from 18887.
From these multiple technical parameters, the Nifty took a leap on December 19. Going ahead, the Nifty is expected to test the upper channel line near 18600. On the downside, 18250-18200 will act as a key short term support zone.
Stabilizing after the previous session, domestic indices edged towards gains owing to optimistic cues from western markets.
However, the IT sector stood out as an exception to the rally, as the growth guidance of the US IT sector signalled downgrades.
Fears of a worldwide recession and mounting local COVID cases weighed heavily on Asian stocks.
Markets started the week on a firm note and gained nearly a percent, taking a breather after the recent slide. After the flat opening, the Nifty index gradually inched higher, thanks to a recovery in select index majors from across sectors and finally settled at 18.420.45 levels.
Among the sectoral pack, auto, metal and FMCG posted decent gains while IT and pharma continue to trade subdued.
We’ve been seeing this trend that select heavyweights come to rescue the index during the corrective phase and it’s no different this time. A decisive close above 18,500 in Nifty could further fuel the rebound else profit taking may resume.
We recommend staying selective and preferring t
Indian rupee closed 16 paise higher at 82.70 per dollar on Monday against Friday's close of 82.86.
Benchmark indices ended higher on December 22 with Nifty above 18,400.
At Close, the Sensex was up 468.38 points or 0.76% at 61,806.19, and the Nifty was up 151.50 points or 0.83% at 18,420.50. About 2071 shares have advanced, 1436 shares declined, and 155 shares are unchanged.
Adani Ports, Eicher Motors, M&M, Power Grid Corporation and Adani Enterprises were among the biggest Nifty gainers, while losers were TCS, ONGC, Infosys, Sun Pharma and Tata Motors.
Except IT, all other sectoral indices ended in the green with Auto, Metal and FMCG indices up 1 percent each.
The BSE midcap index rose 0.6 percent and smallcap index up 0.3 percent.
Oil prices rose on Monday after tumbling by more than $2 a barrel in the previous session as optimism over the Chinese economy outweighed concern over a global recession.
Brent crude gained 82 cents, or 1%, to $79.86 a barrel by 0925 GMT while U.S. West Texas Intermediate crude advanced by 60 cents, or 0.8%, to $74.89.
Gold prices inched higher on Monday as a softer dollar countered pressure on the non-yielding bullion from expectations of higher interest rates in the United States for longer than earlier expected.
Spot gold rose 0.2% to $1,797.17 per ounce by 0915 GMT. U.S. gold futures gained 0.4% to $1,807.20.
-Accenture’s Q1 ahead of guidance/consensus
-Healthy managed services revenues/bookings by Accenture is positive read-through
-Consulting to remain weak on macro headwinds; managed services strong
-Accenture’s Q1 is a positive read through for Indian IT companies
-Infosys, TCS, HCL & LTIMindtree are top bets in the sector
