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December 29, 2021 / 04:17 PM IST

Closing Bell: Nifty, Sensex end marginally lower amid choppy trade; metals drag, pharma gains

Selling was witnessed in the metal, bank, energy, power names, while buying was seen in the auto and pharma names. The BSE midcap and smallcap indices ended with marginal gains.

  • IndexPricesChangeChange%
    Sensex57,426.921,016.96 +1.80%
    Nifty 5017,094.35276.25 +1.64%
    Nifty Bank38,631.95984.20 +2.61%
    Nifty 50 17,094.35 276.25 (1.64%)
    Fri, Sep 30, 2022
    Biggest GainerPricesChangeChange%
    Hindalco390.5519.35 +5.21%
    Biggest LoserPricesChangeChange%
    Asian Paints3,342.45-42.35 -1.25%
    Best SectorPricesChangeChange%
    Nifty PSU Bank2995.0087.65 +3.01%
    Worst SectorPricesChangeChange%
    Nifty FMCG44405.7049.45 +0.11%


  • December 29, 2021 / 04:38 PM IST

    Mohit Nigam, Head - PMS, Hem Securities:

    Benchmark Indices ended lower in a choppy trading session today. Nifty closed -0.11% lower and Sensex closed -0.16% lower today. Strong buying is seen in selected pharma stocks while some selling pressure is seen in metal stocks today. 

    On the technical front, overall structure looks positive for Nifty 50 as it manages to sustain above 17200 level on a closing basis. 17000 and 17400 are immediate support and resistance in Nifty. For Bank Nifty, 34500 and 35500 are immediate support and resistance.

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  • December 29, 2021 / 04:20 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

    The bulls attempted to stretch their arms for yet another session however stumbled near the junction of a falling trendline & the 40 DEMA. The hourly momentum indicator, which was having negative divergence, didn’t support the bulls, thus dragging the index into the negative territory towards the end of the session. 

    In terms of the levels, 17300 acted as a key barrier & will continue to maintain pressure on the higher side going ahead. 

    On the downside, the index is expected to fill up a recent gap area of 17161 – 17112 & tumble towards the hourly lower Bollinger Band, which is near 17000. 

  • December 29, 2021 / 04:18 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Outweighing weak sentiments in most sectors, the pharma sector aided the domestic market to close on a flat note with a positive bias. Emergency Use Authorization of covid vaccines Corbevax and Covovax along with the clearance of anti-viral drug Molnupiravir for restricted use has boosted the appetite for most pharma stocks today. 

    FIIs were net buyers for the first time this month which helped the market. Multiplex stocks have taken a hit following closure of cinema halls due to stricter covid restrictions in Delhi while mid & small caps outperformed.

  • December 29, 2021 / 04:00 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

    Markets moved in a narrow range due to lack of investor participation ahead of the year end. After registering gains in the last two sessions, the market witnessed selective profit taking in metals and PSU stocks, which pulled down the benchmark indices. 

    The Nifty has maintained a higher bottom formation but after a strong pullback rally, the index has now formed a Hammer candlestick formation near the important resistance level which indicates strong possibility of a short-term weakness. 

    For the trend following traders, 17200 would be the important level to watch out for, and above the same the uptrend momentum could continue up to 17300-171350 levels. However, if the index slips below 17180, there is a strong possibility of a quick intraday correction up to 17140-17100.

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  • December 29, 2021 / 03:41 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    17250-17300 is the crucial level to look out for; this market can enter a bullish phase only if it closes above 17300. Until then the markets would be sideways and choppy. 

    16800 is good support for the index and a break of that will result in a re-entry into the medium-term bear market. It is a wait-and-watch situation: 16800 on the downside and 17300 on the upside.

  • December 29, 2021 / 03:35 PM IST

    Market Close: Benchmark indices ended lower in the volatile session on December 29.

    At close, the Sensex was down 90.99 points or 0.16% at 57,806.49, and the Nifty was down 19.70 points or 0.11% at 17,213.60. About 1969 shares have advanced, 1317 shares declined, and 96 shares are unchanged.

    Eicher Motors, Sun Pharma, Bajaj Auto, IndusInd Bank and Divis Labs were among the top Nifty gainers. Losers included ITC, SBI, Coal India, Tech Mahindra and Grasim Industries.

    Selling was witnessed in the metal, bank, energy, power names, while buying was seen in the auto and pharma names. The BSE midcap and smallcap indices ended with marginal gains.

  • December 29, 2021 / 03:35 PM IST

    Aether Industries files DRHP for Rs 1000 crores IPO
     
    Specialty chemical company, Aether Industries, which started its operations with R&D activities in Fiscal 2013 and went on to commercially launch its products in Fiscal 2017, is eyeing to raise money from the primary market as the company has filed draft red herring prospectus (DRHP) with the capital markets regulator SEBI. 

    The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs 757 crore, and an offer for sale of up to 2,751,000 equity shares, according to the DRHP. 

  • December 29, 2021 / 03:25 PM IST

    Ram Raheja - Director, S Raheja Realty view on the Knight Frank India’s Affordability Index Report:

    Availability and accessibility of housing in Mumbai has always been a matter of concern. The last two years have however changed this drastically. The pandemic came as a silver lining for the sector as home-buying took priority and also became easier with decreased rates and incentives. 

    In 10 years the EMI to income ratio has improved phenomenally from 93% to 53%. This is definitely good news for the city dwellers. Mumbai’s premium housing market will witness further upward trajectory as there is increasing demand for upgrading living spaces. 
    People are inclined to change the age-old narrative of Mumbai being synonymous with small living spaces. Buyer preference for larger homes with modern amenities are taking precedence.

  • December 29, 2021 / 03:18 PM IST

    BSE Auto index gained 0.5 percent led by the Eicher Motors, Bajaj Auto, Sundram Fasteners

     BSE Auto index gained 0.5 percent led by the Eicher Motors, Bajaj Auto, Sundram Fasteners
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  • December 29, 2021 / 03:09 PM IST

    Rohit Poddar, Managing Director, Poddar Housing and Development:

    The recent improvements in the home purchase affordability across major cities in the country has been a driving factor for the upliftment of the homebuyer sentiments. The affordability index at 10 years low has made the home buying decisions more conducive than ever, making it the most opportune time for buying a home when the home loan interest rates are also below 6.5%. 

    The affordability ratio for Mumbai has improved since 2011 but we expect positive outcomes in the upcoming year as the sales have rallied to their best in the past few months. 

    As a result, now is an excellent moment for potential buyers to buy a home because all aspects, including the regulatory environment, pricing, and home loan rates, are favourable.

  • December 29, 2021 / 03:01 PM IST

    Market at 3 PM

    Benchmark indices were trading flat with positive bias. The Sensex was up 33.12 points or 0.06% at 57930.60, and the Nifty was up 12.70 points or 0.07% at 17246. About 1944 shares have advanced, 1177 shares declined, and 81 shares are unchanged.

      Market at 3 PM  

 Benchmark indices were trading flat with positive bias. The Sensex was up 33.12 points or 0.06% at 57930.60, and the Nifty was up 12.70 points or 0.07% at 17246. About 1944 shares have advanced, 1177 shares declined, and 81 shares are unchanged.
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