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December 31, 2021 / 04:44 PM IST

Closing Bell: Nifty above 17,300, Sensex gains 459 pts on last day of 2021; metal, auto rally

All the sectoral indices ended higher with Auto, Bank, FMCG, Metal, Oil & gas, PSU Bank and Realty indices rose 1-2 percent. BSE midcap and smallcap indices rose over 1 percent each.

  • 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 31, 2021 / 04:44 PM IST

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

    The Nifty had taken support near the junction of the 40 WEMA & the weekly lower Bollinger Band in the penultimate week. In the last week, it witnessed recovery thereon. On December 31, the index surpassed a falling trendline as well as the 40 DEMA. Thus the Nifty has created headroom for itself. 

    It is now set to test 17600 on the upside where it had faced resistance in the recent past. The daily upper Bollinger Band is also present near 17600 thus making it a crucial level for the short term. On the other hand, lower end of the recent brief consolidation i.e. 17150-17100 will act as a short term support zone. 

  • December 31, 2021 / 04:38 PM IST

    Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities

    Markets showed a lot of optimism in the last trading session of the year despite mixed cues from global indices. In Spite of the recovery, nervousness amongst investors could persist going ahead due to rising cases of Omicron and worries that any fresh curbs could hinder growth momentum. 

    Technically, the Nifty is currently comfortably trading above 20 day SMA and has maintained a higher bottom formation on intraday as well as on daily charts which is broadly positive for the market. 

    On weekly charts, the index has formed a long bullish candle that also supports a short-term uptrend. But 17600 or 50 day SMA could act as an important resistance level for the traders. 

    In the near future, as long as the index is holding 17200 or 20 day SMA, the chances of hitting 17550-17600 are bright. Further upside may also continue which could lift the index up to 17725-17800 levels. 

    On the flip side, a close below 20 day SMA could see Nifty fall to 17050-16950. Meanwhile, after a short term correction, the Bank Nifty has formed a promising reversal formation near 34500. The structure suggests 35000 and 34500 would be the sacrosanct supports for the index, and above the same the uptrend momentum is likely to continue till 36000-36500.

  • December 31, 2021 / 04:37 PM IST

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

    The markets have successfully closed above the 17350 level - this should allow the Nifty to move up further to 17500-17600. 17100-17150 is the new level of support and as long as that holds, the trend of the Nifty is positive.

  • December 31, 2021 / 04:14 PM IST

    Mohit Nigam, Head - PMS, Hem Securities:

    Benchmark Indices ended this year on a positive note today with Nifty closing at +0.87% and Sensex closing at +0.80%. Strong buying is seen in Auto, Metal and Realty stocks. Textile stocks gained today after the announcement of a deferred GST hike. 

    CMS Info Systems listed today with moderate gains but then strong buying was witnessed in stock which led a rally upto 20% in intraday. It was the worst year for Gold in the last 5 years as due to global economic recovery, investors are more attracted towards equity markets rather than safe haven buying.

    On the technical front, overall structure looks positive for Nifty 50 as it manages to sustain well above 17200 level on a closing basis for the last few sessions which is a positive sign for the index technically and we believe we can witness 17500 levels in near term. 

    17200 and 17500 are immediate support and resistance in Nifty. For Bank Nifty, 35000 and 36000 are immediate support and resistance.

  • December 31, 2021 / 03:58 PM IST

    Palak Kothari, Research Associate at Choice Broking:

    After a positive opening, the index continued its upside momentum and made an intraday high at 17400.80 level and managed to close the session at 17354.05 level with a gain of 150.10 points. While Bank Nifty closed the session at 35481.70 level with a gain of 418 points. On the sectoral front, all the indices managed to close on a green note while, Nifty Metal & Nifty Auto were the top gainers. 

    On the technical front, the index has been trading in falling channel formation and facing resistance from the upper band of formation crossing above the same can show upside rally in the counter. 

    On the Four-Hourly Chart, the index has confirmed the bullish marubozu candle which suggests strength for an upcoming session. 

    Moreover, the index has been trading above 21 & 50-HMA which suggests strength in the counter. However, A momentum indicator STOCHASTIC & MACD trading with a positive crossover on the daily time-frame. 

    At present, the index has support at 17150 levels, while resistance comes at 17450 levels, crossing above the same can show 17550-17700 levels. On the other hand, Bank Nifty has support at 34800 levels while resistance at 35800 levels.

  • December 31, 2021 / 03:55 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets traded firm on the last trading day of 2021 and gained nearly a percent. The tone was upbeat from the beginning however profit taking in the latter half marginally trimmed the gains. Healthy buying in heavyweights from metal, auto and banking space supported the rally. The broader markets too ended higher in the range of 1.5-1.6%. Consequently, the Nifty closed at 17354 levels; up by 0.9%
    Though we’re seeing steady recovery so far, rising COVID cases and precautionary restrictions imposed by a few key states could dent the sentiment ahead. 

    On the other hand, the participation of the banking index is certainly encouraging which may help Nifty to test the 17,500. We reiterate our view to focus on themes/sectors which are trading in sync with the benchmark and align the positions accordingly.

  • December 31, 2021 / 03:35 PM IST

    Market Close: Benchmark indices ended on positive note on the last day of the year 2021 led by auto, bank, metal and oil & gas stocks.

    At close, the Sensex was up 459.50 points or 0.80% at 58,253.82, and the Nifty was up 150 points or 0.87% at 17,354. About 2335 shares have advanced, 947 shares declined, and 90 shares are unchanged.

    Hindalco Industries, Titan Company, UltraTech Cement, Tata Motors and Kotak Mahindra Bank were among the top Nifty gainers. Losers included NTPC, Cipla, Tech Mahindra, Power Grid Corp and Infosys.

    All the sectoral indices ended higher with Auto, Bank, FMCG, Metal, Oil & gas, PSU Bank and Realty indices rose 1-2 percent. BSE midcap and smallcap indices rose over 1 percent each.

  • December 31, 2021 / 03:25 PM IST

    Gold set for worst year since 2015 on fading safe-haven demand

    Gold was set for its worst year since 2015 on Friday as a global economic recovery caused safe-haven flows into the metal to ease and as central banks prepared to raise interest rates to contain inflation.

    Spot gold rose 0.1% in thin trading to $1,817.57 per ounce by 0846 GMT, hovering close to a one-month high. U.S. gold futures rose 0.3% to $1,818.90.

  • December 31, 2021 / 03:20 PM IST

    Fiscal Deficit in FY22 to come in at 6.6% of GDP, 20bp lower than budgeted: India Ratings

    India Ratings and Research’s (Ind-Ra) estimation shows that higher tax and non-tax revenue collections this fiscal are expected to more than offset the shortfall in disinvestment revenue, leading to the fiscal deficit coming in at 6.6% of GDP in FY22, 20bp lower than budgeted. 

    The data relating to the union government finances show that tax collections so far have immensely benefitted both from growth and inflation. While the GDP growth is benefitting due to the lower base of last year, higher inflation (GDP deflator) has led to the economy registering higher nominal GDP growth and thus helping higher tax collections.

  • December 31, 2021 / 03:17 PM IST

    BSE Midcap index rose 1 percent supported by the Vodafone Idea, Tata Communication, General Insurance Corporation of India

     BSE Midcap index rose 1 percent supported by the Vodafone Idea, Tata Communication, General Insurance Corporation of India
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