Sensex down 200 points:
Indices at day's low:
AUM Capital recommend buy on EID Parry:
Sensex falls 100 points:
Manappuram Finance to raise Rs 350 crore:
I-T dept conducts search at Dishman Carbogen's offices:
Nifty below 12,200:
Rupee trades flat:
Bharti Airtel share price falls:
Eveready Industries rises 10% after HC allows to sale Hyderabad property:
Yes Bank falls 1% on rating downgrade:
Gold steady as markets await trade deal signing details:
Oil rises, supported by trade deal, OPEC cuts:
SGX Nifty Update:
Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas:
The Nifty opened on flat note today however succumbed to the selling pressure in a gradual manner. As a result the index traded with a bearish bias throughout the day & ultimately closed near the low for the day. On the way down the index breached the near term support zone of 12,210-12,200. The hourly Bollinger Bands are expanding sharply after a significant contraction. Thus the correction is likely to get deeper. The Nifty can come down to test the key psychological mark of 12,000. In terms of the price pattern, a broadening formation looks underway in Nifty & the index has started sliding down from the upper end of the pattern. The broader market indices are also at the tipping point from short term perspective.
Rohit Singre, Senior Technical Analyst at LKP Securities:
Index expired December series at 12,127 with loss of 0.20 percent on expiry to expiry basis and formed a doji candle pattern on expiry chart hinting indecision in the markets. If we look at January series data it suggest highest open interest is standing in 12k PE followed by 11500 PE and on higher side highest open interest is at 12200 CE followed by 12500 CE zone hinting immediate range for January series is coming in between 12000-12200 zone and overall range is coming in between 11500-12500 zone.
Ajit Mishra, VP - Research, Religare Broking:
Markets lost over half a percent on the F&O expiry day, mainly due to profit-taking in select index majors. After a flat start, the benchmark indices inched gradually lower the day progressed and finally settled around the day’s low. In line with the index, mostly sectoral indices ended in red while a mixed trend was witnessed on the broader front.
The recent decline is largely on the expected lines and it’s healthy for the markets. Nifty has immediate support at 12,100 and we may see a rebound from that zone in the index. Stocks, on the other hand, are witnessing movement on both sides thus traders should focus more on stock selection.
Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services:
Nifty started last month of the year on subdued note and went below 20DMA level but from 2nd week onwards we saw upward momentum with Nifty closing at record high level for 4 consecutive days. However, we are seeing continuous supply around 12,300 levels. Street is positive on the government’s action to support economy, positive global cues and FII net cash inflow during the month are the factors that provided support to market in spite of economic slowdown.
Three stocks are going out of derivative segment from December expiry are Hexaware, Tata Elxsi and Union Bank; four more stocks will be going out after January expiry are Castrol, Dish TV, NBCC and Tata Motors DVR. FIIs net position in Index future has turned positive during the month, where they were net short for last 5-6 months. In Single stock future FIIs continued to be net long with current net position at highest level. Option concentration suggest that Nifty to remain in a range of 12,000 to 12,500 level for January month, however, 12,200 Call also holds decent open interest making it near term resistance.
Shabbir Kayyumi, Head of Technical Research, Narnolia Financial Advisors:
The benchmark index opened higher but could not sustain above 12,200 levels and traded lower through out the day forming a long body bearish candlestick pattern. Although Nifty is has closed below 12,150 marks, it has the strong support of line of parity and 20 DMA near 12,080 zone and the possibility of prices reversal cannot be ruled out, whereas index trading above 5 DMA placed around 12,210 will confirm the continuation of bullish move.
Market close: Indian indices ended lower for the third consecutive day on December 26 with Nifty finished below 12,150.
At close, the Sensex was down 297.50 points or 0.72% at 41163.76, while Nifty was down 88 points or 0.72% at 12,126.50. About 1312 shares have advanced, 1179 shares declined, and 172 shares are unchanged.
Yes Bank, Bharti Airtel, Reliance Industries, Adani Ports and Sun Pharma were the top losers on the Nifty, while gainers were ONGC, Vedanta, NTPC, Bajaj Finance and JSW Steel.
On sectoral front, except metal all other indices ended lower led by the PSU bank, infra, pharma, IT and energy.
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