In a highly volatile session on December 13, the Indian equity indices made a sharp recovery from the day's low and ended strong led by auto, bank, telecom and FMCG names.
BSE Sensex and Nifty50 bounced back more than 2 percent from the day's low amid ease in retail inflation and three-month high industrial growth at 3.5 percent in October.
At close, the Sensex was up 843.16 points or 1.04 percent at 82,133.12, and the Nifty was up 219.60 points or 0.89 percent at 24,768.30.
On the back of weak global cues, the Indian market opened negative and extended the losses in the first half, dragging Nifty below 24,200. But the market witnessed a sharp recovery in the second half amid buying seen in the heavyweights and most of the sectoral indices.
For the week, BSE Sensex added 0.7 percent and Nifty rose 0.4 percent.
Biggest Nifty gainers were Bharti Airtel, Kotak Mahindra Bank, ITC, UltraTech Cement, HUL, while losers included Shriram Finance, IndusInd Bank, Tata Steel, Hindalco, JSW Steel.
BSE Midcap and Smallcap indices ended on a flat note.
On the sectoral front, auto, bank, FMCG, telecom rose 0.5-2 percent, while realty, metal and media shed 0.5 percent each.
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 80,983.31 | 715.69 | +0.89% |
Nifty 50 | 24,836.30 | 225.20 | +0.92% |
Nifty Bank | 55,347.95 | 712.10 | +1.30% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Tata Motors | 718.35 | 38.15 | +5.61% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Bajaj Finance | 987.70 | -11.20 | -1.12% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Bank | 55347.95 | 712.15 | +1.30% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty PSU Bank | 7499.20 | -27.55 | -0.37% |
225 stocks touched their 52-week high on the BSE, including, KPR Mills, CRISIL, Page Industries, Indian Hotels, Swan Energy, HCL Technologies, Dixon Technologies, Max Healthcare, Infosys, LTIMindtree, EID Parry, Chalet Hotels, among others. Click To View More
Outlook for December 16
Rupak De, Senior Technical Analyst, LKP Securities
The equity market in India witnessed a roller-coaster session on the day of the Sensex weekly expiry. On the lower end, the Nifty found support around the neckline of the inverse head-and-shoulders pattern, completing a retest before rallying towards higher levels.
Today's low also coincides with the 38.2% retracement level of the previous rally. Going forward, the trend is likely to remain strong, with the potential to reach 25,000 and higher in the short term. On the lower end, support is placed at 24,550.
Ajit Mishra – SVP, Research, Religare Broking
The final trading session of the week was a roller-coaster ride, with Nifty experiencing sharp swings in both directions before ending at 24.768.30 level nearly 1% higher. Sectoral indices mirrored this volatility, with FMCG, IT, and banking leading the gains, while metals and realty ended in the red. The broader indices also saw choppy trading but managed to close flat.
Nifty's strong close near the day’s high suggests the potential for further upside, with confirmation expected above the 24,800 level. We maintain a positive outlook on the IT and banking sectors, recommending selective picks from others. Participants should align their strategies accordingly, prioritizing risk management to navigate market volatility effectively
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.
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