The Indian equity benchmarks touched fresh highs on December 19 in a highly volatile session and erased some of the previous session’s losses to end with moderate gains.
At close, the Sensex was up 122.10 points, or 0.17 percent, at 71,437.19, and the Nifty was up 34.40 points, or 0.16 percent, at 21,453.10.
The market erased the opening gains to trade in the red in the first half but some mid-session buying helped it recover losses and hit fresh highs. The Sensex climbed to 71,623.71 and the Nifty, too, touched a new high of 21,505.05.
Stocks and sectorsThe biggest Nifty gainers were Coal India, Nestle India, Tata Consumer Products, NTPC and Cipla, while the losers included SBI Life Insurance, Hero MotoCorp, Adani Ports, Wipro and Adani Enterprises.
Mixed trend was seen on the sectoral front. Metal, pharma, oil & gas, power and FMCG rose 0.3-1 percent. Auto, capital goods, realty, information technology were down 0.3-0.8 percent.
Among broader indices, the BSE smallcap index hit a new high of 42,544.95 before closing with marginal gains, while BSE Midcap index lost 0.3 percent.
A long build-up was seen in Coal India, Nestle India and Hindustan Copper, while a short build-up was seen in Seimens, Indiabulls Housing Finance and Bandhan Bank.
Among individual stocks, a volume spike of more than 600 percent was seen in Delta Corp, Nestle India and Apollo Tyres.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,712.37 | 447.05 | +0.52% |
| Nifty 50 | 26,186.45 | 152.70 | +0.59% |
| Nifty Bank | 59,777.20 | 488.50 | +0.82% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Shriram Finance | 854.90 | 26.75 | +3.23% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Interglobe Avi | 5,370.50 | -66.00 | -1.21% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8381.75 | 125.05 | +1.51% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Pharma | 22947.20 | -11.80 | -0.05% |
BEML, Century Plyboard, Coal India, Coffee Day, DCM Shriram, Edelweiss, GE Shipping, Greenply Industries, HFCL, Hindustan Copper, Indiabulls Real Estate, IRFC, Nestle, Oil India, Salasar Technologies, Subros, Texmaco Infra, Tourism Finance, touched their 52-week high on the BSE. Click here for the full list
Outlook for December 20Mandar Bhojane, Research Analyst at Choice Broking:On December 19, the Indian benchmark indices concluded with marginal gains in a highly volatile session, closing positively by 34.45 points. The Nifty achieved a new all-time high at the 21,505 level. A Hammer candlestick pattern has formed on the daily chart, suggesting potential bullish momentum. If the Nifty surpasses the 21,500 level, there is positional potential for an upward movement to 21,650 and 21,750 in the coming days.
The Nifty is expected to consolidate within a range of 21,230 to 21,500. On the downside, crucial support is positioned at 21,300–20,200, while resistance is situated at 21,500–21,700. Overall, the trend is positive, and the current dip should be considered a buying opportunity.
Bank Nifty is also consolidating within the range of 47,600 to 48,200. On the downside, 47,500 is the crucial support, and as long as it holds, Bank Nifty is anticipated to resume its upward movement towards 48,200. The overall trend is positive, and declines towards 47,700–47,600 should be perceived as buying opportunities.
Aditya Gaggar Director of Progressive SharesExtreme volatility was seen on both sides whereas in the opening trade, a strong recovery was witnessed under the leadership of heavyweight Reliance. In the mid-session, PSU Banks and Pharma counters joined the party and pushed the Index further higher to register a fresh high of 21,505.05; however, towards the end of the day, the Index pared off some of its gains to settle at 21,453.10 with gains of 34.45 points.
On the sectoral front, Energy was up by 1.58% and ended the session as a top performer followed by FMCG (+1.41%) while IT and Auto sectors witnessed a profit booking pressure. Underperformance was observed by the Broader markets as Mid and Smallcaps corrected by 0.38% & 0.12% respectively.
Nifty50 has made a Long Legged DOJI candlestick pattern which indicates indecisiveness between the bulls and bears. A range of consolidation will remain the same i.e. 21,330-21,500.
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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