Powergrid InvIT saw significant gap-down on Friday, closing 3.85 percent lower at Rs 89.16 amid strong volumes after exchange of units.
At close, the Sensex was up 447.55 points or 0.53 percent at 84,929.36, and the Nifty was up 150.85 points or 0.58 percent at 25,966.40.
A key change is the replacement of the Total Expense Ratio with Base Expense Ratio. Sebi has kept external levies such as GST, stamp duty, Securities Transaction Tax, Commodity Transaction Tax, and other statutory charges outside the BER. As a result, the BER will now only include fund-level costs such as management fees.
Elara noted that inflows of this size into US equities have been relatively infrequent (only 4 times) in recent years and have, in some past instances, coincided with market peaks. The brokerage said that if markets fail to build on recent gains, the likelihood of a near-term correction typically increases.
Weekly options data suggest that the Nifty 50 is expected to face a hurdle in the 26,000–26,200 zone, with support at the 25,900–25,800 levels.
Investors chose to lock in gains, leading to selling pressure after the sharp rise in early trade.
Industry participants say the answer is not straightforward and will take time to assess. While expense caps have been lowered, asset management companies (AMCs) are unlikely to absorb the entire impact
FII buying, stronger rupee, solid Q1 results of Accenture also contributed to the bullish market sentiment on December 19
The Nifty 50 is expected to remain in the 25,700 (support) and 25,900–26,000 (resistance) range, as a decisive break on either side could provide directional clarity.
The market may attempt a bounce back after a four-day losing streak, but sustainability will be key to watch. Below are some short-term trading ideas to consider.
If the Nifty 50 rebounds, the 25,900–26,000 zone can act as a hurdle on the upside; however, a decisive fall below 25,750–25,700 could open the door to the 25,500–25,450 zone, experts said.
Bhavish Aggarwal, the founder and promoter, sold 2.83 crore equity shares (0.64 percent stake) in Ola Electric Mobility, the electric scooter maker, for Rs 90.3 crore at Rs 31.9 per share.
During the trading session, DIIs purchased shares worth Rs 12,376 crore and sold shares worth Rs 9,675 crore. In contrast, FIIs bought shares worth Rs 11,442 crore but sold shares totalling Rs 10,847 crore.
Bhavish Aggarwal Stake Sale: Due to consistent selling by promoter, Ola Electric Mobility maintained its downtrend and hit all-time closing low of Rs 31.26, down 5 percent with higher volumes
India VIX, the fear index, hit a fresh closing low of 9.7, down 1.32 percent and continuing its downtrend for the third consecutive session. This provides strong comfort to bulls but, at the same time, indicates the possibility of sharp market moves.
Rise in crude prices also led to bearish market sentiment on December 18
SEBI has now approved a further window for investors holding original physical certificates along with the transfer deeds for shares purchased before April 1, 2019. These transfers can now be lodged afresh, subject to strict due diligence by registrars and companies. Cases involving disputes or suspected fraud are not eligible.
Stock market today: Sensex, Nifty rebounded from lower levels intraday on improved investor sentiment after foreign institutional investors turned buyers.
In addition, the regulator has reduced the BER for passive products such as index funds and ETFs from 1% to 0.90%. Close-ended equity funds will now be capped at 1%, while close-ended debt funds can charge up to 0.80%. For funds of funds, the limits have been set at 0.90% for index FoFs, 2.10% for equity FoFs and 1.85% for other FoFs.
Analysts viewed the stock as to be trading at a 10 to 15% discount to its sum-of-the-parts valuation, largely due to complexity, limited pure-play exposure, and capital allocation opacity.
If the Bank Nifty convincingly breaks 58,800, 58,600–58,500 will be the levels to watch, followed by 58,300. On the higher side, 59,550 can negate the lower high–lower low structure, experts said.
The market may continue to consolidate until it trades above short-term moving averages. Below are some short-term trading ideas to consider.
The 25,750–25,700 is expected to be the immediate key support for the Nifty 50; a fall below this zone could drive the index toward 25,500, the crucial support. On the higher side, 25,950–26,050 is expected to be the resistance zone, and sustaining above it could open the door for 26,300, experts said.
Akzo Nobel shares plunged 13.56 percent to close Rs 3,132.7 amid significantly higher volumes after sharp gap-down opening on the NSE.
The regulator also approved changes to how IPO disclosures are presented, requiring a draft abridged prospectus to be made available at the DRHP stage.