After a Christmas holiday, the benchmark indices ended on a positive note following a rally for the third day on December 26 with Nifty closing the day around 21,450 amid buying across the sectors, barring IT stocks.
At close, the Sensex was up 229.84 points or 0.32 percent at 71,336.80, and the Nifty was up 91.90 points or 0.43 percent at 21,441.30.
Amid muted global cues, the market started on a flat note, but buying across the sectors helped the Nifty index to stay above 21,400 throughout the session, and closed near the day’s high level.
Stocks and sectors
The biggest Nifty gainers were Divis Laboratories, Hero MotoCorp, Adani Enterprises, Hindalco and NTPC, while losers were Bajaj Finance, Bajaj Finserv, Infosys, TCS and Tata Motors.
Except for Information Technology, all other sectoral indices ended in the green with oil & gas, power, metal, auto, healthcare gaining 1 percent each.
BSE midcap index added 0.7 percent and smallcap index up 0.5 percent.
A long build-up was seen in Tata Chemicals, Aarti Indistries and Laurus Labs, while a short build-up was seen in Manappuram Finance, RBL Bank and PVR Inox.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,312.16 | 125.69 | +0.15% |
| Nifty 50 | 26,096.70 | 44.05 | +0.17% |
| Nifty Bank | 59,183.90 | -32.15 | -0.05% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| TATA Cons. Prod | 1,176.00 | 13.90 | +1.20% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| HDFC Life | 751.50 | -9.60 | -1.26% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 55662.10 | 281.30 | +0.51% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Pharma | 22692.80 | -34.90 | -0.15% |
Among individual stocks, a volume spike of more than 100 percent was seen in Manappuram Finance, RBL Bank and India Cements.
5paisa Capita, Aarti Industries, AstraZeneca Pharma, Bharat Bijlee, Bharat Dynamics, Bharat Electricals, Castrol, Cochin Shipyard, Dynamatic Technologies, Gallantt Ispat, Heritage Foods, HFCL, J Kumar Infra, Laurus Labs, NLC India, Themis Medicare, touched their 52-week high on the BSE. Click here for the full list
Outlook for December 27
Aditya Gaggar Director of Progressive Shares
Indian equities commenced the truncated week on a strong note and as the day progressed, the Index was seen compounding its gains to settle at 21,441.35 with gains of 91.95 points. Index rally was mainly driven by the Energy and Metal stocks followed by Pharma while Media and IT segments witnessed a correction.
Chemical counters were the star performers of the day by regaining their lost momentum while Defence stocks strengthened their uptrend by registering fresh highs with volumes.
Hidden Bullish Divergence in RSI played its part very well as Nifty50 has formed a bullish candle on the daily chart and indicates a high probability of reclaiming its previous peak of 21,593. The immediate support stands at 21,370 while 21,560 will act as resistance.
Rupak De, Senior Technical Analyst at LKP Securities
Nifty mostly traded sideways after an initially positive start. The sentiment remains optimistic as the index stays above critical moving averages. At 21,500, there could be significant immediate resistance. A decisive breakout beyond this level could potentially propel the index into a substantial rally. Until then, the index is expected to remain within the range of 21,300 and 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.