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Live: Will Nifty see further cooloff? Axis Bank block deal likely | DOMS, Inox India IPOs to open

Indian equity benchmarks turn cautious ahead of the FOMC meet outcome and saw some profit booking on December 12. Overall, the Nifty50 still remained rangebound with taking support at 20,850-20,800 levels and facing resistance at 21,000-21,100 levels, hence as long as the index holds this immediate support, the rangebound trade may continue and if it trades above 21,000 for few days, then another leg of rally can be possible, experts said. On December 12, the BSE Sensex fell 378 points to 69,551, while the Nifty50 declined 91 points to 20,906. The market breadth was in favour of bears, but the broader markets had a mixed trend. About 1,371 equity shares declined against 758 advancing shares on the NSE. The Nifty Midcap 100 index was up 0.4 percent and Smallcap 100 index gained 0.03 percent. This morning global cues are sanguine despite an uptick in US core inflation and ahead of the US Fed rate decision tonight. The Gift Nifty hints at a mildly higher start. Also among stocks in focus today, we put the spotlight on Axis Bank, Pharma Companies amid US FDA setback and PI Industries among others. Catch Nandita Khemka in conversation with Kush Bohra, Founder, kushbohra.com and Purvi Shah, DVP (Fundamental Research) – Pharma Analyst, Kotak Securities.

first published: Dec 14, 2023 08:43 am