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Live: Nifty, Sensex brace for choppy ride in the last week of 2023; Infosys, Paytm, & Auto in focus

Indian equity market is expected to be rangebound in the last week of the 2023 with Nifty 50 facing resistance in the zone of 21,500-21,600, and taking immediate support at 21,300-21,200 levels. Clearance of 21,600 decisively can take the index towards 21,800 levels, while the breaking of the said support can drag it towards 21,000 levels, experts said. On December 22, the benchmark indices extended gains for second consecutive session after sharp fall in middle of the week. The BSE Sensex rallied 242 points to 71,107, while the Nifty 50 jumped 94 points to 21,349. The broader markets also traded higher with the Nifty Midcap 100 and Smallcap 100 indices rising 0.7 percent and 1 percent respectively. This morning global cues are largely muted with Asian markets subdued in early and absence of cues from Wall Street. But US stocks clocked an eighth straight week of gains as inflation cools further. The GIFT Nifty is indicating a higher start for the Indian market. Also among stocks in focus today, we put the spotlight on Infosys, Paytm & Aurobindo Pharma among others. Catch Nandita Khemka in conversation with market expert Ambareesh Baliga and Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) at TradeBulls Securities.

first published: Dec 26, 2023 08:58 am