Dear
Trader…
The benchmark BSE Sensex lost 67 points or 0.09% to close at
78,472, while the broader Nifty Future index closed at 23,770, higher by 01
points.
The market capitalisation of all listed companies on the BSE
decreased by Rs 1.55 lakh crore to Rs 441.62 lakh crore.
Sectoral
Watch – The IT sector, which emerged as a
bright spot in an otherwise tepid market in early trade, closed 0.4% lower. IT
heavyweight Infosys closed 1.1% lower and was the biggest drag on the Nifty 50
index.
Financial stocks also dragged on the benchmarks, with the
Nifty financial services closing 0.2% lower while Nifty Bank and Nifty PSU
posted 0.2% and 0.6% declines for the day, respectively.
Global
Markets – The global equity index rose on
Tuesday with help from Wall Street, and the U.S. Treasury yields climbed to an
almost seven-month high while data showed a deterioration in U.S. consumer
confidence and investors prepared for fewer Federal Reserve rate cuts in 2025.MSCI’s
gauge of stocks across the globe climbed 0.65%, while earlier, Europe’s STOXX
600 index finished up 0.14%.
Elsewhere, Asian markets were mostly higher on Tuesday, with
Chinese markets logging advances of more than 1% after the Chinese finance
minister promised a more pro-active approach to government spending in the
coming year. Japan’s benchmark Nikkei 225 slipped 0.3%, the Hang Seng in Hong
Kong added 1.1% and the Shanghai Composite index was up 1.3%.
Currency
Watch – The Indian rupee weakened to its
all-time low of 85.2075 against the U.S. dollar on Tuesday, as a rise in U.S.
bond yields boosted the dollar and strong demand for the greenback from
importers added to the lingering pressure on the local currency.
Meanwhile,the dollar index, which gauges the greenback’s
strength against a basket of six currencies, was trading higher by 0.11% at
107.93.
FII/DII
– Foreign institutional investors
(FIIs) were net sellers in the capital markets on December 23, as they
offloaded shares worth Rs 168.71 crore, while domestic institutional investors
bought equities worth Rs 2,227.68 crore on the same day.
Nifty futures opened at 23765 points against the previous
close of 23769 and opened at a low 23716 points. Nifty Future closed with an
average movement of 163 points and Decline of around 01 points and closed 23770
points…!!
Meanwhile,
The domestic market concluded flat ahead of the
holiday, with metal and power stocks dragging performance, while FMCG and auto
sectors gained from recent corrections.
The near-term market trajectory hinges on the outcome of Q3
results and the Union budget, but caution prevails due to a strong dollar, high
bond yields, and concerns over rate cuts. The INR hitting an all-time low,
further evoked the caution.
Technically, the
important key resistances are placed in Nifty future are at 23770 levels, which
could offer for the market on the higher side. stainability above this zone
would signal opens the door for a directional up move with immediate
resistances seen at 24008 – 24088 levels. Immediate support is placed at 23676 –
23474 levels.
Past Performance is not an Indicator of Future Returns. The
securities quoted are for illustration only and are not recommendatory. Investment
in securities market are subject to market risks. Read Disclaimer and related
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