Indian stock market today traded flat, with Sensex at 85,493 and Nifty at 26,172, as investors avoided aggressive bets ahead of year-end holidays.
Sectoral performance continued to be mixed, with IT stocks pulling the indices down, while metal, PSU banks, oil and gas, and media names provided some select counterbalancing.
Domestic institutional buying absorbed the FII selling, a sign of underlying strength below the surface of short-term uncertainty.
Indian stock market today displayed a tepid trading session. The benchmark indices were seen trading almost flat, with investors becoming cautious ahead of the year-end holidays.
Sensex is trading at 85,493.10, down 74.38 points or 0.09%, and Nifty was at 26,172.20, slipping just 0.20 points at press time.
Nifty Bank index shed 42.35 points to reach 59,261.65, pointing at weakness in banking stocks. The broader markets, however, showed resilience despite the flat performance of the headline indices. While BSE Smallcap index rose 0.26%, BSE Midcap index traded almost flat, indicating selective buying interest in mid and small-cap stocks. Here’s how individual stocks performed based on Moneycontrol Live Updates.
Indian stock market today showed divergent sectoral trends. IT was the biggest laggard among all sectors, as the Nifty IT index fell 1% and snapped its four-day winning streak. Major IT stocks such as TCS, Tech Mahindra, and Infosys spearheaded the decline in IT stocks and weighed on overall market sentiment.
On the other hand, Metal stocks further stretched their winning spree for the fifth session in a row. PSU Bank and Oil & Gas indices rose 0.5 % each, acting as support to the market. Nifty Media index leapfrogged 1 %, as Nazara Technologies zoomed near 8 % topping the gainers chart.
Also Read: Stock Market Today: Sensex Jumps 458 Points, Nifty Tops 26,100; GE Vernova Up 10%
Top share market news impacting the investor sentiments today:
The board of Ambuja Cements approved the amalgamation of ACC and Orient Cement to form a single entity-cement platform. As part of the scheme of amalgamation, the company will issue 328 shares for every 100 shares in ACC and 33 shares for every 100 shares in Orient Cement.
Ambuja Cements shares surged 2.98% to Rs 556.10 whereas that of ACC fell 0.37% to Rs 1,769.25. Morgan Stanley has retained its 'overweight' rating with the target price at Rs. 650 on operational synergies and cost improvements of at least Rs. 100 per ton.
The company announced its plans to acquire Jaspersoft from Cloud Software Group for 240 million dollars, followed by the acquisition of Belgium-based startup Wobby for 4.5 million euros. HCL Tech shares, however, fell 0.47% to Rs. 1,662.20 after IT stocks witnessed selling pressure.
Financial stocks were both gainer and loser. Shriram Finance was the most active stock in volume terms, with turnover of Rs 568.27 crore as it rose by 1.29% to Rs. 946.95 while Cholamandalam Investment & Finance ended its two-day losing streak with a sharp jump of 6.39% to Rs. 1,686.20, its highest single day gain in six months.
GPT Infraprojects was declared the lowest bidder for a Rs. 670 crore order from NHAI to construct a four-lane elevated road in Jodhpur. Stock rallied 4.27% on this news. Larsen & Toubro secured an important order from Bharat Petroleum Corporation for building an LLDPE/HDPE plant in Madhya Pradesh, though the stock gained marginally by 0.39%.
Prestige Estates Projects bought a 25-acre plot in Chennai, which has a development potential of around 5 million square feet and would generate revenue of more than Rs. 5,000 crore. The other major player, Puravankara, also announced the buy of a 53.5-acre plot in Bengaluru with a gross development value of over Rs. 4,800 crore and saw its stock jump 7.75%.
1,683 shares advanced against the decline of 1,058 shares on NSE. On December 22, FIIs became net sellers, selling equities valued at Rs 457.34 crore, while DIIs remained aggressive with net buying of Rs 4,058.22 crore and extended key support to the stock market today.
Indian rupee was weaker, trading at 89.73 per dollar, compared with Monday's close of 89.65, reflecting sustained pressure on the domestic currency. In contrast, the India VIX was down 2% and indicated lower fear in the market.
Also Read: US Stock Market Today: NASDAQ Rises 0.5% as Tech Stocks and Commodities Rally Amid Key Corporate Moves
The consolidation phase characterizes the stock market today, with investors waiting for fresh triggers. According to technical analysts, immediate resistance for Nifty is seen at 26,200 levels, while 26,326, the record high, is the next target. Key support is placed at 26,000. Positive domestic institutional flows and improving sectoral performance suggest underlying strength despite short-term volatility.
1. Why was the Indian stock market flat today?
Markets ruled flat as investors turned cautious ahead of year-end holidays. No major global or domestic triggers meant limited index movement with more action at the stock news front rather than at the broad buying or selling.
2. Which sectors underperformed during today's session?
IT was the biggest loser, slipping nearly 1 %. TCS, Infosys, and Tech Mahindra witnessed selling pressure, which pulled down overall sentiment despite stability in other sectors.
3. Which sectors supported the market today?
Metal stocks extended their gains, while PSU banks and the oil and gas index also gained in moderation. Media stocks also ended in the positive terrain, with a smart rally in Nazara Technologies jacking up the sector index.
4. How was the market affected by FII and DII activity?
The upside, however, was capped by selling by Foreign Institutional Investors who sold shares worth over Rs 457 crore. Strong buying, on the other hand, by Domestic Institutional Investors absorbed the selling pressure and kept the market stable.
5. What is the outlook for Nifty in the near term?
Analysts expect resistance around the 26,200 levels and support around the 26,000. The market is in a consolidation phase, and any fresh triggers on earnings updates or clarity over policy could further guide the direction.
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