Dalal Street Resumes Trading Post Christmas, Sensex Tanks Over 100 Points, Nifty Tests 26,100
In the pre-open session, the Sensex tanked over 100 points and fell below 85,300, and the Nifty hovered near 26,100, around 9:06 AM.
Dalal Street failed to cheer up post Christmas and rang the opening bell on Friday with a heavy sentiment. The BSE Sensex opened the session near 85,280, crashing a little over 130 points, while the NSE Nifty50 started trading at 26,100, slipping close to 50 points, around 9:15 AM.
In the pre-open session, the Sensex tanked over 100 points and fell below 85,300, and the Nifty hovered near 26,100, around 9:06 AM. The GIFT Nifty also remained muted in the morning, giving indications of a tepid session ahead.
On the 30-share Sensex, BEL, Titan, PowerGrid, Infosys, and TMPV stood among the early gainers. Meanwhile, Bajaj Finance, Eternal, Sun Pharma, Tata Steel, and Bajaj Finserv dominated the laggards.
In the broader markets, the Nifty Midcap Select index inched up 0.28 per cent. Most of the indices traded marginally higher. Sectorally, the Consumer Durables index led across the board after it rose 0.45 per cent. On the other hand, the Media index slipped 0.30 per cent.
Notably, the Indian stock market ended marginally lower on Wednesday as selling pressure in select sectors such as oil and gas, pharmaceuticals and information technology stocks weighed on benchmark indices. Trading activity remained subdued, with investors preferring to stay cautious ahead of the Christmas holiday on Thursday. The Sensex closed at 85,408.70, slipping 116.14 points. The Nifty also ended lower, shedding 35.05 points to settle at 26,142.10.
Global Markets
Asian markets were mixed today, with South Korea’s Kospi and Japan’s Nikkei 225 trading higher, while China’s Shanghai Composite remained under pressure. Trading activity was thin globally as US markets stayed shut for the Christmas holiday on Thursday.
On the domestic institutional front, foreign portfolio investors continued to pare their exposure, selling shares worth Rs 1,721.26 crore on Wednesday. In contrast, domestic institutional investors stepped in as buyers, picking up equities worth Rs 2,381.34 crore, exchange data showed.
Market participants remain cautious in the absence of fresh global or domestic triggers. “Without new developments such as progress on a US–India trade deal, the market is likely to move in a consolidation phase around current levels,” said V K Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd.
Adding to the subdued tone, Brent crude prices edged up 0.11 per cent to $62.31 per barrel. Holiday-thinned volumes, continued FII selling and the lack of strong domestic cues are keeping sentiment fragile. As a result, markets are expected to remain range-bound and volatile in the near term, said Prashanth Tapse, Senior Vice-President (Research) at Mehta Equities Ltd.
Sensex, Nifty Trade Lower As Year-End Caution Dominates
Market participants have remained largely on the sidelines amid thin volumes, resulting in a narrow trading range for both benchmarks recently. Analysts noted that the Nifty gravitated towards the 26,100–26,130 support zone, where some buying interest emerged, though it lacked the momentum needed for a decisive rebound.
“Unless the Nifty decisively reclaims the 26,200 level, the short-term outlook remains cautious, with downside risks extending towards 26,100 and lower,” experts said.
Related Video
BREAKING NOW: Indore fire tragedy as EV short circuit triggers deadly explosions
Top Headlines
