Nifty

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, highlighted the Nifty's smart recovery in the last hour, closing with a gain of 74 points at 21,619 levels. The sectoral performance presented a mixed picture, with notable buying activity in media, IT, metals, and consumer durable stocks.

Jasani reported that at the close, the Nifty exhibited a decline of 0.91%, equivalent to 197.8 points, settling at 21,513. The cash market volumes on the NSE remained below Rs.1 lakh crore, indicative of subdued sentiments in the market.

The broader market outperformed, with the Nifty Midcap 100 and Nifty Smallcap 100 both posting gains of 1%. In a notable green sweep, all sectors closed positively, with realty, PSU banks, and financials emerging as the top gainers.

Closing on Thursday, the Sensex showed an impressive gain of 490.97 points, or 0.69%, reaching 71,847.57. Simultaneously, the Nifty climbed 141.30 points, or 0.66%, concluding at 21,658.60.

Even Domestic Institutional Investors (DIIs), who have been consistent buyers, are now booking profits. Vijayakumar suggests that this profit booking, along with simultaneous dip buying, will likely keep the market highly volatile in the near term.

Markets contrary to expectation gained on three of the four sessions and had a small dip on the very last day of the year. Nothing to be read into but purely coincidental.

In terms of sectors, there was a mixed performance, with buying observed in the Auto, FMCG, Realty, and Metals sectors.

It closed the month higher by 7.9 per cent and the year higher by 20 per cent, said Deepak Jasani, Head of Retail Research at HDFC Securities.

Reflecting on the market outlook outlined earlier, James acknowledges the underestimated strength of the underlying uptrend, leading to a breach of the previously anticipated objective of 21540.

On that fateful day, markets made new highs with BSESENSEX touching 71,913.07 points while NIFTY touched 21,593.00 points and thereafter just gave way.