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The benchmark BSE Sensex lost 67.30 points or 0.09% to close at 78,472.87, while the broader Nifty 50 index closed at 23,727.65, lower by 25.80 points or 0.11%.
Here’s how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said 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,” Nair added.
Asian shares
Shares slipped in Tokyo and Shanghai on Wednesday, two of only a handful of world markets open on Christmas day. Oil prices rose. Japan’s Nikkei 225 index edged 0.1 per cent lower to 38,997.02, while the Shanghai Composite index lost 0.2 per cent to 3,387.41.
US markets
Wall Street’s main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session. Both the Dow Jones Industrial Average and Nasdaq Composite scored four straight sessions of gains, with the S&P 500 taking its winning streak to three sessions, marking the first day of the seasonal Santa Claus rally.
European Markets
The UK’s benchmark FTSE 100 rose for a second day on Tuesday in thin trading volumes ahead of the Christmas break, while shares in homebuilder Vistry fell after it issued its third profit warning since October.
Tech View
The Nifty remained mostly rangebound throughout the day before closing flat. On the daily chart, the index closed below the 200-DMA for the first time in three days, confirming a short-term bearish trend, said Rupak De, Senior Technical Analyst at LKP Securities.
“The RSI is in a bearish crossover and continues to decline, reinforcing the negative outlook. On the downside, support is placed at the 23,500-23,400 zone, while resistance is seen at 23,860,” De said.
Most active stocks in terms of turnover
Amber Enterprises (Rs 3,752.03 crore), Tata Investment (Rs 1,581.01 crore), HDFC Bank (Rs 1,302.83 crore), Zomato (Rs 1,012.95 crore), ICICI Bank (Rs 925.06 crore), Tata Motors (Rs 924.44 crore) and SBI (863.43 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 28.55 crore), YES Bank (Traded shares: 4.47 crore), Zomato (Traded shares: 3.70 crore), JP Power (Traded shares: 3.36 crore), IDFC First Bank (Rs 2.62 crore), Tata Steel (Traded shares: 2.58 crore) and Suzlon Energy (Traded shares: 2.48 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Finolex Cables, Triveni Engineering & Industries, Gillette India, Emami, RBL Bank, Solar Industries and Amber Enterprises were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 170 stocks hit their 52 week highs today while 64 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Amber Enterprises, KFIN Technologies and Lloyds Metals & Energy.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Intellect Design, Go Digit General Insurance, KEC International, Torrent Power, Network18 Media, Mankind Pharma and Policy Bazaar.
Sentiment meter favours bulls
The market sentiments were neutral. Out of the 4,092 stocks that traded on the BSE on Tuesday, 2,060 stocks witnessed declines, 1,936 saw advances, while 96 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)