On December 30, the Indian stock market barely moved as traders waited for the U.S. Federal Reserve's minutes and global funds trimmed positions.
Market Overview
The Sensex slipped 20 points to close at 84,675, while the Nifty fell just 3 points to finish at 25,939. Both indices were essentially flat, reflecting cautious sentiment ahead of the Fed report and low trading volumes at month‑end.
Major Gainers and Losers
- Gainers: Shriram Finance, Tata Steel, Hindalco, Mahindra & Mahindra, Bajaj Auto.
- Losers: Max Healthcare, Eternal, Apollo Hospitals, InterGlobe Aviation, Tata Consumer.
Sector Performance
- Auto index rose about 1%.
- Metal index added roughly 2%.
- PSU banks gained close to 2%.
- IT, realty, consumer durables, healthcare and defence slipped between 0.5% and 1%.
Notable Stock Moves
- Concord Drugs jumped 3.4% after winning a ₹14.71 cr order.
- Shriram Finance rose 2% following a credit‑rating upgrade linked to its MUFG deal.
- Cupid gained 4% on news of a new FMCG plant in Saudi Arabia.
- Bartronics India rose 1% after signing a long‑term service agreement with Maharashtra Gramin Bank.
- Timex Group India climbed 3.4% as promoters exercised an oversubscription option in its OFS.
- Orient Technologies surged more than 20% after shareholders approved a bonus issue.
- Trishakti Industries rose 3.5% on an order win from Reliance Industries.
- BL Kashyap added 1.5% after securing a ₹364 cr order from ESPN Property Builders.
52‑Week Highs and Lows
More than 100 stocks touched their 52‑week highs, including Jindal Stainless, NALCO, Ashok Leyland, Maruti Suzuki, and City Union Bank. At the same time, almost 200 stocks fell to 52‑week lows, such as Happiest Minds, Poly Medicure, Tata Chemicals, and Colgate‑Palmolive.
New Listing
Gujarat Kidney and Super Speciality debuted on the exchange at a price 9% lower than its IPO issue price, despite a strong 5.21‑times subscription.
Technical Outlook for Dec 31
Analysts note that the Nifty is near the upper band of a falling‑wedge pattern, suggesting the recent pull‑back may be pausing. However, the index is below its middle Bollinger Band, the RSI shows a bearish crossover, and it has slipped under the 21‑day EMA, all pointing to short‑term downside pressure.
- Immediate support: 25,850–25,870.
- Key resistance: 26,000.
If the market breaks clearly below the support zone, bearish sentiment could strengthen. A decisive bounce above the resistance would signal a possible reversal.
Bottom Line
With the year ending and investors awaiting global cues, the Indian market stayed near‑flat. Auto and metal stocks offered modest upside, while many equities reached fresh 52‑week highs, indicating selective buying ahead of the new year.