The Indian stock market, including the Sensex and Nifty 50, saw significant gains on Friday, December 12, thanks to positive global sentiment following a US Federal Reserve rate cut. The Sensex rose by 450 points, or 0.53%, to close at 85,267.66, while the Nifty 50 climbed 148 points, or 0.57%, to settle at 26,046.95.
The BSE Midcap and Smallcap indices also performed well, rising by 1.14% and 0.65%, respectively. The total market capitalization of BSE-listed companies increased to over ₹470 lakh crore from ₹466.6 lakh crore in the previous session, adding more than ₹3 lakh crore to investor wealth in a single trading day.
According to Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, the Nifty 50 ended the week on a mildly weak note, but sectoral performance was encouraging, with select pockets witnessing healthy gains of 2–3%. Dongre believes that the Nifty continues to hold comfortably above the crucial 26,000 mark and expects fresh support in the 25,500–25,600 range, while immediate resistance is seen between 26,300 and 26,500.
On the Bank Nifty outlook, Dongre said that the index remains well placed above the key support band of 57,500–58,000, while major resistance is seen in the 60,000–60,500 zone. For weekly stock recommendations, Dongre suggests buying Grasim Industries at ₹2800-2840, Steel Authority of India at ₹130-131, and Hindustan Aeronautics at ₹4300-4320.
Dongre advises traders to adopt a disciplined buy-on-dips strategy in selective stocks, while keeping a close watch on global cues and geopolitical developments for clearer directional signals. As long as the Nifty sustains above 25,600 and the Bank Nifty holds above 58,000, the broader market structure is expected to remain constructive.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of the publisher. We advise investors to check with certified experts before making any investment decision.
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