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Positive start for markets; Focus on Nifty Auto and Pharma
Gaurav Taparia
/ Categories: Trending, Mkt Commentary

Positive start for markets; Focus on Nifty Auto and Pharma

Sensex is up by 0.50 per cent, hovering around 78,860, and Nifty is up by 0.52 per cent, trading near 23,870.

Market Update at 9:45 AM: On Friday, markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty Auto index led the gains, while Nifty Realty index lagged behind.

As of now, the Sensex is up by 0.50 per cent, hovering around 78,860, and Nifty is up by 0.52 per cent, trading near 23,870. However, in the broader market, the Nifty Midcap increased about 0.16 per cent to about 57,220, and the Nifty Smallcap is up by 0.25 per cent, trading near 18,770.

India VIX is down by 3.35 per cent, trading at 13.57, indicating a fall in market volatility.

Within the sectoral landscape Nifty Auto, Nifty Pharma and Nifty Media sector is among the Top Gainers while Nifty Realty sector is underperforming.

BAJAJ-AUTO, TATAMOTORS and DRREDDY are among the top gainers within the Nifty 50 while HCLTECH, ADANIPORTS, and BEL are among the Top Losers.

About 1,584 stocks are advancing as against to 688 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:15 AM: Wall Street ended on a mixed note on Thursday, while the U.S. benchmark Treasury yield slightly eased after hitting its highest level since May. The session saw light and directionless trading as the holiday season continued.

The Dow Jones Industrial Average inched up by 0.07 per cent to 43,325.80, whereas the S&P 500 dipped by 0.04 per cent to 6,037.59. Meanwhile, the Nasdaq Composite slipped by 0.05 per cent to close at 20,020.357.

The GIFT Nifty is indicating a strong start for the day. Nifty futures were trading at 23,924.85.

The U.S. 10-year Treasury yield stands at 4.579 per cent, while the 2-year bond yield at 4.328 per cent.

Brent crude stayed above $73, and WTI near $69.6 on Friday, with modest weekly gains. Markets weighed China’s growth measures and OPEC+'s production cuts, but oil prices remained steady, heading for a 3 per cent annual drop.

On December 26 2024, foreign institutional investors (FII) sold shares worth Rs 2,376 crore, while domestic institutional investors (DII) bought shares worth Rs 3,336 crore.

As of December 27, 2024, no stocks are under the F&O segment trading ban.

Disclaimer: The article is for informational purposes only and not investment advice. 

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