Market Update: Nifty and Bank Nifty Analysis Date 27.12.2024
Ankush Bajaj 
Nifty and Bank Nifty Analysis
Market Update: Nifty and Bank Nifty Analysis
Date: 27.12.2024, Friday
As mentioned in yesterday’s reports, the Indian stock market closed almost flat on Thursday, December 26th . The Nifty 50 closed with a marginal gain of 0.10%, up 22.55 points, settling at 23,750.00, while the BSE Sensex also remained flat at 78,472 points.
Today’s trading volumes were moderate as the market displayed signs of consolidation within a narrow range. Sectorial performance was mixed, with the Nifty Auto index outperforming, closing at 22,876, up 0.84%, driven by optimism in the automotive sector. In contrast, the Nifty Metal index underperformed, declining by 0.14%, reflecting weakness in metal stocks. Hindustan Copper surged by 6.5%, while Hindustan Zinc dropped by 2%.
The top losers on the Nifty were Asian Paints (-0.95%), Titan (-0.91%), and JSW Steel (-0.80%). The top gainers included Adani Ports (+5.22%), M&M (+1.60%), and SBI Life (+1.60%).
Indian Stock Market’s Outlook:
The Nifty 50 is currently in a consolidation phase, trading near its 200-day moving average. A clear uptrend is expected only if the index surpasses the 24,000 level; until then, the market is likely to trade within a range over the next few days.
Ankush Bajaj
SEBI Registered Research Analyst
Registration No. INH000010441
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