Mumbai, 19 December: On the last trading day of the week, Friday, the Indian stock market opened at a high level amid positive global signals. During this time, the Nifty remained above 25,900, while the Sensex gained more than 350 points.
In early trading, as this report was written, the 30-share Sensex showed a robust rise of 434 points or 0.51 percent, trading above 84,900. Meanwhile, the Nifty traded at 25,942.30 with a gain of 126.75 points or 0.49 percent.
In the initial session, all Nifty indices traded in the green, with the Nifty Healthcare Index leading with a gain of 1.14 percent. Other sectors making profits included Nifty Pharma (up 1.1 percent), Nifty Auto (0.57 percent increase), Nifty IT (up 0.42 percent), Nifty Bank (0.27 percent gain), and Nifty FMCG (up 0.18 percent).
The broader market saw the Nifty Midcap Index rise by 0.45 percent, while the Smallcap Index increased by 0.47 percent.
Among Nifty50 stocks, Tata Motors Passenger Vehicles (TMPV), Max Healthcare, BEL, Eterna, and Infosys were top gainers. On the other hand, shares of Shriram Finance, Nestle India, and HDFC Life showed losses.
Vikram Kasat, Head Advisory at PL Capital, commented that inflation in the US appears to be decreasing, which is good news for investors there. The Consumer Price Index (CPI) for November was 2.7 percent year-on-year, lower than the expected 3.1 percent. The core CPI, which excludes food and energy prices, stood at 2.6 percent, significantly below estimates.
He further explained that this news led to a rally in the US stock market, as it increases the likelihood of the Federal Reserve reducing interest rates to support the slowing economy. According to the CME FedWatch Tool, the probability of an interest rate cut in January has now risen to over 25 percent.
According to pivot analysis, the strong support level for Nifty is at 25,750, while resistance is expected near 25,885.
On the previous trading day, Thursday, the domestic market closed almost flat. At the end of the day, the Sensex fell by 77.84 points or 0.09 percent to 84,481.81, and the Nifty showed a slight decline of 3 points, closing at 25,815.55.
(Udaipur Kiran)
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
