Indian stock market shows modest growth; Nifty struggles below 200 DMA; Market remains flat on last expiry day
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Indian stock market shows modest growth amid correction risks: Ajit Mishra emphasizes the need for strategic planning in the Indian stock market, highlighting long-term investment in quality stocks despite global uncertainties and domestic recovery challenges. This view comes as the market navigates potential economic hurdles.
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Market remains flat on last expiry day of the year: On December 26, the Indian domestic market experienced a flat trend due to holidays in peer markets and a lack of significant triggers. While auto shares gained, concerns over foreign institutional investor outflows and a depreciating rupee persisted, contributing to a muted market atmosphere.
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Nifty struggles below 200 DMA with bearish sentiment: The Indian benchmark indices ended flat on December 26, with the Nifty closing at 23,750.20. Analysts noted the index's sideways movement below the 200-Day Moving Average, indicating short-term pressure and bearish momentum, as more stocks declined than advanced.
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Key market updates and IPO listings: The market is set for a muted open with a focus on IndusInd Bank, while several IPOs, including Mamata Machinery and DAM Capital, are expected to list at a premium. Notable stocks like Reliance Industries and Asian Paints have made records in 2024.