Index Action
Nifty50
After a strong opening, Nifty50 steadily consolidated in a range and ended the day in green. With the volatility index (VIX) dropping to 16, the headline index closed 117 points higher at 17,072.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,500 and 18,000 call options and 17,000 and 16,500 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,700 and resistance is at 17,300 levels.
Bank Nifty
Bank Nifty inched higher during the day but saw profit-booking towards end due to lack of participation by the private banks. It closed 161 points higher at 35,191.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 37,000 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for Bank Nifty, is between 33,400 and 36,600 levels. Its immediate support is at 34,200 and resistance is at 35,900 levels.
Stock Action
Today’s top gainers were FSL, Birlasoft, Chola Investments, L&T Finance and Biocon.
Today's top losers were Zee Entertainment, JSW Steel, Vodafone-Idea, Divis Lab and Metropolis.
Sector Update
Among the Nifty sectoral indices, Realty and PSU Banks with buying interest emerged as the leading sectors. Stocks like Oberoi Realty, DLF, Godrej Properties, Bank of Baroda and PNB closed in the green.
The Media and Metal sectors saw selling pressure today. Stocks like Zee Entertainment, Sun TV, JSW Steel and SAIL closed in the red.
Major News
63 Indian corporates raised an all-time high amount of ₹1,18,704 crores in 2021 through IPOs. This was nearly 4.5 times ₹26,613 crore raised through 15 IPOs in 2020 and almost double of the previous best year 2017 in which ₹68,827 crore was raised.
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