Sensex, Nifty trade flat amid mixed global cues
Mumbai, Dec 29
Indian benchmark indices traded flat with a mild positive bias early on Monday, tracking mixed global cues and subdued year-end participation.
As of 9.30 am, Sensex moved up 40 points, or 0.04 per cent to 85,081 and Nifty gained 14 points, or 0.05 per cent to 26,057.
Main broad-cap indices performed in line with benchmark indices, with the Nifty Midcap 100 advanced 0.14 per cent, while the Nifty Smallcap 100 added 0.18 per cent.
Tech Mahindra, Tata Steel and NTPC were among the major gainers in the Nifty Pack, while losers included Bajaj Finserv, Axis Bank, Bajaj Finance and Tata Consumer.
Among sectoral gainers, the Nifty Metal index was the top performer, rising 1.11 per cent, followed by Nifty Auto and Nifty Realty, which gained 0.26 per cent and 0.25 per cent, respectively.
According to analysts, immediate support is placed at 25,850-25,900 zone, while 26,150-26,200 remains a crucial resistance band. Stable crude prices and a relatively steady rupee continue to offer underlying support, preventing sharp downside.
They further said that underperformance of India compared to most developed and emerging markets in 2025 is set to change in 2026 as Indian macros are in the 'Goldilocks' zone, with robust economic growth and recovery in earnings from Q3 FY26.
However, these factors are not enough to spark a rally soon, market watchers said. The market needs a US-India trade deal with positive surprises for India to rebound. A consolidation phase is likely in the near term in the absence of such surprises, they added.
Asia-Pacific markets traded mixed in the morning session, as investors kicked off the final trading week of the year.
In Asian markets, China's Shanghai index advanced 0.31 per cent, and Shenzhen edged up 0.03 per cent, Japan's Nikkei lost 0.31 per cent, while Hong Kong's Hang Seng Index gained 0.39 per cent. South Korea's Kospi added 1.52 per cent.
The US markets ended in the red zone on the last trading day, as Nasdaq lost 0.09 per cent, the S&P 500 eased 0.03 per cent, and the Dow moved down 0.04 per cent.
On December 26, foreign institutional investors (FIIs) sold equities worth Rs 317 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,772 crore.
— IANS
Reader Comments
The 'Goldilocks' zone comment gives me hope for 2026! Our economy's fundamentals are solid. Just need that US trade deal to materialize. Fingers crossed for the new year 🤞.
FIIs selling again... this constant outflow is worrying. But DIIs are holding the fort. Shows we Indians believe in our own market's long-term story more than foreign funds.
Interesting to see Metal and Auto sectors leading. Maybe a bet on domestic infrastructure and consumption revival? Small and midcaps still outperforming slightly, which is a healthy sign for broader market participation.
Consolidation phase is fine, but I respectfully disagree that we need a US deal to rebound. Our market should find its own legs based on our economic growth, not wait for external validation. Too much dependence on foreign cues.
Nifty holding above 26k is psychologically important. Support at 25,850 seems strong. Let's hope we close the year above this level. Chalo, thoda patience rakho, 2026 accha hoga! 😊
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