Taking Stock | Market ends flat amid high volatility; metals drag, oil gas stocks gain

After rising for 2 consecutive sessions, the Indian equity marketplace witnessed consolidation connected December 28, thereby ending level amid mixed planetary cues and scheduled F&O expiry owed tomorrow.

At Close, the Sensex was down 17.15 points oregon 0.03% astatine 60,910.28, portion the Nifty was down 9.80 points oregon 0.05% astatine 18,122.50.

"Market wavered betwixt gains and losses with investors taking their presumption astir the flatline arsenic mixed planetary cues troubled them to instrumentality a steadfast one-sided move," said Vinod Nair, Head of Research astatine Geojit Financial.

"US stocks were anemic arsenic the commercialized shortage information suggested spot successful the economy, raising concerns astir the Fed's tightening stance."

"However, steps toward reopening the Chinese system accrued the imaginable of request recovery," helium added.

Also Read - Five scenarios that endanger much strife for planetary markets

Stocks and sectors

Titan Company, M&M, Power Grid Corporation, Maruti Suzuki and UPL were among the biggest Nifty gainers. On the contrary, Bharti Airtel, Apollo Hospitals, Hindalco Industries, Tata Steel and Bajaj Finserv emerged arsenic the apical losers.

On the sectoral front, the Nifty pharma scale shed 0.5 percent, portion the car scale roseate 0.6 percent. The vigor index, too, gained 0.3 percent.

The BSE midcap scale was up 0.2 percent and smallcap scale roseate 0.4 percent.

On the BSE, lipid & state and powerfulness indices gained 1 percent each portion realty and car indices added 0.5 percent each. On the different hand, selling was seen successful the bank, superior goods, metal, healthcare and accusation exertion stocks.

Among idiosyncratic stocks, a measurement spike of much than 100 percent was seen successful Oberoi Realty, GNFC and Titan Company.

A abbreviated build-up was seen successful Amara Raja Batteries, L&T Technology Services and Honeywell Automation India, portion a agelong build-up was seen successful Atul, GNFC and RBL Bank.

Fertilizers & Chemicals Travancore, Hariom Pipe Industries, Jindal Steel & Power, Maxheights Infrastructure and RBL Bank touched 52-week precocious connected the BSE.

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Outlook for December 29

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

Continuing with the bounce that was seen successful the past mates of sessions, the Nifty attempted to inch higher connected December 28. The regular illustration shows that the scale has moved up to retest a trendline, which was breached connected the downside connected Friday past week.

18150-18200 is the cardinal absorption zone, which so proved to beryllium a important obstruction for the day. As agelong arsenic the scale stays beneath this absorption portion connected a closing basis, it is apt to witnesser consolidation successful the abbreviated term. 18000-18200 tin beryllium the choky scope for the Nifty with important enactment placed astatine 17800.

Ajit Mishra, VP - Technical Research, Religare Broking

The benchmark indices traded dull and ended astir level amid mixed cues. After the archetypal downtick, the Nifty spent the full time successful a constrictive set nevertheless the code was connected the affirmative side, acknowledgment to buying prime scale majors. And, it yet settled astatine 18,122.50 levels.

Among the sectoral pack, auto, vigor and prime PSU banks were successful the limelight portion antiaircraft viz. pharma and FMCG traded subdued.

Indications are pointing towards a range-bound inclination to proceed successful Nifty and we expect stock-specific moves to support the participants occupied, acknowledgment to the scheduled expiry of December period derivatives contracts. Besides, the broader indices are besides showing immoderate stability, truthful participants tin selectively look for buying opportunities.

Disclaimer: The views and concern tips expressed by experts connected Moneycontrol are their ain and not those of the website oregon its management. Moneycontrol advises users to cheque with certified experts earlier taking immoderate concern decisions.