This is how analysts read the market pulse:
Indian stocks moved largely sideways in a holiday-shortened week, with trading volumes remaining subdued as the year drew to a close, a trend mirrored in broader Asian markets, said Vinod Nair, head of research at Geojit Investments, adding that the RBI’s recently announced liquidity initiatives, including OMOs and a USD/INR buy-sell swap, are expected to improve systemic liquidity and help stabilize currency volatility. Rising unemployment has dampened optimism. Gold has continued its rally on a softer dollar and heightened geopolitical risks, supported by rising expectations of further Fed policy easing. Meanwhile, Brent crude oil hovered near multi-year lows, reinforcing the favorable inflation outlook. Looking ahead, market activity is likely to remain subdued, although investors will closely monitor developments on the trading front.
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American markets
The S&P 500 and the Dow Jones Industrial Average ended at record highs on Wednesday, while gold remained just below the $4,500 mark at the end of a short, low-volume Christmas Eve session.
All three major US stock indexes ended the session on a positive note, with the benchmark S&P 500 expected to post a gain of almost 18% this year.
Technical view
“We maintain a positive bias amid the ongoing consolidation in the index and continue to recommend a buy-on-dips approach as long as the Nifty maintains its prevailing uptrend,” said Ajit Mishra, SVP Research at Religare Broking.For renewed momentum, stronger participation from the banking index will be essential, with a decisive breakout above the 59,500 level likely to fuel the next leg of the upward move, Mishra said. He added: “Until then, participants are advised to take a stock-specific approach, focus on sectors that demonstrate consistent outperformance such as private banks, metals and automotive, and adhere to disciplined risk management in the low-volume environment.”
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Most active stocks in terms of turnover
JBM Auto (Rs 2,302 crore), Hindustan Copper (Rs 2,030 crore), Jupiter Wagons (Rs 1,660 crore), RIL (Rs 1,375 crore), HDFC Bank (Rs 1,365 crore), ICICI Bank (Rs 1,220 crore) and Shriram Finance (Rs 1,030 crore) were among the most active stocks by value on BSE. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (Shares traded: Rs 60.65 crore), Reliance Power (Shares traded: Rs 7.9 crore), Jupiter Wagons (Shares traded: Rs 4.9 crore), Hindustan Copper (Shares traded: Rs 4.7 crore), Castrol India (Shares traded: Rs 4.64 crore), Ola Electric Mobility (Shares traded: Rs 4.59 crore) and YES Bank (Shares traded: Rs 4.54 crore) were among the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of JBM Auto, Hindustan Copper, Manappuram Finance, Reliance Power, IIFL Finance, Nuvama Wealth Management and Olectra Greentech were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 115 stocks hit their 52-week highs today, while 102 stocks fell to their 52-week lows. Vedanta and Maruti Suzuki were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Kajaria Ceramic, Navin Fluorine, HFCL, Kirloskar Oil, Godawari Power, BSE and DB Realty.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,332 shares traded on the BSE on Wednesday, 2,346 shares witnessed a decline, 1,841 a rise, while 145 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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