The Indian equity market witnessed a subdued trading session today, with benchmark indices closing in the red amidst a lack of significant buying at lower levels.

Indices Performance:

• Nifty 50: 24,198 (-0.56%)

• Sensex: 80,182 (-0.62%)

• India VIX: 14.37 (-0.83%) – indicating a slight decrease in market volatility.

Sectoral Highlights:

• Top Gainers:

• Nifty Pharma (+1.09%)

• Healthcare Index (+0.62%)

• Top Losers:

• Media (-2.24%)

• PSU Banks (-1.92%)

Top Movers:

• Gainers:

• Craftsman Automation: ₹5,663 (+11.10%)

• KFIN Technologies: ₹1,328 (+7.51%)

• Loser:

• Deepak Fertilisers & Petrochemicals: ₹1,201 (-6.64%)

Key Developments:

1. KFIN Technologies: Shares soared 7.3% following its inclusion in BlackRock’s Aladdin Provider Network, enhancing its fund administration services.

2. Aurobindo Pharma: Subsidiary Apitoria Pharma cleared a US FDA inspection with two procedural observations, leading to a 3.5% increase in share price.

3. ITC: Set January 6, 2025, as the record date for its much-anticipated hotel business demerger.

4. J Kumar Infra Projects (JKIL): Shares gained 2.6% after securing a ₹632 crore contract from NBCC for a high-profile Delhi project.

5. Shriram Finance: Secured a record $1.277 billion syndicated loan in USD, EUR, and AED, boosting market sentiment.

Market Sentiment:

• Declining breadth marked the session, with 638 stocks advancing, while 1,746 stocks declined, reflecting negative sentiment in the broader market.

Global Economic Calendar –

December 18, 2024

1. United States:

• Crude Oil Inventories: Provides insights into energy demand and supply.

• Existing Home Sales (November): Reflects the state of the housing market.

2. United Kingdom:

• Retail Sales (November): A key indicator of consumer spending trends.

3. Eurozone:

• ECB President Lagarde Speech: Likely to highlight monetary policy outlook.

4. Japan:

• Trade Balance Data (November): Measures export-import dynamics and economic health.

Technical Outlook:

The market displayed a lack of buying interest at lower levels, with both Nifty and Bank Nifty remaining in tight ranges.

For detailed support and resistance levels, watch our comprehensive analysis on YouTube.

Stay tuned for tomorrow’s insights as we continue to monitor developments in global and domestic markets.