The Indian stock market experienced a mixed trading session on 26 December 2024, with benchmark indices showing cautious movements. While the BSE Sensex dipped slightly to 78,467.90, a decline of 0.01%, the NSE Nifty50 managed marginal gains, closing at 23,744.95, up 0.07%. Traders remain vigilant as the markets prepare for the December F&O expiry. Below, we delve into the highlights of the day’s trading activity, sectoral performances, and key stocks to watch.
1. Key Indices Performance
Sensex and Nifty50
- Sensex: Closed at 78,467.90, marking a minor drop of 0.01%.
- Nifty50: Gained 0.07% to close at 23,744.95, supported by selective buying.
Market Breadth
- Declining stocks: 2,316
- Advancing stocks: 1,535
- Unchanged: 133
Despite active participation from traders, the overall sentiment remained cautious.
2. Sectoral Analysis
Top Gaining Sectors
- Auto Sector: Driven by gains in Maruti Suzuki (up 1.88%) and Mahindra & Mahindra, this sector provided crucial support to the indices.
Underperforming Sectors
- Nifty Bank: Fell 0.27%, led by weakness in large-cap banking stocks.
- Nifty Financial Services: Dropped 0.16%, reflecting selling pressure in financial heavyweights.
3. Top Gainers and Losers on Nifty50
Gainers
- Maruti Suzuki: The standout performer with gains of 1.88%, bolstered by strong demand forecasts.
- Mahindra & Mahindra: Continued its upward trajectory with solid buying interest.
Losers
- Asian Paints: Declined 0.69%, leading the laggards amid subdued sentiment in the FMCG space
4. Titagarh Rail Systems: A Multibagger Stock
Historical Performance
- Over the last five years, Titagarh Rail Systems has delivered an astonishing return of 2,500% on the NSE.
- In the past three years, the stock has surged by over 1,200%, making it a favorite among investors.
Institutional Interest
- Foreign Portfolio Investors (FPIs) and Domestic Institutional Investors (DIIs) have shown strong confidence in this stock.
- Several prominent fund houses and insurance companies hold significant stakes in the company as of the September quarter of FY2024.
Recent Trends
- While the stock has seen profit booking in the short term, it remains a long-term outperformer.
- In the last year, the stock has posted modest gains of 13%, reflecting consolidation after its meteoric rise.
5. Derivatives and Options Insights
Nifty Futures
- Closed marginally positive with a gain of 0.01% at 23,772 levels on Tuesday.
Open Interest (OI) Analysis
- Maximum Call OI: Positioned at 24,000 and 25,000 strikes, indicating resistance levels.
- Maximum Put OI: Concentrated at 23,500 and 23,000 strikes, suggesting strong support zones.
6. Factors Driving Market Sentiment
Global Cues
- Positive developments in global markets buoyed early gains in Indian equities.
- Cautious Optimism
- As the session progressed, traders adopted a cautious approach ahead of the F&O expiry for December.
