Nifty, Sensex open flat, expected volatility due to F&O expiry today

Mumbai (Maharashtra) [India]December 12 (ANI): Indian stocks opened flat as consolidation continues; however, with today’s expiry, the market may face some volatility.

The Nifty 50 index opened at 24,604.45 points, down 37.35 points or 0.15%; the BSE Sensex opened at 81,476.76 points, down 49 points or 0.06%.

Experts stress that the Indian market may face some volatility due to the expiration of the F&O segment today, but consolidation continues. With U.S. CPI inflation in line with expectations, the possibility of a Fed rate cut is almost certain.

Banking and market expert Ajay Bagga said: “Indian markets are consolidating in a narrow range. Some volatility is expected post-maturity. With the Fed rate cut more or less a foregone conclusion, the next catalyst for Indian markets will be today’s inflation data expected “It will show the CPI index falling month by month and then rising at the end of the year, and that remains our thesis.”

He also emphasized that after the U.S. CPI met expectations, the Federal Reserve became the focus, boosting the U.S. market and raising the possibility of the Fed cutting interest rates to more than 98%.

At the time of filing this report, 23 stocks in the Nifty 50 index were in gain and 27 stocks were in decline. The top Nifty 50 companies include Tech Mahindra, Bharti Airtel, TCS and Wipro, while the lower ones include Apollo Hospital, SBI Life, BPCL, Trent and Titan.

Among sectoral indices, Nifty Bank, Nifty IT, Nifty Metal, Nifty Pharma and Nifty Healthcare indexes rose while others fell.

“Indecision on Nifty continues to prevail as the resistance at 24,700 remains strong. The market has formed a short-term ‘pennant’ with lower highs and higher lows, which means an upward breakout is possible with a target of 24,800 – 25,000 Akshay Chinchalkar, Head of Research at Point Axis Securities said: “The view holds true as support at 24,500 remains elevated. ”

Value of shares sold by foreign investors $On Wednesday, DII bought shares worth Rs 1,012 crore $20 billion rupees.

Other Asian markets also rose, with Japan’s Nikkei 225 Index soaring more than 1.28%, Taiwan’s Weighted Index rising 0.93%, Hong Kong’s Hang Seng Index rising 0.68%, and South Korea’s stock market leading the gains as it continued to recover after recent political instability. 0.35%.

At the time of filing this report, Brent crude oil was trading at $73.66, slightly higher. (Arnie)