Indian equity markets opened largely flat on Friday, reflecting a consolidation phase as investors await fresh triggers.
At 9:30 AM, the Sensex slipped 83 points, or 0.09 per cent, to 85,325, while the Nifty eased 17 points, or 0.06 per cent, to 26,124.
Broader market indices fared slightly better, with the Nifty Midcap 100 rising 0.35 per cent and the Nifty Smallcap 100 gaining 0.27 per cent.
Among the major Nifty gainers were Cipla, Dr Reddy’s Labs, and ONGC. On the other hand, Shriram Finance, Bajaj Finance, Tata Steel, Max Healthcare, and TCS registered losses.
Sector-wise, the Nifty Consumer Durables index led the gains, climbing 0.4 per cent, followed by Nifty Metal and Nifty Chemicals, each up 0.3 per cent.
Analysts noted that the Nifty could test resistance levels at 26,202 and 26,330, while 26,000 is likely to offer near-term support.
With only four trading days left in 2025, the anticipated Santa rally is losing momentum as markets consolidate.
Analysts highlighted that no significant triggers, such as a US-India trade agreement, have emerged to push indices higher.
US GDP growth of 4.3 per cent in Q3 2025 has supported the resilience of American markets.
Rising profitability among US companies, including AI firms, may encourage foreign institutional investors (FIIs), particularly hedge funds, to increase exposure there.
Domestic institutional investors (DIIs), however, have provided support to the market. FIIs sold equities worth Rs 1,721 crore on December 24, while DIIs were net buyers to the tune of Rs 2,381 crore.
Sustained DII buying is expected to prevent sharp market pullbacks and set the stage for a potential rally in early 2026.
Asian Markets Trade Higher Despite Holiday Closures
Asian markets showed positive momentum in the morning session, despite several closures for Boxing Day.
China’s Shanghai index rose 0.17 per cent, Shenzhen gained 0.31 per cent, Japan’s Nikkei advanced 0.99 per cent, Hong Kong’s Hang Seng edged up 0.17 per cent, and South Korea’s Kospi added 0.7 per cent.
In the US, markets ended mostly higher, with the Nasdaq up 0.22 per cent, the S&P 500 rising 0.32 per cent, and the Dow advancing 0.6 per cent, bolstering investor sentiment for the coming sessions.
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