Indian equity benchmarks closed Monday’s trade on a lower note on the last trading week of the year. The Nifty 50 ended the day 100 points or 0.38% lower at 25,942, while the BSE Sensex fell 346 points or 0.41% to end at 84,696.
Similarly, the Nifty Bank settled 80 points or 0.13% lower at 59,932, in line with benchmarks. The mid- and small-cap stocks also closed the trade in the red. The BSE Midcap finished 212 points or 0.45% lower at 46,508.89. However, the BSE Smallcap finished 269 points or 0.61% lower at 43,601.84.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said that the benchmark indices continued profit booking at higher levels. Technically, after a muted open, the market slipped below the 26,000 mark, and post-breakdown, intraday selling pressure increased. A bearish candle on daily charts and a lower top formation on intraday charts indicate further weakness from the current levels.
“The index witnessed profit booking during the session, leading to a decline in the market. On the derivatives front, 26,000 PE put writers unwound their positions as the index slipped below this level. The trend has weakened as the index moved below the 21 EMA; additionally, it has retraced more than 50% of the previous rise, casting doubt over the sustainability of the recent rally,” said Rupak De, Senior Technical Analyst at LKP Securities.
“The market appears short on catalysts for further upside, with investors largely in holiday mode, signalling a potential consolidation phase in the near term. While the outlook for 2026 remains constructive, attention is expected to shift toward upcoming Q3 earnings and clarity on the U.S. trade agreement. In an environment of global trade anxiety and a weakening rupee, investors are likely to favour large-cap stocks for their relative safety and stronger earnings visibility,” said Vinod Nair, Head of Research at Geojit Investments.
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a lower note. During the session, out of 3,294 trading stocks, 1,022 advanced, while 2,188 declined, and 84 remained unchanged. Today, 76 stocks hit a fresh 52-week high. Meanwhile, 130 stocks touched a new 52-week low.
Top gainers
Tata Steel was the top gainer in the Nifty 50 in Monday’s session, closing 1.9% higher. It was followed by Tata Consumer Products, Asian Paints, Grasim Industries, and Nestle India.
Top losers
Adani Ports and SEZ’s shares were the biggest losers in today’s trade, falling 2.3%. It was followed by HCL Technologies, Power Grid Corp, Trent, and Adani Enterprises were the only losers.