26th December 2024 Pre-Market Analysis

Introduction

This report provides an overview of the recent market performance, key economic indicators, and notable stocks in both bullish and bearish situations as of December 26, 2024.

Key Points

1.Market News

1. GIFT Nifty trading flat; subdued start expected.
2. Sensex and Nifty declined after a one-day rise; key movers: Infosys Ltd. and SBI.
3. US markets closed on Wednesday (Christmas); positive sentiment from Tuesday’s rally.
4. Treasury Yields:
   • US 10-Year: +13 basis points to 4.59%.
   • US 2-Year: +14 basis points to 4.33%.
5. Dollar Index slightly down; mixed performance in Asian currencies.
6. Oil prices slightly up; gold at USD 2625 (+0.33%), silver at USD 29.71 (+0.24%).
7. Indian Rupee closed at 85.20 (record low).

2.Sector-Wise Analysis & Volume Shockers

Top Sector Performers (Weekly)

1. NIFTY PHARMA: +1.36%.
2. NIFTY HEALTHCARE INDEX: +0.47%.

Volume Shockers (Nifty Next 50)

1. INTERGLOBE AVIATION: CMP 4612.
2. SHREE CEMENTS: CMP 26707.

3. Technical Analysis

Nifty-50

• Inside Bar pattern (daily chart) for two consecutive days.
• Below key EMAs except 200-day EMA; RSI at 38 (negative bias).
• Key Support Levels: 23,830 | 23,873 | 23,943.
• Key Resistance Levels: 23,690 | 23,647 | 23,578.

Bank Nifty

• Inside Bar pattern (daily chart); range-bound (50,600–51,600).
• Below key EMAs except 200-day EMA; RSI at 40.6 (bearish sentiment).
• Key Support Levels: 51,344 | 51,402 | 51,495.
• Key Resistance Levels: 51,157 | 51,100 | 51,006.

4.Key Bullish Stocks

1. Nalco India: Signed mining lease for Utkal-D and E-Coal blocks.
2. BPCL: Lowest bidder for 150 MW Solar PV project (₹756.45 crore).
3. Bharat Forge: €39 million investment in subsidiary.
4. Panacea Biotec: Received UNICEF order for polio vaccines.
5. Ramky Infrastructure: ₹215.08 crore project.
6. Apollo Hospitals: Subsidiary acquiring Searchlight Health software business.
7. Ceigall India: ₹981 crore concession agreement with NHAI.
8. Western Carriers: ₹8 crore Tata International order.
9. Macrotech Developers: ₹40 crore arbitration win.
10. Walchandnagar Industries: ₹45 crore order for HF Reactor.
11. Share India Securities: ₹59.5 crore investment in stock exchange.

5.Key Bearish Stocks

1. Refex Industries: Plans to sell 33% stake in Refex Power.
2. Fortis Healthcare: Mutual fund holding reduced from 5% to 2.99%.
3. Cosmo First: Promoters sold shares recently.
4. Usha Martin: Shares sold by promoter group.
5. Wardwizard Innovations: Promoters sold 2.3 million shares.
6. Doms Industries: Promoter sold 2.773 million shares.
7. RBL Bank: Under F&O ban.
8. Bandhan Bank, Granules India, Hindustan Copper, and Manappuram Finance: Removed from F&O ban.

6.FIIs & DIIs

• FIIs: Net sellers (-₹2454.2 Cr on 24th December).
• DIIs: Net buyers (+₹2819.2 Cr on 24th December).

Conclusion

The market is set for a cautious start with mixed signals from international markets and local economic indicators. Investors should continue to monitor key stocks and market indices for potential movements in both bullish and bearish directions, keeping an eye on upcoming economic data and geopolitical events.