Sensex Down By 345 Points
Shrikant Chouhan,
Head – Equity Research,
Kotak Securities
Mumbai, 29 December 2025: The benchmark indices continued profit booking at higher levels. The Nifty ended 100 points lower, while the Sensex was down by 345 points. Among sectors, the Media Index gained 0.75 percent, whereas the Consumer Index lost the most, shedding nearly 1 percent. Technically, after a muted open, the market slipped below the 26,000/85,000 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. We believe that 26,000/85,000 or the 20-day SMA will be the key resistance zone for day traders. As long as the market trades below this level, weak sentiment is likely to continue. On the downside, it could slip to 25,850–25,800 / 84,400–84,200. On the flip side, above 26,000/85,000, the market could bounce back up to 26,100/85,300. Further upside may also continue, which could lift the index to 26,150/85,500.”
Gaurav Garg, Research Analyst Lemonn Markets Desk, reports:
Indian equity benchmarks ended lower on Monday after failing to hold early gains in thin year-end trade, as persistent foreign fund outflows, rising crude oil prices and muted global cues weighed on sentiment. Among Nifty50 stocks, Adani Ports, Power Grid Corporation and Shriram Finance were among the major laggards, falling up to 2 percent. Metal stocks outperformed, with Tata Steel and JSW Steel gaining up to 3 percent, tracking a rise in international metal prices.
Investor caution remained elevated amid thin year-end volumes. Average daily trading volumes in December declined sharply compared to November, reflecting subdued participation during the holiday season. Persistent foreign institutional investor (FII) selling further capped upside, with FIIs remaining net sellers for the fourth consecutive session. Higher crude oil prices also weighed on sentiment, as Brent crude climbed over 1 percent to around $61 per barrel, reviving concerns around inflation and India’s import bill. Global cues remained subdued, with US markets closing flat and Asian markets, including Japan’s Nikkei, trading lower. The rupee weakened marginally to 89.95 against the US dollar, pressured by foreign fund outflows and weak domestic equities. Meanwhile, India VIX rose over 6 percent to 9.71, indicating a pickup in near-term uncertainty despite overall low volatility levels.
On the technical front, note that the Nifty is trading near its 20-day moving average. A sustained move above the 26,100 is required to regain momentum, while a failure to hold above 25900 could open the door for a drift towards the 25,800 levels. Overall, markets are expected to remain in a consolidation phase in the absence of fresh triggers. Also the US India trade deal was expected to close before year end which looks bleak.
