Daily Markets Wrap - Dec 27, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty erased morning losses and came into positive territory post noon on Dec 27. Nifty opened down, made an intra day low at 0920 Hrs and then began to rise. At close Nifty was up 0.49% or 82.5 points at 17086.2.

On a day when the volumes on the NSE were the lowest since April 03, 2020, Healthcare, Banks and Consumer durables indices gained the most, while Metals led the losers. BSE Smallcap and Midcap indices rose 0.52% and 0.27% respectively.

World shares were little changed as tentative gains in Europe were offset by earlier weakness across Asian markets. Flight cancellations over Christmas revived concerns that the Omicron virus variant could slow down the economy heading into the New Year. Asian stock markets were generally weaker with U.S. crude in holiday-thinned trading on Monday, as uncertainty over the economic impact of the Omicron coronavirus variant weighed on investor sentiment.

Nifty rose after a down day in the previous session. Advance decline ratio is positive. Volumes in the markets remain very low. 17156-17004 remains the band for the near term for the Nifty and breach either side could see momentum accelerating on that side. However in low volumes sharp moves on either side seem unlikely.

Source : Equity Bulls

Keywords

Nifty DailyMarketWrap Sensex HDFCSecurities