The NSE Nifty 50 gained 0.21% to settle at 21,741.90, while the BSE Sensex jumped 0.04% to 72,271.94

JK Tyre & Industries Limited has successfully completed its fundraising initiative, securing ₹500 crore through a Qualified Institutional Placement. The offering was priced at ₹345 per share, which includes a premium of ₹343 per share over the face value of ₹2 per share.

Punjab National Bank, Bank Of Baroda, Union Bank Of India, PSB, and Canara Bank are the top gainers on Nifty PSU Bank index.

The shares of Snowman Logistics jumps over 4% to Rs 66.05 on the following news that Snowman Logistics Limited has initiated operations at a newly leased multi-temperature controlled warehouse in Guwahati, Assam. The total capacity of the warehouse is 5,152 pallets and this facility features eight chambers and four loading bays, equipped with the latest infrastructure.

Adani Enterprises, Adani ports and SEZ, Nestle India, Wipro, and Coal India are the top gainers on NSE Nifty 50.

In the face of geopolitical tensions, rising global policy rates, and volatile commodity prices, Indian equities emerged as outperformers in the global landscape throughout calendar year 2023, particularly in the mid and large-cap space. 

ICICI Direct projects a robust outlook for December 2024, setting Nifty’s target at 25,000 and Sensex’s target at 83,250, suggesting a 15% potential upside from the current index levels.

Also Read: Market strategy for 2024: ICICI Direct sees Nifty fair value pegged at 25000

HFCL share jumps upto 3% in intra-day trade on the following news that, HFCL on Monday said it has secured a Rs 1,127 crore order from Bharat Sanchar Nigam Ltd (BSNL) aimed at transforming the Optical Transport Network (OTN) infrastructure across the state-owned telco’s pan India network.

“Nifty weekly contract has highest open interest at 22000 for Calls and 21500 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 23000 for Calls and 18300 for Puts in weekly and at 22200 for Calls and 21400 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.08%, increased future index shorts by 3.19% and in index options by 83.90% in Call longs, 58.47% in Call short, 60.52% in Put longs and 41.99% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

“We are close to the 21860 objective that we had pencilled in last week. If the bulls choose to ride on the momentum, we could stretch as far as 22400, but we feel that a turn lower or side ways move is highly likely given how pronounced the negative divergence is on the directional moving indicator, and with 3d RSI peaking. That we are about 8.5% above the 100 DMA also supports this construct, as the last time we were more than 10% above this benchmark, which was in late July 2023, a three month consolidation followed. We will use 21730 as a pivot to go with this construct this week,” said Anand James, Chief Market Strategist at Geojit Financial Services.

Coal India, Tata Motors, UPL, Grasim Industries, Adani Ports are the top gainers on NE nifty 50 index.

“Bank Nifty slipped lower, forming a small red-bodied candle on the daily chart. Resistance is situated at 48300 on the higher end. As long as the index stays below 48300, the trend could lean towards favoring the bears. Moreover, a decisive drop below 48000 might drive the index below 47500. Conversely, a decisive move above 48300 could propel the index towards 48800-49000 on the higher end,” said Rupak De, Senior Technical Analyst at LKP Securities.

Commenting on the Technical outlook of Rupak De, Senior Technical Analyst at LKP Securities, said, Nifty remained sideways during the session, fluctuating within the range of 21650-21750. A doji pattern has formed on the daily chart, indicating indecisiveness in the market. This sentiment requires confirmation through a decisive breakout above 21750 or a breakdown below 21650. If it falls below 21650, the Nifty could potentially decline towards 21500. Conversely, if there’s sustained trading above 21750, the index might aim for 22000.

The NSE Nifty 50 slightly down by 0.02% to settle at 21,727.75, while the BSE Sensex opens down by 0.03% to 72,218.39.

The NSE has added Hindustan Copper to its F&O ban list for January 1, 2023.

Foreign institutional investors (FII) bought shares worth net Rs 1459.12 crore, while domestic institutional investors (DII) mopped shares worth net Rs 554.39 crore on December 28, 2023, according to the provisional data available on the NSE.

WTI crude prices are trading at $71.65 down by 0.17%, while Brent crude prices are trading at $77.08 down by 0.09%, on Monday morning.

The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded up by 0.10% at 101.33.

Wall Street’s final session of 2023 saw stocks taking a breather after a rally that put the market on pace for its ninth straight week of gains—the longest winning streak since 2004, reports Bloomberg. The tech-heavy Nasdaq Composite dipped 68.65 points or 0.45% at 15,026.49. The S&P 500 dropped by 11.36 points or 0.24% at 4,771.99, while the Dow Jones Industrial Average ended lower by 36.83 points or 0.10% to 37,673.27.