- Market attention to the Japanese central bank
- Sensex fell by 150 points
- Nifty opened at 25,770
Stock Market Today: On December 18, the Indian stock market witnessed a recession. Benchmark indices opened lower on mixed cues from global markets and investor caution. Currently, both the Sensex and the Nifty were trading in the red, raising concerns among traders. Market experts believe that foreign institutional investors (FII) movements and decisions by the Japanese central bank will continue to affect today’s trade.
This morning the Sensex opened down around 140 points to 0.18% at 84,428, while the Nifty opened down 50 points to 25,770. In view of the market, approximately 1,280 shares declined while 907 shares traded with gains. Among companies, stocks like TCS, SBI and Tech Mahindra are trading on a bullish note. On the other hand, major stocks like Tata Steel, NTPC and Maruti Suzuki are witnessing selling pressure. The Indian Rupee also opened steady at 90.37.
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Nifty is currently going through a consolidation on the technical charts. According to experts, 26,200 area is a strong resistance for Nifty. As long as the index does not cross this level, a major rally is unlikely. On the other hand, 25,700 and 25,500 levels are acting as important supports. Derivatives data also suggests, traders are cautious at higher levels and call writers are maintaining a firm grip on the 26,000 level.
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An exciting trend has been observed in the market. Despite FII buying, the market is going down. Analysts believe that foreign investors are now adopting a “sell on rally” strategy. Also, AI trading is weakening in the US market, which is having a global impact. Investors are also keeping an eye on the Japanese central bank. If interest rates rise there, the “yen carry trade” could change, which could further increase selling by foreign investors.
Instead of panicking about the current market downturn, it should be viewed as an opportunity. Investors should focus on quality stocks with attractive prices right now. The market can be sideways in the short term, so it’s wise to gradually buy stocks with good fundamentals during any significant decline. It is best to avoid aggressive trading until the market sees a clear breakout.
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