Stock Market Today (3:30 PM) — Wednesday, December 24th 2025

No Christmas Cheer at Dalal Street.

Nifty witnessed a listless, dull and uninspiring session as traders chose to stay on the sidelines ahead of the Christmas holidays.

Benchmark Indices at 3:30 PM
NIFTY (-35, 26142)
SENSEX (-116, 85409)
BANK NIFTY (-116, 59184)

Market Recap:

Nifty began the day on a cautious and nervous note, briefly reclaimed the green, but failed to hold higher levels. As the session progressed, selling pressure returned, forcing the index to surrender all gains and close on a jittery and unstable footing.

Low volumes and technical overbought conditions kept sentiment subdued, with most participants preferring to protect profits rather than chase fresh positions in the holiday-thinned trade.

The pessimism in Nifty can be attributed to three key factors:

1) Long unwinding and profit booking.
2) Rupee weakness.
2) Relentless foreign outflows: Continued FII selling, amid lingering US–India trade frictions, weighed on domestic equities.

Bottom-line: A session marked by indecision, caution and absence of conviction — Santa clearly skipped Dalal Street today.

# Adv-Dec 22—28
# INDIA VIX 9.19 (-2.03%)
# NIFTY PCR (30th DEC) 0.91
# USD/INR Futures (DEC) (+0.16%, 89.80)

# SECTOR GAINERS:
NIFTY MEDIA (+0.44%)
NIFTY REALTY (+0.17%)
NIFTY METAL (+0.15%)

# SECTORS LOSERS
NIFTY OIL & GAS (-0.76%)
NIFTY PHARMA (-0.51%)
NIFTY IT (-0.51%)

# TODAY’S MARKET RE-CAP:
1) Nifty (+-0.13%) snaps its 3-day winning streak.

The positive takeaway however was that Nifty is still below its 21 DMA (26025), 50 DMA (25892) 100 DMA (25381). Nifty’s 200 DMA at 24862 mark.

2) Bank Nifty (-0.20%) mirrored Nifty’s sluggishness and ended on an uninspiring session, was in to consolidative mode with slight negative bias. Bank Nifty’s all-time-high continue to be at 60,114.05 mark.

3) The market breadth (20:30) was in favor of bears.

4) Nifty Mid-cap (-0.60%) and Nifty Small-cap (+0.28%) witnessed bullish consolidation.

5) Nifty IT index (-0.51%) slipped for 2nd straight day.

6) Meanwhile, the benchmarks are now way below their recent new record highs of:

26,325.80
Sensex: 86,159.02
Bank Nifty: 60,114.05

# STOCKS IN SPOTLIGHT:

1) Gold Rush Lifts Gold Financiers: Manappuram, IIFL Finance Lead Rally

Gold financier stocks surged as gold prices shattered fresh all-time highs, triggering strong buying interest across the sector.

Manappuram Finance (+7.11%), IIFL Finance (+5.28%), Muthoot Finance (-0.30%) and other gold-focused counters scaled new 52-week highs.

# What’s Driving the Rally?

Gold at Record Highs. Gold has vaulted past $4,500/oz on COMEX and ₹1.38 lakh on MCX, fueled by:

1) Escalating geopolitical tensions (Venezuela, Eastern Europe, Asia)
2) Softening U.S. dollar
3) Rising expectations of multiple Fed rate cuts in 2026
4) Higher gold prices directly expand the collateral value of gold loans, allowing financiers to:
a) Increase ticket sizes
b) Improve loan-to-value ratios
c) Boost interest income and margins

2) Falling Interest Rate Outlook. With markets now pricing in two U.S. rate cuts next year, funding costs for NBFCs are expected to ease, improving profitability for gold financiers.

3) Defensive Safe-Haven Rotation

4) Why Gold Financiers Are Prime Beneficiaries
Factor Impact
Rising gold prices Higher collateral value & loan growth
Lower rate expectations Margin expansion
Strong festive loan demand Volume acceleration
Risk-off global environment Steady asset quality

(Source: Barron, tradingeconomics, liveMint, Moneycontrol, business Standard)

2) Coal India (+0.5%, ₹ 402.40)
Board approved listing of subsidiary Mahanadi Coalfields in the coming financial year.

Why it is seen positive:
 Unlocks hidden value for shareholders
 Potential re-rating trigger for Coal India
 Aligns with government’s asset monetisation drive

# BULLS OF THE DAY:
TRENT (+2.26%)
SHRIRAMFIN (+1.69%)
APOLLOHOSP (+1.46%)
BAJAJAUTO (+0.82%)
ULTRACEMCO (+0.79%)

# BEARS OF THE DAY:
INDIGO (-1.55%)
ADANIENT (-1.37%)
DRREDDY (-1.28%)
WIPRO (-1.20%)
TMPV (-1.10%)

# STOCKS SCALING FRESH 52-WEEK HIGH:
ASHOKLEY (CMP 175.19) 52-week high at 178.30.
BHARATFORGE (CMP 1451) 52-week high at ₹ 1470.60
CANFINHOME (CMP 946.20) 52-week high at 948.50
EICHERMOT (CMP 7300) 52-week high at 7349.50
HINDALCO (CMP 863.95) 52-week high at 882.30

52 WEEK LOWS:
ACC (CMP 1739.50) 52 week low at 1735
JYOTHYLABS (CMP 279.65) 52 week low at 278.85

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