Day trading guide for stock market today: Six stocks to buy or sell on Wednesday — December 20
Day trading guide for today: The Nifty 50 and Sensex, leading benchmark indices, reached new all-time highs of 21,505.05 and 71,623.71, respectively, during intraday trading on Tuesday, December 19. The Nifty 50 concluded with a 34-point gain, equivalent to a 0.16% increase, closing at 21,453.10. Simultaneously, the Sensex wrapped up at 71,437.19, marking a 122-point upswing, translating to a 0.17% rise.
Meanwhile, the midcap index failed to perform. The BSE Midcap index ended with a loss of 0.31 per cent at 36,186.10. “Domestic equities witnessed a second day of consolidation amid positive global cues.
Rate cut expectations lifted the US market to close near a record high, while Asian markets posted modest gains after the Bank of Japan kept the interest rate unchanged. Nifty opened higher and touched a new lifetime high of 21505 before ending the day with minor gains of 34 points (+0.2%) at 21453 levels. The broader market ended with a minor loss as Midcap100/Smallcap100 was down -0.4%/-0.1%.
Stock and sector-specific action was seen in the market. PSUs, FMCG, and Energy gained more than 1%. PSU Banks are now well placed to sustainably deliver 1% RoA, implying scope of earnings upgrade and thus driving continued rerating of the sector.
The overall market sentiments remain buoyant on the back of continued FII buying and strong macro data. FIIs have already bought ~Rs30000cr worth of equities in December month so far. Going ahead, the positive momentum is likely to continue largely driven by liquidity and vibrant mood ahead of Christmas and New Year," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
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