Mumbai, Dec 11 (LatestNewsX) – The Indian market jumped in and out of the red on Thursday, even though the U.S. Federal Reserve announced a 25‑basis‑point rate cut yesterday.
The Sensex opened the day a touch higher but soon fell short, trading around 84,312 in early trade—down 79 points, or 0.09 %. The Nifty shed its brief morning gain and settled near 25,750, a dip of 8 points, or 0.03 %.
“From a technical standpoint, Nifty holds immediate support at 25,600–25,650, while the 25,850–25,900 zone continues to act as a strong resistance that has repeatedly halted upward momentum,” analysts explained.
“A decisive breakout above this resistance band will be essential to re‑establish bullish traction. Conversely, a sustained move below the identified support range may extend the ongoing consolidation phase,” they added.
Early movers on the Sensex included Infosys, Eternal, Tata Steel, Maruti Suzuki, Adani Ports, HCL Tech, SBI, TCS, L&T, and Tech Mahindra, all pushing up to 1.1 %. Still, Titan, Power Grid, Bharti Airtel, NTPC, Asian Paints, ITC, Reliance Industries, Bajaj Finserv, and ICICI Bank added a few points of small losses and pulled the index back.
In the wider market, the Nifty Mid‑Cap index fell 0.17 % and the Nifty Small‑Cap dropped 0.32 %.
Sector‑wise, technology led the rally: the Nifty IT index gained 0.70 %, followed by the Nifty PSU Bank (+0.65 %), the Nifty Metal (+0.40 %) and the Nifty Auto (+0.12 %).
Consumer staples, however, struggled, with the Nifty FMCG index sliding 0.26 %.
Investors were watching global signals closely, weighing how the Fed’s latest move might affect money flows and growth.
On the flows side, foreign institutional investors sold equities worth ₹1,651 crore on December 10, while domestic institutional investors pulled in more than ₹3,752 crore.
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