Today’s share market’s key developments include: Markets open upbeat as pharma stocks react to the FY2026 NDAA and BIOSECURE Act, IT stocks track Accenture growth and AI metrics shift, BPCL clears Coal India JV, GPT Infra wins ₹1,804-cr order, while FIIs and DIIs remain net buyers.
Source: Bajaj Broking Research Desk.
GIFT NIFTY: Gift Nifty suggests a positive opening for the Indian market. Nifty spot in today's session is likely to trade in the range of 25,700-26,050.
INDIA VIX: 9.71 | -0.13 (1.32%) ↓ today
Pharma stocks - President Trump Signs FY2026 National Defense Authorization Act Into Law. Alert: BIOSECURE Act Included In The FY2026 National Defense Authorization Act.
IT Stocks - Accenture organic growth guidance for FY26 maintained at 0.5%-3.5%, advanced AI bookings up 76% YoY at $2.2 bn vs new bookings at $20.9 bn. Revenues of up 5% YoY in local currency terms at $18.7 bn, ahead of est. Co will discontinue separate AI-metrics disclosure, says advanced AI is now embedded across nearly all client engagements.
BPCL board approves JV with Coal India for coal gasification project in Maharashtra.
Kolkata-based GPT Infra bags ₹1,804-cr flyover contract from MCGM.
FIIs Net Buy ₹595.78 Cr, while DIIs Net Buy ₹2,700.36 Cr in Equities yesterday(Provisional).
Treasury Yield:
The yield on the US 10-year Treasury fell more than 3 basis points to 4.118%.
Currency:
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.15% to 98.22.
Commodities:
Gold prices edged lower on Thursday as markets digested softer-than-expected U.S. inflation data. Spot gold were last trading down by 0.2% at $4,330.39 an ounce.
Brent crude rose 0.23%, to close at $59.82 per barrel.
General Trends:
Asia-Pacific markets rose Friday as investors look toward the Bank of Japan decision coming out later in the day.
Sector-Specific Indicator:
In today's morning trade, Japan’s Nikkei 225 advanced 0.56%, while the Topix was 0.57% higher. South Korea’s Kospi jumped 0.68% and the small-cap Kosdaq added 0.53%.
Japanese consumer price index inflation remained steady as expected in November, with underlying inflation cooling slightly but remaining well above the Bank of Japan’s annual target. The data, released on Friday, came just hours before the BOJ meeting concluded, where the central bank is widely expected to hike interest rates by 25 basis points.
Market in the Previous Session:
Indian equity benchmarks closed flat in a volatile session on December 18. The index rose in the first half to an intraday high of 25,902 but gave up gains later as selling pressure emerged in the latter half of the day. Investor focus now shifts to the Bank of Japan’s policy decision due on December 19, with markets factoring in a 25-bps rate hike.
By the close, the Sensex dipped 77.84 points (0.09%) to 84,481.81, while the Nifty was marginally lower by 3 points (0.01%) at 25,815.55.
Broader markets outperformed, with the midcap index gaining 0.34% and the small-cap index rising 0.13%.
On the sectoral front, realty stocks edged up 0.3%, while IT emerged as the top performer, rising over 1%, supported by selective buying and currency-related tailwinds. In contrast, auto, media, pharma, oil & gas, and capital goods stocks remained under pressure, shedding between 0.3% and 1%.
TRADE SETUP FOR DEC 19
Nifty Short-Term Outlook:
The index formed a small bull candle with long shadows in either direction signaling consolidation amid high volatility. The index however maintained lower high and lower low highlighting corrective bias.
Nifty on yesterday session rebounded from key support area of 25,700–25,800 being the confluence of the 50-day EMA, last week’s low, and an important retracement level. Index breaching below the support area on closing basis will open further downside toward the 100 days EMA placed around 25,500–25,400 levels.
On the upside, immediate resistance lies near 26,000-26,050 where a trendline from the past two weeks’ highs is placed. A clear move above this level could lift Nifty toward the 26,200–26,300 range.
Intraday Levels:
Nifty: Intraday resistance is at 25,940, followed by 26,050 levels. Conversely, downside support is located at 25,750, followed by 25,670.
Bank Nifty: Intraday resistance is positioned at 59,270, followed by 59,500, while downside support is found at 58,710, followed by 58,500.
Nifty:
The options structure continues to reflect a cautious undertone for the index.
The highest Call OI is positioned at 26,000, followed by 27,000, while the highest Put OI is placed at 25,500, with secondary support at 25,000.
Both call and put writers were active during the session, with call writers building fresh positions at 26,600, indicating overhead supply, while put writers added positions around 25,600, offering near-term support.
Notable call unwinding at 26,150, 26,300, and 27,000 suggests profit booking at higher strikes.
Immediate resistance is placed near 25,900, while strong support is seen around 25,800 on synthetic futures.
Overall, the combination of price action and derivative positioning indicates elevated downside risk if Nifty breaks 25,800 decisively.
Bank Nifty:
Bank Nifty’s derivative setup signals weakening support at higher levels.
The highest Call OI is concentrated at 59,500, while the highest Put OI is at 59,000, marking these as key reference levels.
Call writers remained largely muted during the session, with fresh additions confined to deep OTM strikes such as 62,000 and 62,500, suggesting limited confidence in immediate upside. Meanwhile, put writers unwound positions at 59,500 and 58,000, pointing to a gradual erosion of support.
If Bank Nifty sustains below 59,000 and put unwinding continues, a drift towards the 58,500 zone appears achievable in the near term.
The S&P 500 closed higher on Thursday, driven by a rebound in big tech from the recent selloff as weaker-than-expected consumer inflation data boosted expectations for further interest rates cuts by the Federal Reserve next year.
The Dow Jones Industrial Average rose 65 points, or 0.1%, the S&P 500 index rose 0.8%, and the NASDAQ Composite climbed 1.4%.
U.S. inflation rose by less than expected in November, as the first batch of inflation data was published since the government shutdown ended in mid-November.
The U.S. consumer price index in November rose 2.7% on an annualized basis, a drop from the 3.0% figure announced in September and below the expected 3.1% growth.
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