Stock market today: Gift Nifty down 62 points; key levels for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 62.10 points, or 0.24 per cent, down at 26,111, hinting at a negative start for the domestic market on Friday.
- Dec 26, 2025,
- Updated Dec 26, 2025 8:31 AM IST
India's equity benchmarks were poised to open on a muted note near record highs on Friday in thin year-end trading volumes, with analysts saying further upside dependent on earnings momentum. Year-end book squaring is a process where financial institutions, such as banks and investment firms, close out or rebalance their positions to tidy up books.
Nifty futures on the NSE International Exchange traded 62.10 points, or 0.24 per cent, down at 26,111, hinting at a negative start for the domestic market on Friday. However, Asian stocks moved higher. Nikkei and KOSPI surged nearly a per cent, while Hang Seng edged marginally up.
"Investors shall track the US Jobless claims data. Overall, we expect Indian equities to trade in a narrow range this week amid lack of triggers and reduced trading activity due to holidays across several global markets," said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
US stocks ended higher on Wednesday as the Dow Industrials and S&P 500 registered record closing highs in a broad rally during a holiday-shortened session. The Dow Jones Industrial Average rose 288.75 points, or 0.60 per cent, to 48,731.16, the S&P 500 gained 22.26 points, or 0.32 per cent, to 6,932.05 and the Nasdaq Composite advanced 51.46 points, or 0.22 per cent, to 23,613.31.
The Indian rupee is expected to open nearly flat on Friday, tracking muted moves in regional currencies, with traders expecting the currency to remain range bound around the 90-handle heading into year-end. Asian currencies were flat to modestly higher, while the dollar index hovered little changed at 97.9.
Oil prices climbed on Friday after the US ordered increased economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of Nigeria's government. Brent crude futures rose 24 cents, or 0.4 per cent, to $62.48 per barrel, while US West Texas Intermediate crude was up 23 cents, 0.4 per cent, at $58.58.
Among precious metals, Gold prices surged to a record high in early Asian trading on Friday, buoyed by safe-haven demand and rising expectations of further interest rate cuts by the US Federal Reserve. Spot silver climbed to $75 an ounce on Friday, supported by robust industrial and investment demand, tightening inventories, geopolitical tensions and rate cut expectations.
Ajit Mishra, SVP of Research at Religare Broking maintains a positive bias amid the ongoing consolidation in the index and continues to recommend a 'buy-on-dips' approach. He advised participants to adopt a stock-specific approach, focus on sectors showing consistent outperformance and adhere to disciplined risk management in the low-volume environment.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,721.26 crore on Wednesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,381.34 crore on a net-net basis.
Nifty50 & Sensex outlook
The intraday market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. On the higher side, 26,250/85,750 remains the crucial resistance zone for the bulls, whereas 26,100/85,300 would be the immediate support area, said Shrikant Chouhan of Head Equity Research at Kotak Securities.
"On the higher side, above 26,250/85,750, the market could move up to 26,350-26,400/86,000-86,200, while below 26,100/85,300, the chances of hitting 26,000/85,000 would increase, he adds.
A small negative candle was formed on the daily chart with a long upper shadow. Technically, the market action of the last two sessions signal breather in the market after a stellar rise from the lows, which could be an uptrend continuation pattern, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"The present lackluster movement in the market could be short lived and the Nifty could bounce back sharply from the lows in the near term. Immediate support is placed at 26,000 levels and the upside resistance to be watched around 26,300," he added.
Nifty Bank outlook
Nifty Bank is seen consolidating in a range amid stock-specific action. It is likely to extend consolidation and form a base in the range of 58500-60100 in the coming weeks. A strength above last week’s high of 59,533 will open upside towards the recent all time high of 60,100 levels in the coming weeks, said Bajaj Broking.
"The entire up move of the last 2 months is well channelled signalling sustained demand at elevated levels. Key support is placed at 58,300-58,600 levels, being the confluence of the 50 days EMA and recent breakout area," it adds.
59,000-58,900 will act as an immediate support for Nifty Bank. Any sustainable move below the 58,900 level can lead Index moving down till 58,600 followed by 58,300 level in the short term, said Sudeep Shah, Vice President of Technical and Derivatives Research at SBI Securities. "While on the upside, the zone of 59,500-59,600 will act as a strong resistance," he said.
India's equity benchmarks were poised to open on a muted note near record highs on Friday in thin year-end trading volumes, with analysts saying further upside dependent on earnings momentum. Year-end book squaring is a process where financial institutions, such as banks and investment firms, close out or rebalance their positions to tidy up books.
Nifty futures on the NSE International Exchange traded 62.10 points, or 0.24 per cent, down at 26,111, hinting at a negative start for the domestic market on Friday. However, Asian stocks moved higher. Nikkei and KOSPI surged nearly a per cent, while Hang Seng edged marginally up.
"Investors shall track the US Jobless claims data. Overall, we expect Indian equities to trade in a narrow range this week amid lack of triggers and reduced trading activity due to holidays across several global markets," said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
US stocks ended higher on Wednesday as the Dow Industrials and S&P 500 registered record closing highs in a broad rally during a holiday-shortened session. The Dow Jones Industrial Average rose 288.75 points, or 0.60 per cent, to 48,731.16, the S&P 500 gained 22.26 points, or 0.32 per cent, to 6,932.05 and the Nasdaq Composite advanced 51.46 points, or 0.22 per cent, to 23,613.31.
The Indian rupee is expected to open nearly flat on Friday, tracking muted moves in regional currencies, with traders expecting the currency to remain range bound around the 90-handle heading into year-end. Asian currencies were flat to modestly higher, while the dollar index hovered little changed at 97.9.
Oil prices climbed on Friday after the US ordered increased economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of Nigeria's government. Brent crude futures rose 24 cents, or 0.4 per cent, to $62.48 per barrel, while US West Texas Intermediate crude was up 23 cents, 0.4 per cent, at $58.58.
Among precious metals, Gold prices surged to a record high in early Asian trading on Friday, buoyed by safe-haven demand and rising expectations of further interest rate cuts by the US Federal Reserve. Spot silver climbed to $75 an ounce on Friday, supported by robust industrial and investment demand, tightening inventories, geopolitical tensions and rate cut expectations.
Ajit Mishra, SVP of Research at Religare Broking maintains a positive bias amid the ongoing consolidation in the index and continues to recommend a 'buy-on-dips' approach. He advised participants to adopt a stock-specific approach, focus on sectors showing consistent outperformance and adhere to disciplined risk management in the low-volume environment.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,721.26 crore on Wednesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,381.34 crore on a net-net basis.
Nifty50 & Sensex outlook
The intraday market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. On the higher side, 26,250/85,750 remains the crucial resistance zone for the bulls, whereas 26,100/85,300 would be the immediate support area, said Shrikant Chouhan of Head Equity Research at Kotak Securities.
"On the higher side, above 26,250/85,750, the market could move up to 26,350-26,400/86,000-86,200, while below 26,100/85,300, the chances of hitting 26,000/85,000 would increase, he adds.
A small negative candle was formed on the daily chart with a long upper shadow. Technically, the market action of the last two sessions signal breather in the market after a stellar rise from the lows, which could be an uptrend continuation pattern, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"The present lackluster movement in the market could be short lived and the Nifty could bounce back sharply from the lows in the near term. Immediate support is placed at 26,000 levels and the upside resistance to be watched around 26,300," he added.
Nifty Bank outlook
Nifty Bank is seen consolidating in a range amid stock-specific action. It is likely to extend consolidation and form a base in the range of 58500-60100 in the coming weeks. A strength above last week’s high of 59,533 will open upside towards the recent all time high of 60,100 levels in the coming weeks, said Bajaj Broking.
"The entire up move of the last 2 months is well channelled signalling sustained demand at elevated levels. Key support is placed at 58,300-58,600 levels, being the confluence of the 50 days EMA and recent breakout area," it adds.
59,000-58,900 will act as an immediate support for Nifty Bank. Any sustainable move below the 58,900 level can lead Index moving down till 58,600 followed by 58,300 level in the short term, said Sudeep Shah, Vice President of Technical and Derivatives Research at SBI Securities. "While on the upside, the zone of 59,500-59,600 will act as a strong resistance," he said.