Share Market Updates: Sensex, Nifty end December series on a flat note; IT stocks shine

Benchmark indices ended the December series on a flat note today. Sensex closed 12 points lower at 57,794.32, and Nifty ended 9.65 points lower at 17,203.95.
 
NTPC was the top Sensex gainer, rising 3 per cent, followed by HCL Tech, Titan, IndusInd Bank and Wipro.
 
Tata Steel and Reliance Industries were the top Sensex losers falling up to 2 per cent. BSE mid-cap declined 54 points to end at 24,630.81 and BSE small-cap rose 55 points to end at 29,121, respectively.
 
“Benchmark Indices ended on a flat note today with Nifty at 17204 and Sensex at 57794. In today’s choppy session, good buying interest was seen in selected IT and pharma stocks while some selling pressure was seen in metal and real estate names. Strong buying was seen in graphite twins with Graphite India closing up +19 per cent and HEG closing up +13 per cent today. RBL bank tanks 9 per cent and Adani Green plunges 6 per cent today,” Mohit Nigam, Head – PMS, Hem Securities told BusinessToday.In.
 
He noted that overall global markets traded mixed as investors were uncertain about the consequences of surging Covid-19 cases in different parts of the world.
 
“On the technical front, the overall structure looks positive for Nifty 50 as it manages to sustain above 17,200 level on a closing basis which is a positive sign for the index technically. We believe we can witness a 200-300 points rally from here in the near term. 17,000 and 17,400 are immediate support and resistance in Nifty. For Bank Nifty, 34500 and 35500 are immediate support and resistance,” he added.
 
On Wednesday, the benchmark indices snapped two days of gaining streak due to profit booking in HDFC Bank, SBI and ITC. Sensex ended 90.99 points lower at 57,806.49 in volatile trade. Similarly, Nifty fell 19.65 points to 17,213.60.
 
Elsewhere in Asia, bourses in Shanghai and Hong Kong ended with gains, while Seoul and Tokyo were in the red.
 
Stock exchanges in Europe were trading on a mixed note in mid-session deals.
 
Meanwhile, international oil benchmark Brent crude declined 0.68 per cent to $78.69 per barrel.
 
Foreign institutional investors (FIIs) sold shares worth Rs 975.23 crore on December 29, and domestic institutional investors (DIIs) bought shares worth Rs 1,006.93 crore, as per provisional data available on NSE.