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Indian Markets Halt Rally Amid Profit Booking
23 Dec
Summary
- Equity benchmarks closed flat, ending a two-day rally.
- Investors show caution due to mixed global cues and upcoming earnings.
- Volatility index recorded its lowest-ever close on Tuesday.
Indian equity benchmarks concluded Tuesday's trading session flat, snapping a two-day rally as markets navigated a narrow range amidst profit-booking and mixed global signals. The trading week, shortened by a holiday on December 25, saw investors adopting a cautious stance.
Analysts noted that while improving domestic demand offers underlying support, global trade uncertainties and currency fluctuations continue to influence sentiment. Key US macroeconomic data releases are also being closely monitored. The market is anticipated to resume its uptrend following a period of consolidation.
The volatility index, India VIX, experienced a significant decline, marking its lowest-ever close and underscoring reduced market volatility and growing trader complacency. Sectoral performance was mixed, with media, metals, and energy stocks showing positive momentum, while IT, pharma, and PSU banks faced selling pressure.
