Nifty, Sensex climb amid mixed trends; Tata Steel, NTPC among major gainers

• Equity benchmark indices remained flat amid mixed trends from Asian markets.
• The 30-share BSE Sensex climbed 87.6 points to 71,194.56 in early trade. The Nifty went up by 40.25 points to 21,389.65.
• The market is projected to stay range bound in the final week of the current calendar year.

Equity benchmark indices, the Nifty and the Sensex, climbed in early trade on Tuesday in volatile trade amid mixed trends from Asian markets and due to lack of any major immediate trigger.

The 30-share BSE Sensex climbed 87.6 points to 71,194.56 in early trade. The Nifty went up by 40.25 points to 21,389.65. However, later both the benchmark indices turned flat in a highly volatile trade.

Among the Sensex firms, NTPC, Tata Steel, Power Grid, Mahindra & Mahindra, Larsen & Toubro and State Bank of India were the major gainers.

Wipro, Infosys, HCL Technologies, Tech Mahindra, Tata Consultancy Services and Maruti were among the laggards.

"The market is projected to stay range bound in the final week of the current calendar year, with the Nifty 50 encountering resistance in the 21,500-21,600 range and finding immediate support in the 21,300-21,200 range. A significant break of 21,600 can drive the index to 21,800 levels, while a break of the same support can drag it to 21,000 levels. Hence short term or intraday traders have the opportunity to trade on both the sides where Nifty can be purchased near to support levels and profits can be booked near to resistance levels," said Deven Mehata, Equity Research Analyst, Choice Broking.

In Asian markets, Seoul quoted with gains while Tokyo and Shanghai traded lower.

The US markets ended on a mixed note on Friday. Global oil benchmark Brent crude climbed 0.04% to USD 79.07 a barrel.

"The global rally in December led by the mother market US has lifted most markets significantly and India was fortunate to have the lift from the state election results too. The 6% rally in Nifty in December has heated up the market a bit and the bulls are likely to wait for the New Year for further action," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Equity markets were closed on Monday for Christmas.

Foreign institutional investors (FIIs) net sold shares worth ₹2,828.94 crore, while domestic institutional investors (DIIs) bought ₹2,166.72 crore worth of stocks on December 22, provisional data from the National Stock Exchange (NSE) showed.

The BSE benchmark climbed 241.86 points or 0.34% to settle at 71,106.96 on Friday. The Nifty went up by 94.35 points or 0.44% to 21,349.40.

With inputs from PTI.

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