December 4, Mumbai (Maharashtra) [India]: Following the lead of international markets, Indian markets began flat on Wednesday, although the rising trend is still present.

The BSE Sensex index began at 80,911.71 points, up 65.96 points, or 0.08 percent, while the National Stock Exchange’s Nifty 50 index opened at 24,475.50 points, up 18.35 points, or 0.08 percent.

The markets are expected to do well in December, according to experts, and international investors are beginning to purchase. Nonetheless, geopolitical developments still have an immediate impact on the markets.

The previous three days have seen a significant rally in Indian markets, according to Ajay Bagga, a banking and market expert. Tuesday’s FPI flows were positive. This morning, the world happenings are a cloud. Korean drama about martial rule, demonstrations, and its end. In CY2024, US markets reached their 55th peak ever, setting a record that dates back to 1929. Overall, December seasonality favors a Santa Claus rally in India, despite the fact that Indian futures are pointing to a subdued start. “Buy in dips” has replaced “sell on every rise” as the prevailing sentiment.

All of the sectoral indexes on the NSE started in the green, with the exception of Nifty Media and Nifty Pharma. 33 companies rose and 17 stocks fell on the Nifty 50 list. In the beginning, BEL was the biggest gainer, followed by NTPC, HDFC Life, and SBI Life.

The nifty’s rise yesterday triggered a head-and-shoulders bottom that aims to hit a barrier in the 24600–24800 range right away, with a bigger goal of 25500. The immediate support on the downside is 24240, which is followed by 24000. Interestingly, the proportion of NSE 500 stocks above the 200 dma has risen to 59%, the highest level since early November. Akshay Chinchalkar, Head of Research at Axis Securities, said that a more bullish push for equities would be triggered if it were to surpass 64%.

After three days of gains, the local market is still robust due to strong global signals and a small improvement in the mindset of foreign institutional investors (FIIs), as seen by Tuesday’s net FII purchase of Rs 3,664.67 crore. On the other hand, shares valued at Rs 250.99 crore were net sold by Domestic Institutional Investors (DIIs).

Following the imposition of martial rule in the nation, South Korea’s KOSPI index fell 1.83 percent in other Asian markets. Taiwan’s Weighted index increased by 0.54%, Hong Kong’s Hang Seng index increased by 0.15 percent, while Japan’s Nikkei 225 index down slightly by 0.18 percent.