Nifty holds narrow range, Doji Candle signals investor indecision; key levels and updates for Thursday

Nifty formed a Doji candle in its recent trading session, signaling indecision in the index, according to Dr. Praveen Dwarakanath, Vice President at Hedged.in. This suggests a wait-and-see approach for investors as the market digests its current range. Indian stock markets remained range-bound on December 11, 2024, with the Nifty closing 31.75 points higher (0.13%) at 24,641.80, ending its three-day losing streak. Meanwhile, the S&P BSE Sensex barely moved, adding just 16 points to settle at 81,526.14. Banking stocks exerted pressure on the market, but gains in the IT, auto, and FMCG sectors helped offset the losses.

Despite staying within a narrow range, Nifty remained above its short-term moving averages, signaling a positive trend. A decisive break above the 24,700 level could pave the way for a move toward 25,000. On the downside, 24,500 serves as immediate support.

FPIs Increasing Participation in Indian Markets: SMC Global

Foreign portfolio investors (FPIs) are showing increasing interest in Indian equity and derivative markets, with new traders from tier-3 and tier-4 cities expected to significantly impact domestic markets. SMC Global's CEO, Ajay Garg, highlighted FPIs' confidence in India's economic growth, projecting a substantial rise in trading volumes over the next five years.

BEML Secures Rs 136-Crore Defence Contract

BEML Ltd. has secured a Rs 136-crore contract from the Ministry of Defence for high-mobility vehicles, leading to a more than 2% rise in its stock price.

India Bond Yields Edge Up Ahead of Inflation Data

Indian bond yields saw a slight increase as traders awaited inflation data from both India and the U.S. The 10-year yield closed at 6.7171%, up from 6.7073%.

Samman Capital to Raise Rs 2,500 Crore via QIP

Samman Capital's board has approved a fundraise of up to Rs 2,500 crore via a Qualified Institutional Placement (QIP).