Nifty ended 35 points lower
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 24 December 2025: Today, the benchmark indices witnessed selling pressure at higher levels. The Nifty ended 35 points lower, while the Sensex was down by 116 points. Among sectors, buying was seen in selective financial stocks, while the Capital Market Index shed nearly 1 percent. Technically, after an early morning intraday rally, the market once again faced resistance near 26,250/85750 and reversed sharply. From the day's highest point, the market shed over 100/350 points.
We believe that the intraday market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. On the higher side, 26,250/85750 remains the crucial resistance zone for the bulls, whereas 26,100/85300 would be the immediate support area. On the higher side, above 26,250/85750, the market could move up to 26,350-26,400/86000-86200, while below 26,100/85300, the chances of hitting 26,000/85000 would increase.
Gaurav Garg, Research Analyst Lemonn Markets Desk, adds:
Benchmark equity indices Sensex and Nifty ended marginally lower on Wednesday after slipping from their intraday highs, as profit-booking in select sectors and continued selling by foreign institutional investors (FIIs) capped the upside.
FII activity remained a drag on sentiment. Foreign institutional investors sold equities worth ₹1,794.80 crore on Tuesday, marking the second consecutive session of outflows after a brief buying phase earlier in the week. Persistent FII selling continues to limit aggressive upside in the market.
Sector-wise, profit-booking was visible in IT, pharma, and oil & gas stocks. Sun Pharmaceutical Industries and Dr Reddy’s Laboratories were among the major laggards, declining up to 1 percent. IT stocks underperformed for the second straight session after the US administration announced changes to the H-1B visa framework. Under the revised system, visas will be allocated based on wage levels and skill prioritisation rather than a pure lottery, raising concerns over hiring costs and workforce flexibility for Indian IT companies. Coforge and Tech Mahindra were among the notable IT stocks that saw selling pressure, extending losses after four sessions of gains earlier.
Technically, the market remains in a consolidation phase. Note that the 26,100 level continues to act as a crucial support for the Nifty. Holding above this zone keeps the possibility of a fresh upswing intact, with 26,300–26,100 forming the near-term trading range. However, the formation of a doji on the daily chart suggests sideways movement in the immediate term, with a decisive breakout needed to signal the next directional move.
Overall, markets appear to be digesting recent gains near record highs, with stock-specific action dominating and investors closely tracking FII flows, global cues, and policy-related developments.
