Stock market today: The Indian stock market remains in a cautious consolidation-to-mildly bearish phase, driven by ongoing profit booking, expiry-related positioning, and thin year-end liquidity. Intraday volatility is expected to remain elevated, particularly in the latter half of the session, amid monthly F&O expiry and rollover activity. At the same time, mixed global cues and selective domestic buying continue to keep overall sentiment guarded.
Gold prices on MCX corrected around ₹5,000 and finished at ₹1,34,887 per 10 gm. MCX silver rates finished ₹529 lower at ₹2,23,900 per kg, ₹30,274 down from the new peak of ₹2,54,174 it had made in the early morning dealings on Monday. The primary cryptocurrency, Bitcoin, also witnessed strong profit-booking as its price slipped from ₹78,90,017 to ₹78,35,321, approximately ₹55,000 below its close on Sunday.
Stock market today
Speaking on the outlook of the Nifty 50 index, Nilesh Jain, Head of Technical and Derivatives Research at Centrum Broking, said, “The Nifty extended its decline for the third straight session, forming a pattern of lower highs and lower lows, indicating short-term weakness. The index slipped below its immediate support at the 21-day moving average (DMA) near 26,000, which is now likely to act as resistance. However, it managed to hold above the 50-DMA placed around 25,920, which continues to provide immediate support. With the December series monthly F&O expiry approaching, market volatility is expected to remain elevated, and the Nifty is likely to trade in a range of 25,800–26,100. Meanwhile, the volatility index, INDIA VIX, saw a sharp rise of 7% to 9.70; any further increase could be a cause for concern.”
On the outlook of the Bank Nifty index, Hrishikesh Yedve, AVP Technical & Derivative Research at Asit C Mehta, said, “The Bank Nifty index opened on a flat note, witnessed volatility on both sides, and settled on a negative note at 58,932. Technically, on the daily chart, Bank Nifty has formed a small red candle with shadows on either side, indicating short-term uncertainty. On the upside, 59,800 and 60,115 will act as short-term hurdles, while the 58,700–58,800 zone will act as a demand area. Therefore, short-term traders are advised to adopt a buy-near-support and sell-near-resistance approach.”
Gold rate today
Asked about the outlook of gold price after strong selling on Monday, Jateen Trivedi, VP Research Analyst — Commodity & Currency at LKP Securities, said, “Gold traded weak with a decline of around ₹1,500 to ₹1,38,300 on MCX, while COMEX gold slipped by nearly $70 to $4,463 amid high volatility. Profit booking emerged after COMEX failed to sustain above the $4,550 zone, while ₹1,40,500 acted as a resistance area in MCX. The broader trend remains volatile as markets reassess positions after the recent sharp rally. This week, the Federal Reserve’s meeting minutes will be a key trigger, while the US holiday period could keep trading volumes relatively thin. Gold is expected to remain volatile in the range of ₹1,35,000 to ₹1,42,000 in the near term.”
Silver rates today
Decoding the recent rally in silver prices and strong selling on Monday, Sugandha Sachdeva, Founder of SS WealthStreet, said, “The recent surge in silver prices marks a structural inflexion point, not a speculative spike. What we are witnessing is a global repricing of silver, driven by physical scarcity, accelerating industrial demand, monetary dilution, and a decisive shift in price discovery to the East. The rally is being led not by paper futures markets, but by real-world demand for deliverable metal, with Asia, particularly China, at the epicentre. During the Christmas holiday period, when Western benchmark markets such as COMEX and LBMA were closed, silver prices continued to trade actively in Asia.”
“The result was a striking divergence: physical silver in Shanghai surged close to USD 82, while COMEX prices were trading significantly lower. It highlights a growing disconnect between paper-based price discovery and the real conditions of physical supply and demand. When Western markets went offline, the physical market spoke clearly, Silver is scarce, inventories are depleted, and buyers are willing to pay a substantial premium for immediate delivery,” Sugandha added.
USD vs INR
Speaking on the outlook of the Indian National Rupee (INR) against the US Dollar (USD), Jateen Trivedi of LKP Securities, said, “The rupee traded in a weak range near the 90 mark as the U.S. holiday season kept the dollar index subdued. Near-term movement will largely depend on commodity prices and FII activity. The Fed meeting minutes, released later this week, will be closely watched for directional cues. The rupee is expected to trade in a 89.45–90.40 range.”
Stocks to buy today
Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: Graphite India, SCI, AU Small Finance Bank, BSE, Federal Bank, RateGain, Zaggle Prepaid, and URGO Capital.
Sumeet Bagadia’s stock recommendations today
1] Graphite India: Buy at ₹602, Target ₹646, Stop Loss ₹580; and
2] SCI: Buy at ₹234, Target ₹250, Stop Loss ₹226.
Ganesh Dongre’s shares to buy today
3] AU Small Finance Bank: Buy at ₹988, Target ₹1020, Stop Loss ₹970;
4] BSE: Buy at ₹2625, Target ₹2750, Stop Loss ₹2570; and
5] Federal Bank: Buy at ₹262, Target ₹270, Stop Loss ₹252.
Shiju Kuthupalakkal’s buy or sell stocks
6] RateGain: Buy at ₹667.45, Target ₹705, Stop Loss ₹652;
7] Zaggle Prepaid: Buy at ₹360, Target ₹384, Stop Loss ₹350; and
8] URGO Capital: Buy at ₹180, Target ₹194, Stop Loss ₹176.
Key Takeaways
- Market volatility is expected to remain elevated due to monthly F&O expiry and global cues.
- Gold and silver prices are experiencing significant fluctuations, influenced by profit booking and real-world demand.
- Investors should be cautious and consider recommended stocks for potential intraday gains amid current market conditions.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.