A morning walk down Dalal Street | Breach of 200-DMA around 10,750 could fuel selling pressure

On the weekly basis, the S&P BSE Sensex rose 0.8 percent while the Nifty50 witnessed a rise of 1.05 percent. Broader market outperformed as the BSE Midcap index rose 3.2 percent while the S&P BSE Small-cap index closed 2.8 percent higher.

Let’s see how the final tally looked like for D-Street on Friday – the S&P BSE Sensex rose 33 points to close at 35,962 while the Nifty50 ended 13 points higher at 10,805. 

Sectorally, PSU, oil & gas, and telecom stocks rose 1-3 percent while profit taking was seen in consumer durable and healthcare stocks. 

Trading volume is expected to reduce for the next couple of weeks, especially after the Federal Reserve policy meeting and Christmas and New Year vacation. 

One crucial event which is lined up for this week is the US Fed meeting which will begin from December 18. Analysts largely expect the Fed to raise its benchmark interest rate by 25 bps to between 2.25 percent and 2.5 percent, but are cautious about rate hikes in 2019, considering the potential slowdown in economic growth.