Indian benchmark indices ended with marginal gains on December 11 with Nifty above 24,600. At close, the Sensex was up 16.09 points or 0.02 percent at 81,526.14, and the Nifty was up 31.75 points or 0.13 percent at 24,641.80.

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The markets remained range-bound for the fourth consecutive session, closing with minimal change. After a flat opening, the Nifty climbed in the first half but faced resistance near the 24,700 mark, limiting further gains. Sectoral trends were mixed, with FMCG, auto, and IT posting modest gains, while energy and banking saw slight declines. Notably, broader indices extended their upward momentum, with the small-cap index hitting a fresh record high.

We anticipate the consolidation phase to conclude soon, with the Nifty likely to surpass the 24,800 resistance level. While sectoral participation remains selective, the banking and IT sectors are expected to play a pivotal role in driving the next leg of the rally. Meanwhile, traders are advised to maintain a "buy on dips" strategy, focusing on prudent stock selection.

The range bound action continued in the market for the fourth consecutive sessions on Wednesday and Nifty closed the day higher by 31 points. After opening with a slightly positive note, the market moved into a narrow high low range (around108 points) that lasted for the whole session.

A small positive candle was formed on the daily chart with minor upper shadow. Technically, this pattern indicates a continuation of range bound action in the market. Nifty sustained above the daily 10/20 period EMA and the positive chart pattern like higher highs and lows is intact.

The short-term trend of Nifty continues to be range bound. If Nifty fails to break above the upper range of 24700-24800 levels in the next 1-2 sessions, then one may expect small dip before bouncing back again from the higher lows. Immediate support is at 24500 levels.

The Indian market exhibited subtle movements, reflecting mixed sentiments prevailing in global markets ahead of the US CPI inflation data release, which could influence the FED policy. The US dollar strengthened, while bond yields saw a marginal uptick.

Defensive sectors, including FMCG and pharmaceuticals, experienced an uptick. Additionally, the metals sector saw gains driven by optimism surrounding potential stimulus measures from China.

Indian benchmark indices ended with marginal gains on December 11 with Nifty above 24,600.

At close, the Sensex was up 16.09 points or 0.02 percent at 81,526.14, and the Nifty was up 31.75 points or 0.13 percent at 24,641.80. About 2053 shares advanced, 1772 shares declined, and 109 shares unchanged.

Trent, Bajaj Finance, Britannia Industries, Shriram Finance, Bajaj Finserv were among the top gainers on the Nifty, while losers included JSW Steel, Adani Ports, NTPC, SBI, Axis Bank.

BSE Midcap and smallcap indices rose 0.3 percent each.

On the sectoral front, buying was seen in the auto, FMCG, IT, metal, while PSU Bank index down nearly 1 percent.