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Eternal Ltd shares fell over 1.5%, extending their decline from recent highs, as profit-taking and broader market weakness weighed on the stock, despite analysts maintaining a positive outlook on the company’s market position.
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New Delhi: On December 30, the Nifty 50 slipped below the 25,900 mark amid weak global cues and heightened investor caution.
Eternal Ltd shares fell over 1.5%, extending their decline from recent highs, as profit-taking and broader market weakness weighed on the stock, despite analysts maintaining a positive outlook on the company’s market position.
The final monthly expiry of 2025 is here, but the Santa cheer on Dalal Street has been missing over the last three sessions, with the Nifty slowly grinding down to the lower end of the range it has found itself stuck in over the last two months.
The Nifty begins the penultimate trading session of 2025 with an aim to reclaim the 26,000 mark, which it could not defend on Monday.
From the November 7 low of 25,318 and the recent record high on the Nifty of 26,325, the 50% retracement of that range comes up to 25,821, which many technical analysts are also expecting the Nifty to tumble towards before any further buying interest emerges.
The Nifty Bank has managed to defend a key level but will look to reclaim the mark of 59,000 on the upside as well.
Activity in the broader markets will remain stock-specific, with HZL and Hind Copper in focus yet again after the precious metals saw a sharp sell-off overnight.
