Indian equities started Thursday's session (December 12) lower after an in-line consumer inflation print in the US. At the open, Sensex was down 0.05 per cent or 38.49 points, while the Nifty was weak by 0.06 per cent or 15.3 points at 24,626.5. 

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Sectorally, the IT pack led the gains after the tech-heavy Nasdaq Composite hit a record high above 20,000 points. Other sectors including Private banks, Metal and Realty also saw some buying action.

Meanwhile, the PSU Bank, Auto, Consumer Durables and Oil & Gas indices traded in the red.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "The range-bound consolidation construct of the market is set to continue. The bull run in the US is continuing unabated with Nasdaq setting a new record and closing above 20000 yesterday.  The strength of the mother market, which indicates that the global market rally is intact, is a support for other markets, too."

Meanwhile, India’s CPI data, due on Thursday, and Friday's WPI inflation figures are key domestic drivers to watch

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Stocks in focus

Maruti Suzuki: The auto major annpunced that it will expand its service network by adding 2,760 touchpoints by FY 2030-31.On the development, shares of the PV major were trading with a minor cut at Rs 11,244 per share.

Vedanta: The diversified metals company board will meet on December 16 to consider the fourth interim dividend.

Reliance Power: Reliance NU Suntech, a subsidiary of Reliance Power, has bagged India’s largest solar energy and battery energy storage system (BESS) from the Solar Energy Corporation of India (SECI).
 

Technicals

Akshay Chinchalkar, Head of Research, Axis Securities said, "Indecision on the Nifty continues to prevail as resistance at 24700 has held strong. The market has formed a short-term "pennant" with the highs falling and the lows rising, which means the potential for an upside breakout that targets the 24800 - 25000 hurdle zone remains high. Support at 24500 should hold for this view to pan out."

Asian markets

Asian stocks tracking Wall Street's overnight rally post an in-line US inflation reading traded mostly higher. The key MSCI Asia ex Japan index was up 0.8 per cent.