Indian investors can expect a calm start to the market on Dec 29, with the GIFT Nifty holding around 26,099 and pointing to a flat‑to‑positive opening.
What the GIFT Nifty shows
The GIFT Nifty, a pre‑market indicator, is trading flat at about 26,099. This suggests the main indices – the Sensex and Nifty – are likely to open without big swings, but with a slight upward bias.
Recent moves in the Sensex and Nifty
On Dec 26 the Sensex fell 367 points (‑0.43%) to 85,041, while the Nifty dropped 100 points (‑0.38%) to 26,042, marking a second straight losing day.
Global market cues
- Asian stocks: Reached six‑week highs, helped by a weaker dollar and expectations of a Fed rate cut next year.
- U.S. markets: Ended the post‑Christmas session almost unchanged, with the Dow down 0.04%, S&P 500 down 0.03%, and Nasdaq down 0.09%.
- Commodities: Oil prices rose modestly, gold slipped after hitting record highs, and silver fell back after a brief surge.
Bond yields and the dollar
U.S. 10‑year Treasury yields stayed around 4.12%, while the 2‑year stayed near 3.48%. The dollar index dipped 0.1% to 97.98.
Asian currencies and oil
Most Asian currencies were stronger, led by the South Korean won, followed by the Japanese yen, Philippine peso, and Singapore dollar. Crude oil prices edged higher.
Fund flow snapshot
Foreign Institutional Investors sold about ₹317 crore of Indian stocks on Dec 26, whereas Domestic Institutional Investors bought roughly ₹1,772 crore on the same day.
Takeaway for traders
With the GIFT Nifty flat and global cues relatively calm, today’s Indian market may open steady, offering a low‑volatility environment for cautious traders.
Remember, this is my view, not a prediction. Do your own research before making any investment decisions.