Indian shares are set to start the day on a brighter note, thanks to a firm showing from GIFT Nifty.
Why the market could open higher
GIFT Nifty is trading around 26,396.50, pointing to a positive start for the main indices. Traders are watching this as a cue for the Sensex and Nifty.
What happened yesterday
- Both Sensex and Nifty rose to fresh highs early on, but then slipped back in the second half of the session.
- Escalating tension between the U.S. and Venezuela added selling pressure, pulling Nifty down to about 26,250 by the close.
- At the end of the day, Sensex was down 322 points (‑0.38%) at 85,439.62, and Nifty was down 78 points (‑0.30%) at 26,250.30.
Global market cues
Asian stocks opened modestly higher, staying near record levels despite geopolitical worries. In the U.S., the Dow and S&P 500 both ended higher, snapping a four‑day losing streak, helped by gains in chip makers and Boeing.
U.S. Treasury yields ticked up slightly, and the dollar held near a two‑week high after easing concerns over military action in Venezuela.
Commodity snapshot
- Brent crude rose 1.7% to $61.76 per barrel as investors kept an eye on Venezuela.
- Gold stayed flat, while silver inched higher.
Fund flow update
On January 5, foreign institutional investors sold about ₹36 crore of stocks, while domestic institutional investors bought roughly ₹1,764 crore.
Bottom line for traders
With GIFT Nifty pointing up and global markets showing mixed but mostly positive signs, Indian equities could open stronger on Jan 6. Keep an eye on geopolitical developments and fund flows for the next move.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.