Indian stocks look ready for a solid opening on January 5, thanks to a jump in the GIFT Nifty futures.
Morning cue from GIFT Nifty
The GIFT Nifty futures are trading around 26,534 points, suggesting that the main indices could start the day on a positive note.
Recent market performance
On January 2 the Sensex closed up 573 points (0.67%) at 85,762, while the Nifty ended at 26,329, up 0.70%. Both indices hit fresh highs during the session.
Mid‑cap and small‑cap stocks also performed well, with the Nifty Mid‑cap index up 1% and the Nifty Small‑cap index up 0.7%.
Global market snapshot
Asian markets rose, led by technology shares. In the U.S., the Dow and S&P 500 posted gains, ending a four‑day losing streak, while the Nasdaq was roughly flat.
Key U.S. market moves:
- Dow Jones +0.66% (up 319 points)
- S&P 500 +0.19% (up 13 points)
- Nasdaq –0.03% (down 6 points)
Commodity moves
- Crude oil: Brent rose 0.5% after earlier slipping to $60 per barrel.
- Gold: Prices jumped 1.5% to about $4,402 per ounce.
- Silver: Also posted gains alongside gold.
Fund flow update
Foreign Institutional Investors (FIIs) switched back to buying on January 2, adding about ₹289 crore of equity. Domestic Institutional Investors (DIIs) bought roughly ₹677 crore on the same day.
What this means for traders
With the GIFT Nifty pointing higher, Indian equities could open strong. Keep an eye on global cues and commodity prices, as they often influence local market direction.
Remember, this is just an overview, not a prediction. Do your own research and consider your risk tolerance before trading.