Indian Market Outlook
The Indian stock market, including the Sensex and Nifty, is expected to start the day on a weak note, influenced by the GIFT Nifty trading lower at around 26,044.
Previous Session Recap
In the previous session, the Nifty 50 rose 0.57% to 26,046.95, while the BSE Sensex added 0.53% to 85,267.66. However, the indexes logged a 0.5% weekly fall due to investors booking profits near record highs.
Key Sectors and Global Trends
The metals sector led the charge, climbing 2.6%, driven by demand optimism after top consumer China pledged a fiscal boost for 2026 and the Fed cut interest rates. Meanwhile, Asian markets opened lower, with concerns over the earnings outlook for technology companies and their massive spending on AI affecting risk sentiment.
Global Market Performance
- The S&P 500 and the Nasdaq closed down more than 1% on Friday, with investors shifting away from technology stocks.
- The Nasdaq Composite lost 398.69 points, or 1.69%, to 23,195.17, while the S&P 500 lost 73.59 points, or 1.07%, to 6,827.41.
- The Dow Jones Industrial Average fell 245.96 points, or 0.51%, but managed to show a weekly gain of 1.05%.
Currency and Commodity Updates
The dollar traded in a tight range against major peers, while the Japanese Yen, Singapore Dollar, Philippines Peso, Thai Baht, and Taiwan Dollar were down marginally. In contrast, the Indonesian Rupiah, China Renminbi, South Korean Won, and Malaysian Ringgit saw marginal gains.
Oil prices rose, recouping part of last week's 4% slide, due to concerns over potential disruptions from escalating U.S.-Venezuela tensions. Gold steadied following four days of gains, after conflicting remarks from Fed officials prompted traders to curb bets on further monetary easing in the US next year.
Investor Activity
Foreign Institutional Investors (FIIs) offloaded equities of Rs 1114 crore on December 12, while Domestic Institutional Investors (DIIs) purchased equities of Rs 3868 crore on the same day.
We hope this update helps you navigate today's trade. Wishing you a profitable day ahead!