The Indian stock market is expected to open higher today, with the Sensex and Nifty indices likely to gap-up due to positive cues from the GIFT Nifty, which is trading at around 25,950.50.
On December 10, the benchmark indices ended lower, with the Sensex down 275.01 points or 0.32% at 84,391.27, and the Nifty down 81.65 points or 0.32% at 25,758.
Asian equities are following the gains on Wall Street, where the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closed higher after the Federal Reserve cut interest rates by a quarter percentage point. The Federal Reserve Chair Jerome Powell expressed optimism that the US economy will strengthen as the inflationary impact from tariffs fades away.
The yield on 10-year treasuries shed one basis point to 4.13%, while the 2-year Treasury yield was down marginally at 3.53%. The dollar fell after the Federal Reserve delivered an outlook that was not as hawkish as some had anticipated.
Oil prices extended their advance after the US seized a sanctioned tanker off Venezuela, deterring more shipments from the South American producer and raising the risk of a conflict. Gold and Silver also held gains after the US Federal Reserve delivered a widely expected third straight interest-rate cut.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1651 crore on December 10, while Domestic Institutional Investors (DIIs) purchased equities of more than Rs 3752 crore on the same day.
We wish you a profitable day ahead, with the Indian stock market expected to open higher today. Stay tuned for the latest updates on the Sensex, Nifty, and other stock market trends.
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