The Indian benchmark indices, Sensex and Nifty, are likely to see a strong opening on December 12, driven by positive global cues and the performance of the GIFT Nifty. The GIFT Nifty was trading at around 26,147, indicating a gap-up start for the day.
The Indian equity indices snapped a three-day losing streak, with the Nifty closing at 25,900. The Sensex was up 426.86 points or 0.51 percent at 84,818.13, and the Nifty was up 140.55 points or 0.55 percent at 25,898.55.
Asian stocks opened higher, following the record-breaking performance of US shares and the broader gauge of global equities. The S&P 500 and the Dow Jones Industrial Average hit fresh records, thanks to the US Federal Reserve's third consecutive interest-rate cut. The Nasdaq Composite underperformed due to concerns over artificial intelligence bets.
The yield on 10-year treasuries and 2-year Treasury yield was down marginally at 4.14% and 3.52%, respectively. The US dollar headed for its third straight weekly drop, while the euro and sterling reached their highest levels since October.
Oil prices rose on concerns over the US intercepting Venezuelan oil tankers, but remained on track for a weekly decline. Gold and silver edged lower in Asia after rising in the previous session.
Foreign Institutional Investors (FIIs) sold equities worth over Rs 2000 crore on December 11, while Domestic Institutional Investors (DIIs) bought equities worth more than Rs 3700 crore on the same day.
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