Get ready for a potentially volatile trading day as Indian benchmark indices, Sensex and Nifty, are likely to see a flat to negative start. This comes after the GIFT Nifty was trading lower at around 25,863.50, indicating a cautious opening for the day.
Market Trends and Global Cues
The market failed to build on the opening gains and ended on a negative note for the third straight session, amid mixed global markets post sluggish US jobs data, persistent FII outflow, and falling rupee amid delay in the potential India-US trade deal. At close, the Sensex was down 120.21 points or 0.14 percent at 84,559.65, and the Nifty was down 41.55 points or 0.16 percent at 25,818.55.
Global Market Updates
Asian stocks opened lower following US losses as global markets fell into a familiar, risk-off pattern with tech concerns weighing on stocks, and supporting shorter-maturity Treasuries and precious metals. Wall Street's main indexes closed lower on Wednesday, with the S&P 500 and the tech-heavy Nasdaq sinking to three-week lows as nagging worries about the artificial intelligence trade weighed on technology stocks.
- The Dow Jones Industrial Average fell 228.29 points, or 0.47%, to 47,885.97.
- The S&P 500 lost 78.83 points, or 1.16%, to 6,721.43.
- The Nasdaq Composite lost 418.14 points, or 1.81%, to 22,693.32.
Investor Insights
After remaining net sellers for the last 14 sessions, the Foreign Institutional Investors (FIIs) turned net buyers on December 17 as they bought equities of Rs 1171 crore, while Domestic Institutional Investors (DIIs) bought equities of Rs 768 crore on the same day. Remember, this is just a perspective, not a prediction - do your own research before making any investment decisions.
Key Market Indicators
- The yield on 10-year Treasuries and 2-year Treasuries were down 1 basis point to 4.14% and 3.47%, respectively.
- The dollar held gains against its major counterparts on Thursday as markets positioned for central bank decisions in Britain, Europe, and Japan.
- Oil bounced off a recent low against the backdrop of escalating geopolitical risk involving Russia and Venezuela.
- Gold rose, approaching record levels, as investors looked ahead to US inflation data and monitored escalating tensions in Venezuela.