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Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday following weakness in global markets. Asian markets declined, while the US stock market ended sharply lower overnight amid selling in technology stocks. On Monday, the Indian stock market benchmark indices ended over half a percent lower each, snapping a two-day winning run.
The Sensex declined 450.94 points, or 0.57%, to close at 78,248.
13, while the Nifty 50 settled 168.50 points, or 0.71%, lower at 23,644.
90. “Domestic markets are anticipated to remain range bound in the near term. For the calendar year 2025, we expect consolidation to continue in the first half, while the second half could see a recovery on the back of enhanced government spending and improved corporate earnings,” said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today: Asian Markets Asian markets traded lower on Tuesday tracking overnight losses on Wall Street, while investors await China’s manufacturing PMI for December. Japan and South Korea’s stock markets are closed for the New Year’s Eve holiday. Australian stocks fell about 0.
7%, while Hong Kong’s Hang Seng index futures indicated a lower opening. Gift Nifty Today Gift Nifty was trading around 23,655 level, a discount of nearly 160 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices. Wall Street US stock market ended lower on Monday in light volume trade on the penultimate trading day of an eventful year in which all three indexes posted strong double-digit gains.
The Dow Jones Industrial Average declined 418.48 points, or 0.97%, to 42,573.
73, while the S&P 500 dropped 63.90 points, or 1.07%, to 5,906.
94. The Nasdaq Composite closed 235.25 points, or 1.
19%, lower at 19,486.79. Boeing shares fell 1.
6%, while Crypto stocks including MicroStrategy Coinbase and MARA Holdings tumbled from 3.8% to 8.2% US Pending Home Sales Contracts to buy US previously owned homes rose more than expected in November, notching a fourth straight month of gains.
The National Association of Realtors (NAR) said its Pending Home Sales Index, based on signed contracts, rose 2.2% last month to 79.0 - the highest since February 2023 - from 77.
3 in October. Economists polled by Reuters had forecast contracts would rise 0.9% after increasing 1.
8% in October. Pending home sales rose 6.9% from a year earlier.
RBI Report The Reserve Bank of India said asset quality of banks improved further and their gross non-performing assets (GNPA) ratio declined to a 12-year low of 2.6% in September 2024 on the back of falling slippages and steady credit demand. The RBI also flagged concern over a sharp rise in write-offs, especially among private sector banks, which could be partly masking worsening asset quality in the unsecured lending segment and dilution in underwriting standards, according to the RBI’s December 2024 issue of the Financial Stability Report (FSR).
US Dollar The US dollar was firm on the last trading day of the year, poised to clock strong gains in 2024. The dollar index , which measures the US currency versus six other major units, was at 108.06, not far from the two-year high it touched this month.
The index has risen 6.6% in 2024. The Japanese yen was at 157.
02 per dollar, on course for a 10% drop in 2024, its fourth straight year of decline against the dollar. Euro was steady at $1.04025, while Sterling was little changed at $1.
2545, on course for a 1% fall in 2024. Gold Prices Gold prices traded flat, while the yellow metal posted its best annual performance in more than a decade. Spot gold prices were flat at $2,606.
07 per ounce, while US gold futures gained 0.1% to $2,619.90.
(With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions..
