India’s benchmark indexes set to open little changed

India’s benchmark indexes are set for a muted start on Tuesday, the final session of 2024, tracking other Asian peers, as elevated U.S. Treasury yields continue to weigh on emerging markets.The GIFT Nifty futures were trading at 23,663.5 as of 7:48 a.m. IST, indicating that the benchmark Nifty 50, would open near Monday’s close of 23,644.9.India’s benchmark indexes fell on Monday, led by bank stocks, as elevated U.S. Treasury yields and prospects of fewer U.S. rate cuts in 2025 spurred foreign outflows and weighed on sentiment. Indian shares close down So far this year, the Nifty and Sensex have gained about 8.8% and 8.3%, respectively, well below the roughly 20% jump last year as a moderation in corporate earnings and sustained foreign selling in the last quarter weighed on markets.Other Asian markets opened lower on the day, with the MSCI Asia ex-Japan index, shedding 0.2%.Foreign institutional investors (FII) remained net sellers for the tenth session in a row on Monday, offloading shares worth 240.45 billion rupees (about $2.8 billion) over the period.Domestic institutional investors (DII), on the other hand, have been net buyers for the last nine sessions.

India’s benchmark indexes are set for a muted start on Tuesday, the final session of 2024, tracking other Asian peers, as elevated U.S. Treasury yields continue to weigh on emerging markets.

The GIFT Nifty futures were trading at 23,663.5 as of 7:48 a.m.

IST, indicating that the benchmark Nifty 50, would open near Monday’s close of 23,644.9. India’s benchmark indexes fell on Monday, led by bank stocks, as elevated U.

S. Treasury yields and prospects of fewer U.S.

rate cuts in 2025 spurred foreign outflows and weighed on sentiment. Indian shares close down So far this year, the Nifty and Sensex have gained about 8.8% and 8.

3%, respectively, well below the roughly 20% jump last year as a moderation in corporate earnings and sustained foreign selling in the last quarter weighed on markets. Other Asian markets opened lower on the day, with the MSCI Asia ex-Japan index, shedding 0.2%.

Foreign institutional investors (FII) remained net sellers for the tenth session in a row on Monday, offloading shares worth 240.45 billion rupees (about $2.8 billion) over the period.

Domestic institutional investors (DII), on the other hand, have been net buyers for the last nine sessions..