Sensex, Nifty Today: Gift Nifty signals flat to lower opening for Indian stock market

Sensex, Nifty Today: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat but in the red on Wednesday, December 17, after two straight sessions of losses.

The trends on Gift Nifty point to a muted start for the domestic market. Gift Nifty was trading near the 25,922 level, down 0.12 per cent from the previous close of Nifty futures.

On Tuesday, December 16, Indian equities extended their decline as a sharp fall in the rupee and continued weakness in global markets weighed on investor sentiment. The Sensex fell 534 points, or 0.63 per cent, to close at 84,679.86. The Nifty 50 dropped 167 points, or 0.64 per cent, to end at 25,860.10.

Add Zee Business as a Preferred Source

Global cues and data watch

Globally, investors are waiting for key inflation data from the UK and the Euro Area, which could offer fresh cues on the interest rate outlook. Uncertainty around global growth and central bank policies continues to keep risk appetite in check.

Asian markets

Markets across the Asia-Pacific region were mostly lower on Wednesday. Investors assessed fresh trade data from Japan and remained cautious after a mixed US jobs report provided limited clarity on the US Federal Reserve’s future rate path.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.16 per cent. Japan’s Nikkei slipped marginally. Nasdaq futures declined 0.26 per cent, while S&P 500 futures were down 0.14 per cent after a mixed overnight session on Wall Street.

Wall Street

US stocks ended mixed on Tuesday as investors reacted to fresh labour market data and ongoing sector rotation. The S&P 500 fell for the third consecutive session, slipping 0.24 per cent to 6,800.26. The Dow Jones Industrial Average declined 302.30 points, or 0.62 per cent, to 48,114.26. In contrast, the Nasdaq Composite gained 0.23 per cent to close at 23,111.46.

FII and DII activity

In the institutional segment, foreign institutional investors net sold shares worth Rs 2,060.76 crore on Tuesday. Domestic institutional investors, however, remained net buyers, purchasing shares worth Rs 770.76 crore.

IPOs today

In the primary market, the KSH International IPO enters its second day of subscription today. Meanwhile, the ICICI Prudential AMC IPO will see its basis of allotment finalised.

Oil prices

Crude oil prices were mixed on Wednesday morning. Brent crude slipped 2.71 per cent to $58.92 per barrel. US West Texas Intermediate crude rose 1.21 per cent to $55.94 per barrel.