Sensex, Nifty Today: Indian stock market likely to open flat as Gift Nifty signals caution

Sensex, Nifty Today: Indian equity benchmarks Sensex and Nifty 50 are likely to open on a muted note on Tuesday, December 16, tracking weak cues from Asian markets after US equities ended lower overnight. Caution ahead of key US economic data is weighing on global risk sentiment.

Gift Nifty today

Trends on Gift Nifty signal a flat-to-negative start for domestic indices. Gift Nifty was trading around the 26,033 level, down 57 points, or 0.22 per cent, from the previous close of Nifty futures.

Add Zee Business as a Preferred Source

How markets closed on Monday

Indian equities snapped a two-session winning streak on Monday amid mixed global signals. The Sensex fell 54 points, or 0.06 per cent, to close at 85,213.36. The Nifty 50 slipped 20 points, or 0.08 per cent, to end at 26,027.30.

Asian markets

Asian stocks opened lower on Tuesday as investors trimmed risk ahead of key US economic data that could guide interest rate expectations. The Japanese yen strengthened, adding pressure on regional equities. Japan’s Topix declined 0.8 per cent, while Australian shares edged higher. Futures linked to US indices also traded lower in early Asian hours, keeping sentiment subdued.

Wall Street

US stocks declined on Monday as continued selling in technology shares dragged benchmarks lower. The S&P 500 fell 0.16 per cent to 6,816.51, while the Nasdaq Composite dropped 0.59 per cent to 23,057.41. The Dow Jones Industrial Average eased 0.09 per cent to 48,416.56. Heavyweight tech stocks remained under pressure, with sharp losses in select large-cap names.

FII, DII activity

Foreign institutional investors remained net sellers on Monday, offloading shares worth Rs 1,427.57 crore. Domestic institutional investors, however, provided support by buying equities worth Rs 1,734.91 crore.

IPO update

In the mainboard segment, the KSH International IPO opens for subscription today, while the ICICI Prudential AMC IPO enters its final day. In the SME space, Stanbik Agro, Exim Routes, and Ashwini Container Movers IPOs are in their last day of bidding. Neptune Logitek IPO is on day two, while HRS Aluglaze and Pajson Agro India IPOs will see their basis of allotment finalised today.

Commodity action

Oil prices edged lower in early trade on Tuesday. Brent crude slipped 0.92 per cent to $60.56 per barrel, while US WTI crude was down 0.26 per cent at $56.67 per barrel.