Stock Market Today: Sensex, Nifty 50 likely to open flat-to-positive​

Nifty, Sensex Today: Indian equity benchmarks Sensex and Nifty 50 are expected to open marginally higher on Friday (16 Jan), tracking mixed cues from global markets. Early indicators, however, suggest a cautious start as investors assess global trends, currency moves and persistent foreign fund outflows.

GIFT Nifty today

Gift Nifty was trading at 25,789 at 8:30 am, up 4 points, or 0.02 per cent, indicating a flat-to-positive opening for domestic equities.

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Asian markets were mixed in early trade. US stocks ended higher overnight, led by gains in banking and semiconductor shares. The rebound came after two sessions of losses on Wall Street.

Domestic markets will reopen after a holiday on Thursday. The BSE and NSE were shut due to municipal corporation elections in Maharashtra.

On Wednesday, Indian equities extended losses for the second straight session. Concerns over the India-US trade deal and continued foreign capital outflows weighed on sentiment. The Sensex fell 244.98 points, or 0.29 per cent, to close at 83,382.71. The Nifty 50 declined 66.70 points, or 0.26 per cent, to end at 25,665.60.

Technical view

The Nifty closed lower for the second consecutive day and has ended lower in seven of the last eight sessions. The index slipped below the key support level of 25,750, which had held for nearly two months. It has closed below this level on three of the last four trading days, signalling a possible breakdown in range.

Bank Nifty, however, showed relative strength. It closed marginally higher for the third straight session and formed a higher high and higher low for the second day in a row. The 58,700–58,800 zone remains a strong support. The index has not closed below this range since mid-November. Historically, this zone has triggered recoveries of 0.5 per cent to 2.8 per cent within a few sessions. On the upside, the 59,700–59,800 range continues to act as a hurdle.

FII and DII activity

Foreign institutional investors marginally increased their long positions in index futures to 7.60 per cent from 7.54 per cent. Despite this, FIIs remained net sellers in the cash market for the eighth consecutive session, selling shares worth Rs 4,781 crore on Wednesday. Across cash, index futures and stock futures, net selling stood at Rs 4,621 crore.

Domestic institutional investors continued to provide support. They bought equities worth Rs 5,217 crore, marking their 97th straight day of net buying, a record streak.

Dow rebounds

US markets snapped a two-day losing run. The Dow Jones gained about 250 points over two sessions. The Russell 2000 hit a fresh life high for the sixth time this year. Taiwan Semiconductor Manufacturing Company also touched a life high and has risen about 20 per cent over the past month.

Rupee and commodities

The rupee weakened by 11 paise to close at 90.30 against the dollar, hovering near a one-month low. The dollar index rose above 99, a six-week high.

Gold and silver hit fresh life highs. Gold climbed to Rs 1,43,590 per 10 grams, while silver surged to Rs 2,92,960 per kg. Over the last five days, gold has risen Rs 5,400 and silver Rs 48,000.

Crude oil slipped from a three-and-a-half-month high of $66.50. Prices fell about 4 per cent to close below $64 a barrel. Base metals remained firm, with copper trading near record highs, zinc at its highest level since January 2023 and lead at its highest since October 2024.

With mixed global signals, a weak rupee and continued FII selling, market participants are likely to remain cautious, even as technical support levels and domestic flows provide some stability.