Indian benchmark indices Sensex and Nifty 50 are likely to see a weak start on December 20, tracking cues from GIFT Nifty trading around 23,934.50, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
India's benchmark indices, Sensex and Nifty, tumbled over 1% on December 19, marking their fourth consecutive session of decline, as global market weakness weighed heavily on investor sentiment. The downturn followed the US Federal Reserve’s cautious outlook on rate cuts, which dampened optimism. The Fed now forecasts only two rate cuts in 2025, down from its previous projection of four, a revision that unsettled markets worldwide.
At the close of trading, the Sensex dropped 1.2%, shedding 964 points to settle at 79,218, while the Nifty fell 1.02%, losing 247.6 points to end at 23,951.25.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Down)
The GIFT Nifty is trading lower, indicating a negative start for the day. Nifty futures were trading at 23,934.50 at 07:00 am IST.
Asian Equities (Mixed)
Asian stocks traded in a tight range early Friday, after the Federal Reserve’s hawkish pivot continued to weigh on US equities and bonds but lifted the dollar.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Topix | 0.15 | -2.66 | 5.35 |
| Nikkei | 0.12 | -2.55 | 6.42 |
| Hang Seng | -0.01 | 2.53 | 19.12 |
| Taiwan | -0.44 | 2.75 | 21.94 |
| Kospi | -0.94 | -4.59 | -17.20 |
US Equities (Flat)
US stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve forecast fewer-than-expected interest rate cuts and higher inflation next year.
Economic data was in sync with the Fed's view, with weekly initial jobless claims falling more than expected while gross domestic product for the third quarter was revised to show a 3.1% increase from the previously reported 2.8% pace.
The Dow Jones Industrial Average rose 15.37 points, or 0.04%, to 42,342.24, the S&P 500 lost 5.08 points, or 0.09%, to 5,867.08 and the Nasdaq Composite lost 19.92 points, or 0.10%, to 19,372.77.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Dow Jones | 0.04 | -5.07 | 14.86 |
| S&P500 | -0.09 | -2.07 | 25.76 |
| Nasdaq | -0.10 | 1.50 | 31.95 |
US Bond Yield (Down)
The US 10-Year Treasury shed 31 basis points to 4.54 percent, while the 2-Year Treasury was down 14 basis points to 4.31 percent, in the early Friday trade.
| Current Price | MTD | YTD | |
| US 10-Year Treasury | 4.54 | 4.41 | 3.84 |
| US 2-Year Treasury | 4.31 | 4.31 | 4.33 |
Dollar Index (Flat)
The dollar was set to cap the week on a strong note on Friday as it was perched near a two-year high bolstered by a hawkish U.S. rate outlook, while the yen struggled to stay afloat as it again weakened to a new low.
| Current Price | MTD | YTD | |
| Dollar Index | 108.45 | 104.01 | 102.40 |
Asian currencies (Mixed)
Asian currencies were trading mixed against the US dollar, with Indonesian Rupiah depreciated the most followed by Thai Baht, South Korean Won and China Renminbi.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | -1.31 | -2.86 | -5.60 |
| South Korean Won | -0.135 | -3.34 | -10.88 |
| Japanese Yen | 0.013 | -1.30 | -10.42 |
| Philippines Peso | 0.146 | 0.041 | -5.97 |
| Thai Baht | -0.266 | 0.188 | -1.06 |
| Taiwan Dollar | 0.018 | -0.551 | -6.41 |
| China Renminbi | -0.138 | -0.776 | -2.68 |
| Malaysian Ringgit | -0.038 | -0.797 | 1.92 |
| Singapore Dollar | -0.022 | -1.36 | -3.03 |
Crude (Down)
Oil prices fell in early trading on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down more than 2%.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| US West Texas | -0.31 | 1.57 | -.3.59 |
| Brent Crude | -0.39 | -0.62 | -5.89 |
Gold (Flat)
Gold headed for a weekly drop, as traders weighed the interest-rate outlook after the Federal Reserve dialed back rate-cut expectations for next year.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Gold | 0.10 | -1.67 | 25.95 |
| Silver | -0.15 | -5.16 | 21.99 |
Fund Flow Action
Foreign institutional investors (FIIs) offloaded equities worth Rs 4,225 crore on December 19, while domestic institutional investors purchased equities worth Rs 3,943 crore on the same day.
| 19th Dec | MTD | YTD | |
| FII Net Flows | -4,224.92 | -523.40 | -2,81,694.29 |
| DII Net Flows | 3,943.24 | 15,172.04 | 5,30.642.07 |
Hope you're all set for today's trade, we wish you a profitable day ahead.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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