Indian benchmark indices, Sensex and Nifty, are likely open gap-up on December 11, with cues coming from GIFT Nifty, which was trading lower at around 25,950.50.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
In the highly volatile session on December 10, the benchmark indices ended lower with Nifty finishing around 25,750 and extended the losing streak for the third consecutive session, ahead of the FOMC meeting outcome.
At close, the Sensex was down 275.01 points or 0.32 percent at 84,391.27, and the Nifty was down 81.65 points or 0.32 percent at 25,758.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Gains)
The GIFT Nifty is trading higher at around 25,950.50, indicating a strong opening for the day.
Asian Equities (Up)
Asian equities echoed gains on Wall Street after the Federal Reserve cut interest rates and Chair Jerome Powell voiced optimism that the US economy will strengthen as the inflationary impact from tariffs fades away.
US Equities (Gain)
Wall Street ended higher on Wednesday, after the Federal Reserve cut interest rates by a quarter percentage point as expected and investors bet on further easing down the road even as the central bank signaled that it will put further cuts on pause for now.
In his press conference Fed Chair Jerome Powell declined to provide guidance on whether there will be another rate cut in the near future. However, investors garnered some hope for easing from his comments that the labor market has significant downside risks and that the central bank doesn't want its policy to push down on job creation.
The S&P 500 closed up 46.17 points, or 0.67%, at 6,886.68, eyeing a return to its October 28 record closing high but ultimately falling short at the end of trading.
The Dow Jones Industrial Average rose 497.46 points, or 1.05%, to 48,057.75 while the Nasdaq Composite gained 77.67 points, or 0.33%, to 23,654.16.
US Bond Yield (Down)
The yield on 10-year treasuries shed one basis point to 4.13%, while the 2-year Treasury yield was down marginally at 3.53%.
Dollar Index (Down)
The dollar fell on Thursday after the Federal Reserve delivered an outlook that was not as hawkish as some had anticipated, giving investors confidence to short the currency as they bet on two more rate cuts next year.
Asian Currencies (Up)
Except the Indonesian Rupiah, China Renminbi, all other Asian currencies were trading higher in the early Thursday trade.
Crude (Rises)
Oil extended an advance after the US seized a sanctioned tanker off Venezuela, deterring more shipments from the South American producer and raising the risk of a conflict.
Gold (Up)
Gold held gains after the US Federal Reserve delivered a widely expected third straight interest-rate cut on Wednesday. Silver rose to a record.
Fund Flow Action
The Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1651 crore on December 10, while Domestic Institutional Investors (DIIs) purchased equities of more than Rs 3752 crore on the same day.
Hope you're all set for today's trade. We wish you a profitable day ahead.
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