Indian benchmark indices, Sensex and Nifty, are likely to see a strong opening on December 12, with cues coming from GIFT Nifty, which was trading lower at around 26,147.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
The Indian equity indices snapped three-day losing streak with Nifty closing at 25,900 amid positive global cues led by US Federal Reserve's 25-basis-point interest rate cut.
After a muted start, the Indian benchmark indices witnessed a choppy first half but buying in the second half helped to close near day's high.
At close, the Sensex was up 426.86 points or 0.51 percent at 84,818.13, and the Nifty was up 140.55 points or 0.55 percent at 25,898.55.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Rises)
The GIFT Nifty is trading higher at around 26,147, indicating a gap-up start for the day.
Asian Equities (Up)
Asian stocks opened higher after US shares and a broader gauge of global equities hit fresh records, helped by the Federal Reserve’s third consecutive interest-rate cut.
US Equities (Gain)
The S&P 500 and the Dow boasted record closing highs on Thursday after a Federal Reserve policy update that was less hawkish than expected while the tech-heavy Nasdaq underperformed as Oracle's financial update made investors wary of artificial intelligence bets.
The Dow Jones Industrial Average rose 646.26 points, or 1.34%, to 48,704.01, vaulting above its November 12 closing record. The S&P 500 gained 14.32 points, or 0.21%, to 6,901.00, breaching its October 28 record close. The Nasdaq Composite lost 60.30 points, or 0.25%, to 23,593.86.
US Bond Yield (Down)
The yield on 10-year treasuries and 2-year Treasury yield was down marginally at 4.14% and 3.52%, respectively.
Dollar Index (Flat)
The U.S. dollar headed for its third straight weekly drop on Friday, hurt by the prospect of rate cuts next year after the Federal Reserve pushed back against hawkish market bets, lifting the euro and sterling to their highest since October.
Asian Currencies (Up)
The Asian currencies were trading mostly higher in the early trade on Friday with Japanese Yen, Philippines Peso, Thai Baht trading with marginal losses.
Crude (Up)
Oil prices rose on Friday as the prospect of the U.S. intercepting more Venezuelan oil tankers deepened supply concerns, but remained on track for a weekly decline amid optimism over a possible Russia-Ukraine peace agreement.
Gold (Down)
Gold and silver edged lower in Asia after rising in the previous session.
Fund Flow Action
The Foreign Institutional Investors (FIIs) sold equities of over Rs 2000 crore on December 11, while Domestic Institutional Investors (DIIs) bought equities of more than Rs 3700 crore on the same day.
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