Indian benchmark indices, Sensex and Nifty, are likely to open on a positive note on January 6, with cues coming from GIFT Nifty, which was trading higher at around 26,396.50.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
The Indian markets started the week on a strong note with Nifty hitting fresh high of 26,373.20 but failed to build on the gains and witnessed a rangebound activity in the first half. However, amid escalated tension between US-Venezuela, the market witnessed extended selling pressure in the second half, dragging Nifty near 26,250, to close near day's low.
At close, the Sensex was down 322.39 points or 0.38 percent at 85,439.62, and the Nifty was down 78.25 points or 0.30 percent at 26,250.30.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Gains)
The GIFT Nifty is trading higher at around 26,396.50, indicating a positive start for the day.
Asian Equities (Up)
Asian equities posted a modest gain at the open Tuesday, holding near record levels as geopolitical
concerns failed to deter investors from adding to their portfolios.
US Equities (Up)
Wall Street ended higher on Monday, with surging financial shares helping lift the Dow Jones Industrial Average to an all-time peak, while energy firms jumped after a U.S. military strike captured Venezuelan President Nicolas Maduro.
The S&P 500 climbed 0.64% to end the session at 6,902.05 points.
The Nasdaq gained 0.69% to 23,395.82 points, while the Dow rose 1.23% to 48,977.18 points.
US Bond Yield (Up)
The yield on the US 10-year Treasury bond and 2-year Treasuries were trading with marginal gains.
Dollar Index (Up)
The US dollar steadied near a two-week high as trading commenced in Asia on Tuesday, as market jitters from US military action in Venezuela eased and dovish comments from Fed officials spurred risk-taking on Wall Street. The dollar index, which measures its strength against a basket of six currencies, was last trading at 98.34, nudging up 0.04% after snapping a four-day winning streak on Monday.
Asian Currencies (Down)
Asian currencies were trading mostly lower in the the early trade on Tuesday.
Crude (Up)
Markets closely followed the developments in Venezuela, with Brent crude rising 1.7% to $61.76 a barrel.
Gold (Flat)
Gold trading with little change and silver advanced, with investors weighing heightened geopolitical risks following the US capture of Venezuelan leader Nicolás Maduro.
Fund Flow Action
On January 5, the Foreign Institutional Investors (FIIs) sold equities worth Rs 36 crore, while Domestic Institutional Investors (DIIs) bought equities of Rs 1764 crore, on same day.
Hope you're all set for today's trade. We wish you a profitable day ahead.
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