Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Monday. While BSE Sensex was near 78,600, Nifty50 was above 23,750. At 9:16 AM, BSE Sensex was trading at 78,609.52, down 90 points or 0.11%. Nifty50 was at 23,786.10, down 27 points or 0.11%.
Indian markets advanced on Friday, driven by gains in automotive and banking sectors, although investor sentiment remained cautious due to foreign institutional investor outflows and the rupee’s significant decline.
Market observers will closely track automotive sales data for early indicators as the new year begins. Analysts indicate that, without major events scheduled, the focus will likely centre on FII movements and currency trends, particularly as the rupee weakens against the US dollar.
Technical analysis by ET suggests that the Nifty index displays a contained sideways-to-positive movement. Its restricted price range and recurring indecisive candlestick patterns indicate uncertain direction. Nevertheless, the limited downside and steady recovery from lower levels favour bullish sentiment.
US markets ended lower on Friday, with all primary indices declining in broad-based selling, affecting technology and growth stocks that had previously led gains during the shortened trading week.
Asian markets opened lower, following US equities’ decline. The MSCI Asia Pacific Index ended its five-day positive streak as Australian shares declined and Japan’s Nikkei 225 decreased. Year-end holiday trading volumes remain low, potentially amplifying price movements.
Gold prices increased on Monday due to Middle East tensions enhancing its safe-haven status, whilst traders monitored the U.S. Federal Reserve’s stance on interest rates and Donald Trump’s tariff decisions, which could influence the precious metal’s direction in 2025.
The Japanese yen reached five-month lows against the dollar on Monday, influenced by rising U.S. yields, with limited year-end trading keeping most currencies within narrow ranges.
Foreign portfolio investors became net sellers at Rs 1,323 crore on Friday, whilst DIIs acquired shares worth Rs 2554 crore.
