On Wednesday, December 3, the Sensex and Nifty 50 are expected to open on a muted note, despite gains in global markets.
GIFT Nifty hovered near the 26,207 mark, showing a premium of about 1 point over the previous close of Nifty futures. This signalled a muted opening for the Indian equity indices.
In early trade, Asian markets traded mostly higher, while the US stock market gained overnight, led by tech stocks and hopes of an interest rate cut by the US Federal Reserve.
Investor sentiment has turned cautious as the India-US trade deal continues to be delayed, leaving market participants anxious. In addition to this, the ongoing weakness in the rupee is further contributing to the overall unease in the market.
On Tuesday, December 2, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹3,642.30 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹4,645.94 crore, marking their 28th consecutive session of net inflows.
Indian equity benchmarks extended their decline for the third straight session on Tuesday, December 2, as profit-taking in financials dragged the markets lower. The Nifty 50 slipped 0.55% to 26,032.20, closing below its 20-DEMA, while the Sensex fell 503.63 points or 0.59% to 85,138.27. Most sectors ended in the red except Nifty Pharma, with Nifty Financial Services dropping 0.9% as HDFC Bank and ICICI Bank shed over 1% each ahead of a weightage revision in the Nifty Bank index.
Broader indices also softened, with the Nifty Midcap 100 and Nifty Smallcap 100 ending lower as investors awaited cues on the India–US trade deal after Monday’s record highs.
The US stock market moved higher on Tuesday, marking its sixth rise in the last seven sessions, as tech shares provided most of the lift in an otherwise subdued trading day.
The Dow Jones Industrial Average added 185.13 points, or 0.39%, closing at 47,474.46. The S&P 500 inched up by 16.74 points, or 0.25%, to finish at 6,829.37, while the Nasdaq Composite advanced 137.75 points, or 0.59%, ending the session at 23,413.67.
Apple stock price rallied 1.09%, Nvidia share price rose 0.86%, AMD shares declined 2.06%, and Microsoft shares gained 0.67%. Intel stock price surged 8.65%, Boeing share price jumped 10.15%, while Tesla stock price fell 0.21%.
Russia and the US held constructive discussions aimed at ending the Ukraine conflict, according to Yuri Ushakov, senior adviser to President Vladimir Putin. The talks took place in the Kremlin, where Putin met US President Donald Trump’s representative Steve Witkoff along with Jared Kushner to explore possible terms for a peace agreement.
Japan’s services industry maintained its steady upward momentum in November. The S&P Global final Services PMI inched up to 53.2, slightly higher than October’s reading of 53.1, reflecting continued expansion in the sector.
Gold prices remained largely stable following a 1% fall in the previous session. Spot gold hovered around $4,207.43 per ounce, and US December gold futures posted a modest 0.5% rise to $4,239.50 per ounce.
Oil prices stayed nearly unchanged as investors evaluated possible outcomes of the Russia–Ukraine peace initiative. Brent crude edged up 0.02% to $62.47 per barrel, while WTI crude futures also added 0.02% to trade at $58.65.
Disclaimer: The article is for informational purposes only and not investment advice.
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