Indian equity benchmarks Sensex and Nifty 50 are likely to see a muted start on Friday, December 26, despite positive trends in the global markets.
The GIFT Nifty was trading near the 26,115 mark, showing a discount of about 16 points.
Asian stocks edged higher on Friday with Japan’s Nikkei 225 surged over 500 points.
On Wednesday, December 24, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹1,721.26 crore, for the 3rd consecutive trading sessions. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹2,381.34 crore, marking their 44th consecutive session of net inflows.
Indian equity benchmarks ended lower on Wednesday, December 24, as profit booking erased early gains. The Nifty 50 slipped 0.13% to close at 26,142, while the BSE Sensex declined 0.14% to 85,408. Sectoral performance remained weak, with oil & gas, energy, IT and FMCG stocks dragging the indices, though the BSE Telecommunication index stood out as the lone gainer, rising about 0.25%. The Nifty VIX eased over 2%, indicating lower near-term volatility.
Broader markets also closed in the red, with the BSE Mid-cap and Small-cap indices falling 0.37% and 0.14%, respectively.
US equities wrapped up a quiet pre-Christmas trading session on a positive note, with major indices touching fresh record highs. Investor sentiment was supported by economic data that eased concerns about a sharp deterioration in the US labour market, reinforcing confidence that the economy may achieve a soft landing rather than a hard slowdown.
On Wednesday, the S&P 500 advanced 0.3% to finish at 6,932.05, while the Dow Jones Industrial Average climbed 0.6% to close at 48,731.16. The Nasdaq Composite also ended in the green, rising 0.2% to 23,613.31.
US markets shut early on Christmas Eve and remained closed on Thursday for Christmas Day. Trading resumes today, Friday, for a full session, though activity is expected to be muted as many investors have already squared off positions ahead of year-end.
Japanese government bond prices moved slightly higher on Friday, helping yields retreat from multi-decade peaks. The 10-year JGB yield slipped by one basis point to 2.035%, down from the 2.1% level reached earlier in the week its highest since 1999. Futures on the 10-year bond edged up 0.03 yen to 132.71.
Yields on longer-tenure JGBs have risen sharply since early November amid concerns over the scale of debt-financed stimulus proposed by Prime Minister Sanae Takaichi. At the same time, short-term yields remain under pressure following signals from the Bank of Japan that further interest rate hikes remain on the table.
Gold edges higher in the morning Asian session amid geopolitical risks. Spot gold is trading 0.3% higher at $4,493.63/oz, setting a new record high.
Spot silver extended its rally for a fifth consecutive session, surging as much as 2.7% to scale a fresh record above $73.78 an ounce.
Brent crude oil futures edged up to $62.4 per barrel and WTI crude oil futures edged up to $58.5 per barrel on Friday, heading for a weekly gain, supported by geopolitical risks. Crude prices rallied earlier in the week after President Donald Trump intensified the US naval blockade of Venezuela, with the seizure of oil tankers as its latest strategy.
Disclaimer: The article is for informational purposes only and not investment advice.
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