The GIFT Nifty indicates that the BSE Sensex and NSE Nifty 50 are likely to open lower on Thursday, January 9.
Indian equity markets ended Wednesday’s (January8) trading session on a flat note after a day of high volatility. The Sensex slipped by 50.62 points (0.06%) to settle at 78,148.49, while the Nifty dipped by 18.95 points (0.08%) to close at 23,688.95.
Top cues to watch on January 9, 2025
Fed Meeting Minutes
The Federal Reserve’s December 2024 meeting minutes announced a cautious approach to future rate cuts as officials aim to manage elevated inflation risks, supported by strong consumer spending. Core inflation stood at 2.8% in November, exceeding the Fed’s 2% target, while economic growth is projected to remain above trend through 2024. Despite restrictive policy measures, inflation is not expected to align with the target until 2027.
Wall Street
US indices closed Wednesday on a mixed note. The S&P 500 closed the session 0.16% higher at 5,918.23. The technology-heavy Nasdaq Composite declined 0.07% to close the session at 19,475.93. The 30-stock Dow Jones Industrial Average fell 127.46 points or 0.30% to close at 42,506.75.
Asian Markets
Mixed session for Asia-Pacific markets on Thursday. Japan’s Nikkei 225 was trading 0.60% lower at 39,743.08. The Korean index Kospi trades 0.18% higher at 2,525.62. Australia’s S&P/ASX 200 index opened slightly lower, losing 0.50%. Chinese index, Shanghai Composite dropped 0.01% to approximately 3,230.16 points.
US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.01% at 108.99 on Wednesday morning. The index measures the US dollar’s strength or weakness against major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. Also, the Indian rupee closed at 85.85 against the US Dollar on Monday.
Crude Oil
WTI crude prices were trading at $75.91, down by 0.25%, while Brent crude prices were trading at $73.08 up by 0.33%, on Thursday morning
FII, DII Data
Foreign Institutional Investors (FIIs) sold stocks worth Rs 3,362.18 crore on January 8, 2025, with gross purchases of Rs 9,944.21 crore and sales totaling Rs 13,306.39 crore. Meanwhile, Domestic Institutional Investors (DIIs) recorded a net buying of Rs 2,716.28 crore, driven by Rs 14,251.50 crore in purchases against Rs 11,535.22 crore in sales.