Indian benchmarks closed the session on a lower note for the third consecutive session. The Nifty 50 finished 38 points or 0.14% lower at 26,141. The 30-pack Sensex ended 102 points or 0.12% lower at 84,961.
However, Titan was the clear winner, rising nearly 4% to become the top gainer in the Nifty 50. It was followed by tech stocks liek HCL Technologies, Wipro, Tech Mahindra, etc.
The Bank Nifty dropped 128 points or 0.21% to close at 59,990, meanwhile the broader markets outperformed to finish in the green.
Markets today at open
Indian equity indices opened Wednesday’s trade on a lower note for the second consecutive session. The Nifty 50 fell 56 point or 0.21% to open at 26,123, while the BSE Sensex dropped 169 points or 0.20% to open at 84,894.
“The recent market movements have been devoid of any trend and clear direction. Actions in a few mega stocks are influencing the overall market disproportionately. For instance, yesterday despite positive institutional buying Nifty drifted down by 71 points, mainly due to sharp declines in two stocks- Reliance and HDFC Bank. The large volumes in these two stocks in the derivative and cash market indicate activity associated with settlement day. In other words, the sharp dips in these stocks have nothing to do with their fundamentals; it is more technical in nature,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
The global markets were trading on a mixed note. The GIFT Nifty was trading 72 points, or 0.27%, lower at 26,208. Here are domestic as well as key global cues to watch before the market opens that include crude oil prices, FII and DII data, business groups that most affect, sectoral performance, etc.
Earlier on Tuesday, the NSE Nifty 50 closed the session 72 points or 0.27% lower at 26,179, while the BSE Sensex fell 376 points or 0.44% to close at 85,063.
Key global and domestic cues affecting investor sentiments on January 07, 2025
Asian Markets
The Asian markets on Tuesday morning opened on a mixed note. Japan’s benchmark Nikkei 225 slid 0.45%, while the Topix lost 0.63%. South Korea’s Kospi jumped 1.89%, while the small-cap Kosdaq edged 0.12% lower. Hong Kong’s Hang Seng Index was also poised for a weaker open, with its futures contract trading at 26,685, against the index’s previous close of 26,710.45.
US markets
The US benchmarks closed Tuesday’s trade on a higher note, shrugging off worries of the US attack on Venezuela. The blue-chip Dow Jones jumped nearly 485 points, or 0.99%, to close above 49,000 for the first time. The S&P 500 also posted a record close after gaining about 0.6%, and the tech-heavy Nasdaq Composite ended the day higher by almost 0.7%
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.01% lower at 98.59 on Wednesday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.13% to close at 90.17 to the dollar on January 06.
Crude oil
The crude oil prices traded on a lower note on Wednesday morning after U.S. President Donald Trump said that Venezuela would transfer between 30 million and 50 million barrels of oil to the United States. WTI crude prices were trading at $56.50, down 1.14%, while Brent crude prices were trading at $60.13, a fall of 0.94%.
India’s FY26 advance GDP estimates
India’s economy is expected to expand by 7.4% or more in 2025-26, as the National Statistical Office prepares to publish the first advance estimates of gross domestic product (GDP) for the ongoing financial year. This will be the final GDP-related data release based on the 2011-12 base year, ahead of the rollout of a new national accounts series with a 2022-23 base next month.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares worth Rs 107.63 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 1,749.35 crore on January 06, 2025, according to the provisional data available on the NSE.
Gold rate today
The rate for 24-carat gold today is Rs 1,39,250 per 10 grams, near its all-time high. The price of gold has risen by 0.65% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,39,010 per 10 grams. The 18-carat gold price today in India is Rs 1,04,437.5. The 24-carat gold rate in Dubai today is Rs 1,02,210.73.
Top sectors in Tuesday’s trade
The non-alcoholic beverages sector’s stocks rose the most in Tuesday’s trade, increasing 2.25% in market capitalisation. Further, non-ferrous metal stocks were followed by the Tea and Coffee sector stocks, which were further followed by the pharma sector stocks. However, the renewable energy sector stocks fell the most.