Indian equity indexes closed Thursday’s trade on a lower note, extending losses for the fourth consecutive session. The Nifty 50 finished 264 points or 1.01% lower at 25,877, while the BSE Sensex fell 780 points or 0.92% to end at 84,181.
The small-cap and mid-cap stocks bled, diving 1.96% to close at 60,222, while the Bank Nifty finished 305 points or 0.51% lower at 59,686.50.
“Domestic markets extended losses as sentiment turned cautious amid renewed concerns over US tariffs and persistent FII outflows, overshadowing optimism around earnings growth. Broad-based selling was led by metals, oil & gas, and IT stocks. Metal shares declined on profit booking following a retreat in global prices, while oil & gas stocks fell on worries over the Venezuela-US crisis,” said Vinod Nair, Head of Research at Geojit Investments.
Markets today at 11 AM
The key indices extended losses at 11 AM. The Nifty 50 dropped 140 points or 0.53% and struggled around 26,000, while the Sensex dropped 350 points or 0.43% to trade at 84,619.
The metal stocks dragged the markets. The Nifty Metal index cracked 3.13% to 11,162.95. Hindustan Zinc was the major loser among metal counters, dipping over 6%.
Markets at open
Indian equity indices opened Thursday’s trade on a lower note for the third straight session. The Nifty 50 opened 43 points or 0.17% lower at 26,097, while the BSE Sensex dropped 175 points or 0.21% to open at 84,786.
The Bank Nifty and midcap stocks were in line with benchmarks, falling 0.17% and 0.06%, respectively.
“We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to break out. On the higher side, 26,200 would act as an immediate breakout zone for the bulls. A successful breakout of 26,200 could push the market towards 26,260-26,300,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Markets ahead of opening
The GIFT Nifty is trading 41 points, or 0.16%, lower at 26,185. 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 Wednesday, the NSE Nifty 50 closed the session 38 points or 0.14% lower at 26,140, while the BSE Sensex fell 102 points or 0.12% to close at 84,961.
Key global and domestic cues affecting investor sentiments on January 08, 2025
Asian Markets
The Asian markets on Thursday morning opened on a mixed note following Wall Street. Japan’s Nikkei 225 opened 0.46% lower, while the Topix index retreated 0.27%. South Korea’s Kospi added 0.12%, while the small-cap Kosdaq climbed 0.1%. Hong Kong’s Hang Seng Index was set to open lower, with its futures contract trading at 26,348, against the index’s previous close of 26,458.95.
US markets
The futures tied to the US indices hovered near the flatline overnight after the S&P 500 and the Dow Jones Industrial Average snapped three-day win streaks. The US benchmarks closed Wednesday’s trade on a lower note. The S&P 500 dropped 0.34% and closed at 6,920.93. The Dow Jones fell 466 points, or 0.94%, settling at 48,996.08. The Nasdaq Composite gained 0.16% and ended at 23,584.27.
Crude oil
The crude oil prices traded on a higher note on Thursday morning after U.S. President Donald Trump signed a deal to import up to $2 billion worth of Venezuelan crude. WTI crude prices were trading at $56.34, up 0.62%, while Brent crude prices were trading at $60.34, a rise of 0.66%. The U.S. energy secretary said that the United States needs to control Venezuela’s oil sales and revenue indefinitely to stabilise that country’s economy and rebuild its oil sector.
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 98.72 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 0.33% to close at 89.88 to the dollar on January 07.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares worth Rs 1,527.71 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 2,889.32 crore on January 07, 2025, according to the provisional data available on the NSE.
Gold rate today
The rate for 24-carat gold today is Rs 1,38,260 per 10 grams, near its all-time high. The price of gold has fallen by 0.71% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,38,020 per 10 grams. The 18-carat gold price today in India is Rs 1,03,695.
Top sectors in Wednesday’s trade
The Gems and Jewellery sector’s stocks rose the most in Thursday’s trade, increasing 4.1% in market capitalisation. Further, artificial intelligence stocks were followed by the retail sector stocks, which were further followed by the glass sector stocks. However, the EV Charging sector stocks fell the most.