All You Need to Know Before Market Open on January 6: Indian Markets Poised for a Strong Start
GIFT Nifty Signals Positive Opening as Global Sentiment Boosts Indian Indices
Pre-Market Update at 8:30 AM
On Friday, Wall Street closed sharply higher, driven by strong performance in technology stocks. Investors wrapped up a holiday-shortened week, welcoming the new year with optimism about potential Federal Reserve rate cuts and expectations of looser regulatory policies under the incoming administration.
The Dow Jones Industrial Average climbed 339.86 points or 0.80 per cent to close at 42,732.13. The S&P 500 advanced 73.92 points or 1.26 per cent to 5,942.47, while the Nasdaq Composite surged 340.88 points or 1.77 per cent to 19,621.68.
Asian markets traded mixed on Monday after Wall Street broke its five-day losing streak, supported by renewed demand for major technology stocks. While most indices moved higher, Japan's Nikkei dipped 1 per cent.
GIFT Nifty signals a positive opening for Indian markets, with trends indicating a rise of 72 points or 0.30 per cent. Nifty futures were trading near the 24,132 level.
On January 3, bears took control of Dalal Street, pushing the Nifty close to the crucial 24,000 mark as selling pressure hit IT, Pharma, and Banking stocks. However, buying interest in media and oil & gas sectors helped limit the overall losses.
By the end of the day, the Sensex had dropped 720.60 points or 0.90 per cent to 79,223.11, while the Nifty fell 183.90 points or 0.76 per cent to 24,004.75.
The dollar displayed mixed movements against major currencies early Monday, with the yen easing slightly from its late-week gains to trade near 157 per dollar. Meanwhile, the US Dollar Index stood at 109.01.
Crude oil prices continued their longest rally in more than a year, supported by positive sentiment in broader markets. The international benchmark Brent crude hovered around Rs 77 per barrel.
Foreign institutional investors (FIIs) turned net buyers on January 3, purchasing equities worth Rs 4,227 crore. Domestic institutional investors (DIIs) also net bought equities worth Rs 820 crore on the same day, marking their 13th consecutive session as net buyers.
Manappuram Finance and RBL Bank remain under the F&O trading ban today.
Disclaimer: This article is for informational purposes only and does not constitute investment advice