• Notification Date: 12-12-2024
• Notification No: N/A

Indian Stock Market Outlook: Mixed Cues as Global Markets Show Diverging Trends

The Indian stock market is expected to open on a muted note on Thursday, thereby following mixed global cues. The Gift Nifty was dealing around the level of 24,750 levels, which showcases a slight premium of 15 points in comparison to the previous close of Nifty futures, suggesting a subdued start for domestic indices like Nifty 50 and Sensex.

On the international front, the Asian markets notably traded higher, following gains in stocks of US tech. Japan’s Nikkei 225 rose 1.7%, South Korea’s Kospi gained 1%, and Hong Kong’s Hang Seng index futures designated a positive opening, although the US market ended mixed. The Nasdaq crossed the milestone of 20,000 points for the first time, driven by strong performances in tech stocks like Tesla, Nvidia, and Amazon. On the other hand, the Dow Jones dropped by 0.22%, and the S&P 500 gained 0.82%.

The inflation data of US for November significantly showed the largest rise in seven months, with the Consumer Price Index (CPI) increasing by 0.3%. This has notably fueled expectations that the US Federal Reserve may cut interest rates soon, with the probabilities of the market rising to over 96% for a 25 basis point rate cut next week. This news also leads the way towards a rise in the Treasury yields and US dollar.

On Wednesday, the Indian markets ended a losing streak of three days, with Sensex rising by 16.09 points to close at 81,526.14 and Nifty 50 gaining 31.75 points to settle at 24,641.80. Investors will primarily focus on the upcoming CPI of India, industrial production data, and the US PPI report.

The experts are hoping the Indian market to remain in a broad range with a positive bias, supported by foreign portfolio income and optimism around the spending of Government.