GIFT Nifty:
The GIFT Nifty January 2025 futures contract is currently down 64 points, indicating a negative start for the Nifty 50.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 168.71 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,227.68 crore in the Indian equity market on 23 December 2024, provisional data showed.
According to NSDL data, FPIs have bought shares worth over Rs 3828.86 crore (so far) in the secondary market during December 2024. This follows their sale of shares worth Rs 39315.78 crore in November 2024.
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Global Markets:
Asian stocks climbed on Tuesday, buoyed by gains in technology shares that mirrored their U.S. counterparts. However, trading volumes remained thin ahead of the Christmas holiday.
Markets awaited further clarity on Beijing's plans for stimulus measures in the upcoming year. Recent reports indicated that China will increase fiscal spending to bolster economic growth.
Regional markets drew positive signals from Wall Street, which closed higher on Monday as technology stocks partially recovered from last week's steep declines.
On Monday, the S&P 500 gained 0.7% to 5,974.07 points, the Dow Jones Industrial Average rose 0.2% to 42,906.65, and the NASDAQ Composite climbed 1% to 19,764.89 points.
Broadcom Inc surged 5.5% as investors continued to acquire shares of the chipmaker following its strong quarterly results and optimistic guidance released earlier this month. Qualcomm Inc stock rose more than 3% after a jury ruled that its central processors are properly licensed under an agreement with UK-based Arm Holdings.
Wall Street will have a shortened trading session on Tuesday, as will most Asian markets.
Domestic Market:
The domestic equity indices staged a strong rebound on Monday, snapping a five-day losing streak. The benchmark indices, Sensex and Nifty 50, witnessed significant gains, driven by positive sentiment in regional markets following the release of subdued US inflation data. The Nifty 50 closed above the 23,750 mark, while sectoral indices such as Realty and PSU banks outperformed. The S&P BSE Sensex gained 498.58 points or 0.64% to 78,540.17. The Nifty 50 index rallied 165.95 points or 0.70% to 23,753.45.
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