Markets Today: Sensex, GIFT Nifty, FIIs, RBI Policy; IPO, Voda Idea, Airtel

Pre-market update: Asian shares traded with steady gains on Thursday; Back home the weekly Nifty expiry and upcoming RBI policy outcome to weigh on investor sentiment today.

Stock Markets Today, Dec 5: GIFT Nifty futures hinted towards a likely tentative start for its counterpart NSE Nifty 50 this Thursday morning. Even as global cues are broadly positive, the weekly Nifty options expiry and some anxiety ahead of the RBI Policy outcome tomorrow could weigh on the market sentiment.  AT 7 AM, GIFT Nifty futures quoted around 24,520 levels, suggesting a likely 30-odd points dip at the opening bell on Thursday.  Nandish Shah, Senior Derivative & Technical Research Analyst at HDFC Securities believes that the short term trend of the Nifty remains positive. Bullish chart pattern like higher highs and lows is intact on the daily chart and any dips from here could be a buying opportunity. A decisive move above 24,500 is likely to open the next upside of around 24,900 in the near term. The immediate support is at 24,300.  Echoing a similar view Om Mehra, Technical Analyst at SAMCO Securities explained. Technically, the formation of a Doji candlestick on the Nifty below its 50 DMA reflects indecision after consecutive gains. Some consolidation or a minor pullback may be on the horizon; however, the broader trend remains intact, as Nifty holds above the 38.2 per cent Fibonacci retracement level. The support remains around 24,300-24,320, while a sustained above 24,540 could signal a resumption of upward momentum.  Meanwhile, while the equity benchmark indices have been on a roll logging back-to-back gains in the last four trading sessions, the Indian Rupee has been under pressure.  On Wednesday, the rupee depreciated to a new low of 84.74 against the US dollar while bond yields fell on the expectation of a softer interest rate regime, as the three-day December monetary policy meeting gets underway.  IPO Market Update  Emerald Tyre Manufacturers SME IPO to open for subscription today in the price band of Rs 90 - Rs 95 per share on the NSE.  Bidding for Nisus Finance Services IPO to continue for Day 2 on the BSE on Thursday.  FII, DII  On the institutional front, FIIs were net buyers for the second straight day yesterday. FIIs net bought stocks worth Rs 1,797.60 crore. Whereas, DIIs net sold shares to the tune of Rs 900.62 crore.  Stocks to Watch  Vodafone Idea: The British parent company Vodafone to sell 3 per cent stake in Indus Towers to clear its debt of $101 million or about Rs 856 crore and use the residual amount to pay outstanding dues of its Indian venture Vodafone Idea.  Bharti Airtel: Airtel has entered into a deal with Ericsson; the latter to deploy centralised Radio Access Network (RAN) and Open RAN-ready solutions. Ericsson will also undertake the software upgrade of its currently deployed 4G radios.  Global cues  Equity markets in the Asia-Pacific region traded with steady gains on Thursday. Japan's Nikkei advanced 0.5 per cent; Straits Times jumped 0.7 per cent and Taiwan added 0.3 per cent. The S&P/ ASX 200 and All Ordinaries were up around 0.3 per cent each.  Overnight in the US, benchmark indices scaled fresh record highs led by gains in technology shares after firms posted strong earnings and Federal Reserve Chairman Jerome Powell delivered encouraging comments about the health of the economy. The focus now shifts to November jobs due on Friday.  Meanwhile, Bitcoin surged above $99,000 after the US President-elect Donald Trump named Paul Atkins to lead the Securities and Exchange Commission. Atkins would succeed Gary Gensler, a critic of the crypto industry who last month said he would step down in January.  Commodity check  Crude oil prices eased on Wednesday. Crude Oil futures were seen quoting below the $69 per barrel, while Brent Crude was seen testing $72.50 levels.  Gold futures, however, climbed to $2,662 per ounce.