Stock Market today: The Indian stock market benchmarks, the Sensex and Nifty 50, are expected to open flat to slightly negative on Thursday, December 17, after three consecutive sessions of losses and weak cues from global markets.
Early indications from the Gift Nifty point to a subdued start, with the index trading around 25,871, down 15 points or 0.06% from the previous Nifty futures close.
Asian markets, meanwhile, were also lower mirroring the sell-off on Wall Street for the fourth straight session ahead of US inflation data.
The Indian stock market slipped for the third straight session on Wednesday, December 17, as ongoing concerns over the rupee’s persistent weakness, continued foreign fund outflows, and delays in finalising the India-US trade agreement kept investor sentiment subdued. The Sensex ended the day 120 points lower at 84,559.65, a decline of 0.14%, while the Nifty 50 dropped 42 points, or 0.16%, to close at 25,818.55.
“Global market signals remain mixed. Rising Japanese bond yields point to tighter liquidity and pressure on equity valuations, while soft U.S. labour data amplifies recession concerns and strengthens expectations of a more accommodative Fed. Domestically, the RBI’s efforts to stabilise the rupee lent support to rate-sensitive sectors. Foreign investors are pulling out funds, and emerging markets are struggling, while developed economies remain strong, showing that investors are becoming more cautious about emerging markets. Although currency stability offers temporary relief, global uncertainty and sustained foreign selling keep upside potential limited, leaving markets skewed toward a bearish bias,” said Vinod Nair, Head of Research, Geojit Investments.
Here are the key things that changed since the stock market closed yesterday and may impact Sensex, Nifty 50 movement today:
Asian Markets
Asian stocks opened lower on Thursday, mirroring the selloff on Wall Street as global markets shifted back into a risk-off mood driven by renewed weakness in technology shares. The downturn boosted demand for shorter-maturity Treasuries and precious metals, while dragging regional equities into negative territory. Shares in Japan and Australia slipped early, alongside declines in Hong Kong equity futures.
The tech-heavy Nasdaq 100 had dropped 1.9% overnight, with Nvidia sliding 3.8% to its lowest level since September, setting a weak tone for Asian trading. Hang Seng futures were down 0.6%, Japan’s Topix fell 0.5%, Australia’s S&P/ASX 200 dipped 0.3%, and Euro Stoxx 50 futures slipped 0.7%, underscoring broad caution across global markets.
Gift Nifty Today
The trends on Gift Nifty indicate a muted start for the Indian benchmark index. The Gift Nifty was trading near 25,871 level, down 15 points or 0.06% from the Nifty futures’ previous close.
Wall Street
US stocks extended their decline for a fourth straight session on Wednesday as a steep selloff in AI-linked stocks outweighed optimism around additional interest-rate cuts from the US Federal Reserve. The S&P 500 fell 1.16% to 6,721.43, the Nasdaq Composite slid 1.81% to 22,693.32, and the Dow Jones Industrial Average dropped 228.29 points, or 0.47%, to close at 47,885.97.
The tech sector dragged markets lower, led by Oracle’s 5.4% slide after the Financial Times reported that Blue Owl Capital had withdrawn financing for its planned $10 billion Michigan data center over debt concerns. Oracle disputed the report, saying the project remains on track, but the reassurance failed to stabilise sentiment. AI stocks also slumped, with Broadcom down over 4%, Nvidia nearly 4%, AMD more than 5%, and Alphabet losing over 3%.
US Fed Uncertainty
There is growing uncertainty in the US over when the Federal Reserve will deliver its next rate cut and who President Donald Trump will pick to replace Fed Chair Jerome Powell. Fed Governor Christopher Waller said on Wednesday that the central bank still has room to reduce rates as the job market weakens. But Atlanta Fed President Raphael Bostic struck a different tone, saying he did not believe last week’s rate cut was necessary and that he expects no further reductions in 2026.
US Dollar
The dollar held on to its gains against major currencies on Thursday as traders braced for a wave of central bank decisions in the UK, Europe and Japan. Sterling stayed under pressure after an unexpected drop in UK inflation strengthened expectations of a Bank of England rate cut. The yen strengthened 0.2% against the greenback to 155.45, trimming a 0.6% slide on Wednesday. The euro was little changed at $1.1743, while sterling was also steady at $1.3373 after a 0.4% decline in the previous day.
Gold Prices
Gold held steady just below its record high on Thursday as investors monitored geopolitical tensions in Venezuela and looked ahead to key US inflation data. The metal was trading near $4,340 an ounce, after rising 0.8% in the previous session, leaving it little more than $40 shy of its all-time peak set in October. Traders are now focused on Thursday’s inflation print, which could influence the Federal Reserve’s stance on additional rate cuts. Sentiment was also lifted by developments in Venezuela, where President Donald Trump ordered a blockade of all sanctioned oil tankers, adding to safe-haven demand.
Oil prices
Oil prices were up nearly a dollar in Asian trade on Thursday after President Donald Trump announced a blockade on tankers entering and leaving Venezuela and most exports from the country remained on hold.
U.S. West Texas Intermediate (WTI) crude was up 98 cents, or 1.7%, at $56.89 per barrel at 0120 GMT, after initially rising more than a dollar. Brent crude rose 92 cents or 1.54% to $60.60 per barrel