The Indian stock market is likely to begin Tuesday’s session on a softer note, as global markets slipped overnight and Gift Nifty hinted at a bearish start for the indices. The mood across Asia stayed weak, while Wall Street saw a sharp sell-off in major technology stocks ahead of key US data.
On Monday, domestic benchmarks closed in the green with broad-based buying supported by upbeat quarterly earnings and hopes of progress in the India-US trade agreement. The Sensex jumped 388 points to end at 84,950.95 and the Nifty 50 settled at 26,013.45, up 103 points.
Motilal Oswal’s Siddhartha Khemka said the market could continue seeing upward momentum thanks to strong earnings, supportive macros, and stable policies. But for today, early trends point to a cautious start.
1. Gift Nifty Signals Weak Opening
Gift Nifty hovered near 26,001, trading at a discount of about 59 points, suggesting a negative opening for the NSE Nifty 50.
2. Asian Markets Drop, Nikkei Slides Over 2%
Asia opened in the red following the US tech sell-off:
- Japan’s Nikkei 225 plunged 2.28%
- Topix slipped 0.6%
- South Korea’s Kospi fell 1.63%, Kosdaq dropped 0.58%
- Hang Seng futures pointed to a lower start
3. Dow Jones Falls 557 Points
Investors on Wall Street turned risk-averse ahead of Nvidia earnings and delayed US jobs data.
US market closing data:
- Dow Jones: -557.24 pts (1.18%) at 46,590.24
- S&P 500: -0.92% at 6,672.41
- Nasdaq: -0.84% at 22,708.08
Big tech stock moves:
- Nvidia: -1.88%
- AMD: -2.55%
- Apple: -1.8%
- Alphabet: +3.1%
- Dell Tech: -8.4%
- HPE: -7%
- Tesla: +1.13%
4. Trump-Backed Gaza Peace Resolution Passes at UNSC
The UN Security Council approved a US-drafted resolution supporting President Donald Trump’s Gaza peace plan and clearing the path for an international stabilisation mission in the region.
5. India-US Trade Deal Phase 1 Nearing Closure
According to officials, the first part of the India-US bilateral trade agreement is close to finalisation. It could help sort out the 50% tariff issues on Indian goods and improve market access for both nations.
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6. India’s Unemployment Rate Steady at 5.2%
The country’s October unemployment rate held unchanged at 5.2%:
- Rural unemployment eased to 4.4% (from 4.6%)
- Urban unemployment ticked up to 7% (from 6.8%)
7. Trade Deficit Widens to Record $41.68 Billion
Exports contracted 11.8% to $34.38 billion in October, while imports hit an all-time high of $76.06 billion, driven by higher purchases of gold, silver, cotton, fertilisers, and sulphur.
8. Dollar Strengthens, Yen Weakens
The US Dollar Index edged up to 99.545, with the yen slipping to 155.29 per dollar, its weakest level in over nine months.
Euro: $1.1594 (flat)
Sterling: $1.3149 (-0.1%)
9. Gold Prices Fall for Fourth Straight Session
A stronger dollar weighed on bullion:
- Spot gold: $4,038.43/oz (-0.1%)
- US December futures: $4,037.50/oz (-0.9%)
10. Crude Oil Trades Flat to Slightly Lower
Market weighed US sanctions on Russia against supply concerns:
Market Outlook
With weaker global sentiment and negative cues from Gift Nifty, domestic indices may see a mildly lower start. However, strong institutional flows, firm earnings, and improving macro indicators could limit downside pressure.
(With inputs from Reuters)
Disclaimer: This content is for informational purposes only and is not investment advice. Market investments involve risks. Consult a SEBI-registered advisor before investing.
