Mumbai: Indian stock benchmarks started Thursday’s session lower, marking the third consecutive decline. The Nifty 50 began trading 43 points or 0.17% down at 26,097, as the BSE Sensex slipped 175 points or 0.21% to 84,786.
Bank Nifty mirrored the benchmarks with a 0.17% drop, while midcap stocks eased 0.06%.
“The intraday trend looks range-bound right now, with traders likely awaiting a decisive move. On the upside, breaking 26,200 would signal strength for buyers, potentially driving the index to 26,260-26,300,” noted Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Ahead of the open, the GIFT Nifty traded 41 points or 0.16% lower at 26,185. Key pre-market indicators include domestic and global factors like crude oil prices, FII and DII activity, influential business groups, sectoral trends, and more. The previous day, Wednesday, saw the NSE Nifty 50 end 38 points or 0.14% lower at 26,140, with the BSE Sensex down 102 points or 0.12% at 84,961.
Asian Markets
Asian bourses showed mixed results Thursday morning, tracking Wall Street’s performance. Japan’s Nikkei 225 opened 0.46% weaker, and the Topix index fell 0.27%. South Korea’s Kospi rose 0.12%, with the small-cap Kosdaq up 0.1%. Hong Kong’s Hang Seng futures pointed lower at 26,348, versus the prior close of 26,458.95.
US Markets
US index futures traded flat overnight after the S&P 500 and Dow Jones Industrial Average ended three-day gains. On Wednesday, the S&P 500 declined 0.34% to 6,920.93, the Dow dropped 466 points or 0.94% to 48,996.08, and the Nasdaq Composite edged up 0.16% to 23,584.27.
Crude Oil
Crude oil prices climbed Thursday morning following U.S. President Donald Trump’s signing of a deal to import up to $2 billion in Venezuelan crude. WTI crude stood at $56.34, up 0.62%, while Brent was at $60.34, gaining 0.66%. The U.S. energy secretary emphasized the need for ongoing U.S. oversight of Venezuela’s oil sales and revenue to steady its economy and revive the oil industry.
US Dollar
The US Dollar Index (DXY), tracking the dollar against a basket of six major currencies including the British Pound, Euro, Swedish Krona, Japanese Yen, and Swiss Franc, dipped 0.01% to 98.72 on Wednesday morning. Meanwhile, the rupee strengthened 0.33% to close at 89.88 against the dollar on January 7.
FII, DII Data
Foreign institutional investors (FII)offloaded shares worth Rs 1,527.71 crore on January 7, 2025, per provisional NSE data. Domestic institutional investors (DII) countered with net purchases of Rs 2,889.32 crore.
Gold Rate Today
24-carat gold traded at Rs 1,38,260 per 10 grams, close to record highs, down 0.71% from the prior day. In Delhi, it fetched Rs 1,38,020 per 10 grams, while 18-carat gold stood at Rs 1,03,695.
Silver Rate Today
Silver rates in Delhi stood at Rs 263.45 per gram or Rs 2,63,453 per kilogram today.
Top Sectors in Wednesday’s Trade
Gems and Jewellery stocks led gains on Wednesday, boosting market cap by 4.1%, trailed by artificial intelligence, retail, and glass sectors. EV Charging stocks suffered the steepest losses.
Disclaimer: Content is for information only and may contain errors or omissions. Market data can change. This is not financial advice. Use at your own risk and consult certified advisors before investing. Mumbai Samachar is not liable for any loss arising from reliance on this content. Data sourced from NSE, BSE, and referenced agencies.