Indian stock markets are set to open flat on Thursday, January 2, 2025, as indicated by the GIFT Nifty. The BSE Sensex and NSE Nifty 50 are expected to experience a steady start, following a strong performance on January 1. The BSE Sensex gained 368 points, or 0.47%, closing at 78,507.13, while the NSE Nifty rose by 98 points, or 0.41%, to end at 23,742.90.
Foreign and Domestic Institutional Activity
On January 1, Foreign Institutional Investors (FIIs) sold stocks worth ₹1,782.71 crore, with gross purchases of ₹1,237.02 crore and sales totaling ₹3,019.73 crore. Meanwhile, Domestic Institutional Investors (DIIs) recorded a net buying of ₹1,690.37 crore, with purchases of ₹8,536.97 crore against sales of ₹6,846.60 crore.
Global Market Performance
U.S. markets, including the S&P 500, Nasdaq Composite, and Dow Jones, were closed on January 1 for New Year’s Day, with trading set to resume on January 2. In their last session, the S&P 500 closed 0.47% lower at 5,878.91, the Nasdaq Composite dropped 0.93% to 19,305.25, and the Dow Jones Industrial Average fell by 418.48 points, or 0.03%, to 42,529.56.
Asian Market Trends
Asian markets are seeing cautious trading. Australian stocks were slightly lower, with the S&P/ASX 200 trading 0.2% lower at 8,175. Japan and South Korea’s stock markets were closed due to New Year’s Eve holidays. Meanwhile, concerns about China’s economic recovery have surfaced as the country’s manufacturing PMI fell short of expectations. U.S. stock futures are showing modest gains, suggesting a subdued start to the year after a strong 2024 performance driven by AI developments and lower interest rates.
Currency and Oil Movements
The US Dollar Index (DXY), which measures the dollar’s value against a basket of foreign currencies, rose by 0.07% to 108.52 on January 1. The Indian rupee closed at 85.64 against the U.S. dollar.
In commodity markets, WTI crude oil prices were up by 1.01% at $75.08, while Brent crude prices rose by 1.06% to $71.74 as of January 2 morning.
Key Global Market Movements:
GIFT Nifty (India): 23,842 (-56 points, -0.23%)
Dow Futures (US): 42,604 (+41 points, +0.09%)
Nasdaq Futures (US): 21,086 (+74 points, +0.35%)
DAX Futures (Germany): 20,038 (-14 points, -0.07%)
FTSE Futures (UK): 8,179 (-2 points, -0.02%)
Hang Seng Futures (Hong Kong): 19,695 (-393 points, -1.96%)
Taiex Futures (Taiwan): 22,880 (-164 points, -0.71%)
Kospi (South Korea): 2,397 (-2 points, -0.09%)
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