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Indian markets opened flat on Tuesday with BSE Sensex up 30.41 points and Nifty 50 remaining flat. Global markets showed mixed performance, with U.S. indices driven by tech stock rallies.
Sensex Today (Representative/PTI File)
Indian benchmark indices, BSE Sensex and Nifty 50, were trading in the green on Tuesday, supported by positive global cues.
By 1 PM, the BSE Sensex was up by 121.87 points, or 0.16%, at 78,662.04, while the Nifty50 gained 36.70 points, or 0.15%, to reach 23,790.15.
In the afternoon session, 18 of the 30 Sensex constituents were in the positive territory, with Tata Motors leading the gainers, up 2%. Other notable gainers included ITC, Mahindra & Mahindra, Nestle India, and Zomato. On the downside, Tata Steel saw the biggest loss, falling 1.31%, followed by IndusInd Bank, SBI, Bajaj Finance, and Titan.
On the Nifty50, 31 stocks were higher, with Adani Enterprises showing the strongest gain, rising 2.28%. Tata Motors, Trent, Dr. Reddy’s, and Britannia Industries also saw significant gains. Tata Steel led the losses on the index, down 1.38%, followed by JSW Steel, IndusInd Bank, SBI, and Hindalco Industries.
Sector-wise, the Auto index emerged as the top performer, rising 0.92%, followed by gains in the Oil, FMCG, and Realty indices. On the other hand, the Metal index was the biggest drag, falling 0.78%, while the PSU Bank index declined by 0.57%. The Nifty Bank and Financial Services indices were also under pressure, though the IT, Media, Pharma, Healthcare, and Consumer Durables sectors saw positive movement.
In the broader market, the Nifty Smallcap 100 index rose 0.41%, while the Nifty Midcap 100 was up by 0.26%.
Global Markets
Markets in the Asia-Pacific region were mixed on Christmas Eve, following overnight gains on Wall Street. Japan’s Nikkei 225 slipped 0.33% as minutes from the Bank of Japan’s October meeting revealed members agreed to continue raising rates if economic and inflation targets are met. The broader Topix index was marginally up by 0.01%.
South Korea’s Kospi declined 0.29%, while the Kosdaq rose 0.16%. Hong Kong’s Hang Seng index increased by 0.31%, and mainland China’s CSI 300 rose by 0.47%, with the Shanghai Composite up 0.26%. Australia’s S&P/ASX 200 climbed 0.35% in a shortened trading day.
On Monday, global equity markets gained, supported by Wall Street’s performance. U.S. Treasury yields climbed to a nearly seven-month high, while data indicated weakening U.S. consumer confidence, as investors prepared for fewer rate cuts by the Federal Reserve in 2025.
In U.S. equities, the Nasdaq and S&P 500 were primarily driven by rallies in major tech stocks like Nvidia and Broadcom.
The Conference Board’s U.S. consumer confidence index for December dropped to 104.7, falling short of expectations for an increase, signaling concerns about future business conditions.
New orders for key U.S. manufactured capital goods rose in November, but overall durable goods orders, including items from toasters to aircraft, fell by 1.1%, largely due to weak commercial aircraft orders.
US Market Performance
- The Dow Jones Industrial Average gained 66.69 points, or 0.16%, to close at 42,906.95.
- The S&P 500 rose 43.22 points, or 0.73%, to 5,974.07.
- The Nasdaq Composite increased by 192.29 points, or 0.98%, to 19,764.89.
MSCI’s global equity index rose by 5.51 points, or 0.65%, to 849.74, while Europe’s STOXX 600 index finished up 0.14%.
US markets will have a shorter trading day on Tuesday and will remain closed on Wednesday for Christmas.
US Treasuries and Oil:
U.S. 10-year Treasury yields rose to their highest level since late May, reaching 4.591%, with the 30-year bond yield up to 4.7791%.
Oil prices eased slightly in light pre-holiday trading, as concerns over a supply surplus next year and a stronger dollar weighed on the market. U.S. crude settled down 0.32%, or 22 cents, at $69.24 per barrel, while Brent crude fell 0.43%, or 31 cents, to $72.63 per barrel.
