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Equity benchmarks Sensex and Nifty50 are expected to open in the positive zone in Tuesday’s session. At around 7 am, GIFT Nifty futures -- an early indicator of the 50-stock index -- were trading at 26,228, up 17 points or 0.06 per cent, suggesting a stable-to-firm start for the headline indices. The frontline indices are hovering near record highs, even as Indian markets have underperformed several Asian peers in recent sessions.
On the global front, the US and asian markets also witnessed positive gains, with major indexes traded higher.
Asian markets traded mixed on Tuesday morning, with Japan’s Nikkei 225 held steady at 50,411.00, up 8.61 points or 0.02 per cent. While Singapore’s Straits Times Index rose 9.37 points or 0.21 per cent to 4,515.06. Here is how the other indexes fared:
- Hong Kong’s Hang Seng advanced 111.42 points or 0.43 per cent to 25,807.17, driven by technology and financial shares.
- Taiwan Weighted Index gained 112.50 points or 0.39 per cent to 28,264.12, led by chipmakers and electronics stocks.
- South Korea’s KOSPI climbed 23.55 points or 0.57 per cent to 4,192.48, supported by exporters and auto shares.
- In Southeast Asia, Thailand’s SET Composite slipped 0.15 per cent to 1,268.06, while Indonesia’s Jakarta Composite edged higher 0.12 per cent to 6,855.70.
- China’s Shanghai Composite added 26.91 points or 0.69 per cent to 3,917.36, supported by policy measures aimed at stabilising growth.
US stocks also closed on higher note on Monday, providing a positive global cue for markets Indian markets.
- Dow Jones Industrial Average rose 227.79 points or 0.47 per cent to 48,362.68
- S&P 500 gained 43.99 points or 0.64 per cent to 6,878.49
- Nasdaq Composite added 121.21 points or 0.52 per cent to 23,428.83
In the US markets, the rebound was supported by Micron Technology’s strong forecasts and a cooler-than-expected US inflation report, according to Reuters.
Nvidia shares also advanced after the company indicated plans to ship its second-most powerful AI chips to China before the Lunar New Year. Overall, the PHLX Semiconductor Index rose 1.1 per cent, reflecting broad gains in chipmakers.
BSE Sensex Prediction: Know what market expert has expected for Tuesday's session
The Sensex maintained higher levels after its initial breakout, indicating continuation of positive momentum. The index remains above its short- and medium-term moving averages, reinforcing the bullish bias, according to Aakash Shah of Choice Broking.
Market breadth and volumes suggest genuine accumulation at higher levels, rather than isolated gains, he said.
From a technical perspective, Shah noted that 85,000–85,100 is likely to provide strong support, while 86,000–86,100 may act as immediate resistance. He recommended a buy-on-dips approach as long as key support levels hold.
Domestic markets closed on higher note in the previouss market session -- December 22 -- driven by strong foreign fund inflows and optimism around further rate cuts by the US Federal Reserve.
The BSE Sensex surged 638 points to settle at 85,567, while the NSE Nifty rose 206 points to close above the 26,100 mark at 26,172.
Most sectoral indices ended in positive territory, with IT, metals, capital goods, and financials leading gains, while real estate and consumer durables lagged. Heavyweight stocks, particularly in IT and select telecoms, supported the upside, reflecting broad-based buying rather than short-covering, analysts said.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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