NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on December 10

The Indian equity benchmarks are set to open lower on Wednesday, December 10, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad fell 56 points to 25,904 amid weak cues from most of the Asian markets.

The Indians equity benchmarks ended lower for a second straight session on Tuesday, December 9, dragged down by losses index heavyweights like ICICI Bank, HDFC Bank, Reliance Industries, Asian Paints, Infosys, Tata Consultancy Services and HCL Technologies.

The SENSEX fell as much as 720 points and NIFTY50 index touched an intraday low of 25,728 as investor sentiment took a knock after US President Donald Trump threatened he may introduce new tariffs on agricultural imports, especially on rice imports from India and fertiliser from Canada.

The markets, however, staged some recovery from lower levels and the SENSEX ended 436 points lower at 84,666 and NIFTY50 index declined 121 points to settle at 25,840.

Asian markets

Most of the Asian markets were trading lower as caution prevailed among traders ahead of US Federal Reserve interest rate decision following a weak session on the Wall Street.

Japan's Nikkei declined 0.24%, Hong Kong's Hang Seng fell 0.47%, South Korea's KOSPI dropped 0.06% and China's Shanghai Composite tumbled 0.6%.

Traders are anticipating a third consecutive Fed rate cut Wednesday, while the focus will be on the central bank’s latest dot plot, economic projections and comments from Chair Jerome Powell, news agency Bloomberg reported.

Volatility around the decision has been among the defining characteristics of equity trading in the past six weeks, superseding concern about a potential AI bubble and the impact of President Donald Trump’s trade policies.

Wall Street update

Overnight, US stocks ended on a sluggish note a day ahead of US Fed decision on interest rates.

Dow Jones Industrial Average fell 0.38%, S&P 500 declined 0.09% and tech heavy Nasdaq advanced 0.13%.

FII/DII activity

Foreign institutional investors sold shares worth ₹3,760 crore on Tuesday while domestic institutional investors bought shares worth ₹6,225 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹11,924 crore and for the calendar year they have been net sellers to the tune of ₹1,55,599 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

Civil Aviation Minister K. Rammohan Naidu, in a statement, also said that IndiGo CEO Pieter Elbers was summoned to the ministry to provide an update, and he "confirmed" that 100% of the refunds for flights affected till December 6 have been completed.

Earlier in the day, aviation safety regulator DGCA had issued an order, saying that IndiGo's flight schedule was being cut by 5 per cent.

The ministry considers it "necessary" to curtail the overall IndiGo routes, which would help in stabilising the airline's operations and lead to reduced cancellations, Naidu said.

Under the agreement, GIL becomes the exclusive distributor of Kivoro’s Heat Transfer Additive across the Republic of India, focusing on deployment within the corrugated paperboard sector—a fast-growing, efficiency-driven industry where thermal performance improvements can significantly reduce energy consumption and costs.

The newly commissioned transmission line will enable the evacuation of 1,000 MW of hydropower from the Tehri–Koteshwar generation complex in Uttarakhand to six northern states and three union territories (UTs), the firm said in a regulatory filing dated December 9.

The company allotted 1.28 crore equity shares at ₹145 each to institutional investors, including Arven, Vintage, PCC-Elite Capital Fund and Beacon Stone I, Ratnaveer Precision Engineering said in a statement.

The fresh capital will help Ratnaveer move forward with its plan to acquire European precision engineering companies, which have long-standing expertise in machining for automotive, aerospace and defence sectors.

According to a PTI report, NRI Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, offloaded over 1.52 crore shares (1,52,40,805) representing a 0.87% stake in JSW Energy, as per the bulk deal data available on the BSE.

The purchase consideration accounts for the payment against the equity value of Jayhawk and existing loans payable to the exiting shareholders, Anupam Rasayan said in a statement.

Accounting for about $16 million of cash and cash-like items for Jayhawk as of June, the purchase consideration translates to an enterprise value of about $134 million, the company said.

Jayhawk, part of the CABB group, posted revenues and adjusted EBITDA of about $78 million and $15 million, respectively, in 2024.

The company said its next phase of growth will come from our mass-market segments of state boards, foundations (Classes 6–10), and vernacular-language categories.

Trade setup

On the technical front, the NIFTY50 index formed a Doji candlestick pattern on Tuesday, indicating indecisiveness after the recent breakdown below 26,000. The index closed below the 20-SMA for the second consecutive session, indicating bearish sentiment in the near term.

On the options data front, the initial buildup for the coming weekly expiry indicates a range of 25,500 to 26,000. The 26,000 calls held the highest open interest, indicating a strong resistance for the 16 Dec expiry. While 25,500 puts held the highest open interest, indicating strong support for the current expiry.