NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on December 12

The Indian equity benchmarks are set to open higher on Friday, December 12, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad surged 119 points to 26,128 amid positive cues from Asian markets.

The Indian equity benchmarks snapped their two-day losing streak on Thursday, December 11, led by gains in index heavyweights like JDFC Bank, Kotak Mahindra Bank, Reliance Industries, Eternal, Infosys, Tata Steel and Maruti Suzuki.

The benchmarks staged a gap down opening but soon staged a recovery and SENSEX rose over 750 points from the day's lowest level and NIFTY50 index touched an intraday high of 25,922 after hitting a low of 25,693 earlier in the session.

The SENSEX ended 427 points lower at 84,818 and NIFTY50 index declined 141 points to close at 25,899.

Asian markets

Asian markets were trading higher following a strong session on the Wall Street overnight after Dow Jones Industrial Average and S&P 500 surged to record high following a rate cut by the US Federal Reserve.

Japan's Nikkei rose 1.05%, Hong Kong's Hang Seng advanced 1%, South Korea's KOSPI surged 1.09% and Australia's S&P/ASX 200 index climbed 1.15%.

Wall Street update

The S&P 500 and Dow closed at record highs on Thursday on the back of a lesser than expected hawkish Federal Reserve policy update, even as the Nasdaq lagged amid renewed caution over AI-linked stocks.

Oracle shares plunged 10.8% after the company issued weaker-than-expected quarterly forecasts and flagged that annual spending would be $15 billion above prior plans. The update sparked fresh concerns about the scale and returns of its aggressive AI investments, making Oracle the biggest decliner in the S&P 500.

Dow Jones Industrial Average rose 1.34%, S&P 500 climbed 0.21% and tech heavy Nasdaq fell 0.25%.

FII/DII activity

Foreign institutional investors sold shares worth ₹2,021 crore on Thursday while domestic institutional investors bought shares worth ₹3,796 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹16,104 crore and for the calendar year they have been net sellers to the tune of ₹1,59,779 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

In a post on X, the minister noted that India continues to strengthen its exploration and production ecosystem. A key reform allows companies to access a wider set of rights under a single petroleum lease, enabling them to conduct all mineral oil–related activities without seeking separate approvals. Lessees can also undertake decarbonisation initiatives and other integrated energy projects at their fields.

The revised rules permit long-term leases of up to 30 years, with extensions based on field economics. Lessees are required to submit annual reports on infrastructure capacity and may jointly develop infrastructure assets.

Heat treatment capacity refers to a facility's ability to process steel to alter properties like hardness, toughness, and strength.

In a statement, Jindal Steel said, "It has become India's largest heat treatment player."

In a statement on Thursday, as reported by news agency PTI, the company said the amount was raised through a 7-year bond issuance at a competitive coupon of 6.98% on the SEBI-mandated electronic bidding platform.

The project SPV, Jejuri Hinjewadi Power Transmission Limited, will be developed on a Build-Own-Operate-Transfer basis to provide transmission services for 35 years from the Scheduled Commercial Operation Date (SCOD), set 24 months after the SPV transfer, a regulatory filing dated December 11 said.

In a regulatory filing dated December 11, the company stated that BVPL offers men-focused personal care products under the brand “Reginald Men”.

"This receipt of the successful bidder for the Genjana Nickel, Chromium and PGE Block under Critical Mineral Auctions Tranche III shall further strengthen the company’s critical minerals portfolio," the company said.

Trade setup

On the technical charts, the NIFTY50 looks to be taking support at the 50 day exponential moving average level (EMA) of 25,735 on the daily charts. However, the upsides remains capped as long as NIFTY closes below the shor term 20-day EMA level of 25,950.

On the options data front, 26,000 calls continue to hold the highest open interest, indicating a strong resistance for the current weekly expiry. However, 25,800 puts witnessed heavy open interest addition on Thursday, indicating a new support level for the near term.

IPO market update

ICICI Prudential Asset Management Company (AMC), an arm of the ICICI Bank, on Thursday said it has raised ₹3,022 crore from anchor investors, a day before the opening of its mega-initial share-sale for public subscription.

A wide range of foreign and domestic investors were allotted shares, including the government of Singapore, Abu Dhabi Investment Authority, Fidelity, Norges Bank, BlackRock, Aberdeen, Wellington, Capital World, J P Morgan Investment Management Inc., Goldman Sachs and Aranda Investments Pte. Limited, according to a circular uploaded on the Bombay Stock Exchange's (BSE) website.

Domestically, the anchor book also saw participation from the state-owned LIC and top mutual fund houses, such as SBI MF, Nippon India MF, Axis MF, HDFC MF and Aditya Birla Sun Life MF, among others.