Market News
Stock market today: Key things to know before the opening bell on January 3
2 min read | Updated on January 03, 2025, 14:15 IST
SUMMARY
Global markets closed negative bags over night, while cues from Asian markets remain mixed. Indian markets saw one of the best closing in over 6 months as NIFTY50 and SENSEX closed nearly 2% higher, led by strong buying in Auto and IT stocks.
Rising crude oil prices over night could see some impact on market sentiment on Friday.
The Indian benchmark indices made a solid start to the new year by closing positive for two consecutive days. NIFTY50 crossed the 24,000 mark, and SENSEX closed 1400 points higher on Thursday, marking one of the best gains in over 6 months. Markets are expected to continue the positive momentum on Friday as GIFT NIFTY traded 50 points higher at 7:30 am.
Globally, the markets closed mixed. US markets fell on the first trading session of 2025, led by losses in tech stocks. European markets closed in green across the board, with the UK’s FTSE gaining the most.
US markets
Dow Jones and S&P500 fell over a quarter of a percentage point on Thursday, and tech-heavy NASDAQ closed 0.16% lower. Tesla shares closed 6% lower after the company reported its first annual decline in sales in over a decade.
Asian markets
Asian markets traded mixed on Friday morning, taking cues from negative US markets. The Japanese and Chinese benchmark indices traded in the red, and Hong Kong and Korean markets traded in the green.
Oil prices
Globally, oil prices continued to firm up further as WTI crude oil prices surged past the $73 mark, and Brent crude prices closed 1.4% higher at the $76 per barrel mark. The oil price rally is largely attributed to lower US inventories and an optimistic outlook on the Chinese economic, which is the world’s largest importer of Oil.
FII and DII data
The FII turned net buyers on Friday with an overall buying of ₹1500 crore worth of Indian equities, and DIIs remained silent with little over ₹22 crore of buying. In the derivatives market, the Foreign investors covered some of their short positions on Thursday and now stand short with over 2 lakh contracts.
Chart check
NIFTY50 and SENSEX bounced back sharply from the 200 DEMA levels and rapidly recovered on Thursday. However, it took some resistance at 20 SMA levels on a daily chart basis. Going forward, 20 SMA levels on NIFTY50 and SENSEX at 24,179 and 80,0017 will remain in focus on Friday.About The Author
Next Story
