Stock Market Today: After four consecutive sessions of decline following positive trends in global markets, Indian stock market benchmark indices Sensex and Nifty 50 are likely to open with gains on Friday, December 19. Softening US inflation data boosted the possibility of interest rate cuts by the Federal Reserve and less uncertainty in the technology sector supported US stocks, due to which Asian markets also witnessed a rise.
GIFT Nifty trends are indicating a positive start for the Indian benchmark indices. GIFT Nifty was trading near 25,933 levels, up 60 points or 0.236% from the previous close of Nifty futures.
Indian stock market indices - Sensex and Nifty 50 - continued to fall for the fourth consecutive session and the market closed almost flat with a slight decline on Thursday, December 18. Investor morale remained weak due to lack of new positive trends. The Sensex fell 78 points or 0.09% to 84,481.81, while the Nifty 50 fell 3 points or 0.01% to 25,815.55.
Markets were mixed, with the BSE Midcap index registering a marginal gain of 0.05%, while the Smallcap index declined 0.28%. Analysts believe that the domestic market still remains directionless and no new positive factors are visible to change the trend. Investors remained cautious throughout the session due to weak rupee, continued outflow of foreign funds and uncertainty over India-US trade deal talks.
There was no clear direction in the benchmark Sensex on Thursday as traders waited for a decisive move. Reflecting the market's bullish but cautious stance, Shrikant Chauhan, Head of Equity Research, Kotak Securities, said the index is currently stuck in a tight range and there are no strong signals intraday. He further said that the level of 8,4800 remains an immediate hurdle for the upside. “If the market trades above this level, it can go to 85,000-85,300.” Talking about downside, Chauhan called 84,300 and 84,100 as important support levels.
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