Today’s daily market preview highlights a strong Wall Street rally, with the Dow Jones up 0.86%, S&P 500 up 0.6%, and Nasdaq up 0.17%, driven by hopes for a Fed rate cut and softer jobs data.
Indian ADRs showed mixed performance: Infosys ADR gained 1.44%, ICICI Bank ADR rose 0.36%, HDFC Bank ADR edged up 0.08%, while Reliance Industries GDR fell 3%, reflecting global energy sector concerns and signaling key market trends India should watch.
Asian markets opened mixed: Nikkei up 1.4%, Hang Seng flat, Shanghai Composite down 0.16%, with Gift Nifty at 26,082, suggesting a cautious opening for stock market India as investors await the RBI policy decision.
Market catalysts today include high Fed rate cut expectations (87-90% chance for a cut on December 10th), ongoing US-India trade tensions, and a weaker rupee at 90 per dollar, all influencing market updates and sentiment.
Domestically, FII outflows have accelerated, with over ₹4,200 crore pulled out in early December, while domestic institutions bought ₹4,700 crore worth of shares; RBI policy uncertainty remains the top market catalyst for tomorrow.
Technical levels: Nifty support at 25,850 and 25,700, resistance at 26,100 and 26,250; Bank Nifty support near 58,900, with traders advised to play the range amid market trends India and event risk ahead of RBI decision.
Commodity moves: Crude oil at $59/barrel, gold at $4,218/oz, silver at $58.49/oz, supporting equities and reflecting global safe-haven demand.
Today’s tactical advice: Consolidation is expected, so traders should be cautious with long positions, respect support/resistance levels, and await RBI clarity for clearer market catalysts.