Sensex, Nifty Set To Open Higher On Firm Global Cues

Indian shares may move in a tight range on Tuesday ahead of a market holiday on Wednesday for Christmas.

IT stocks could be in focus after a rally in some of the world’s largest technology companies, including Nvidia, Broadcom, Alphabet and Meta boosted U.S. benchmark indexes overnight.

Foreign portfolio investors sold shares worth Rs. 168.71 crore on December 23, while domestic financial institutions bought shares to the extent of Rs. 2,228 crores, according to NSE data.

Benchmark indexes Sensex and Nifty jumped around 0.6 percent and 0.7 percent, respectively on Monday after having fallen nearly 5 percent over the last week.

The rupee closed at a new low of 85.12 against the dollar due to month-end dollar demand.

Asian markets were seeing modest gains this morning, the dollar gained ground and gold held steady while oil prices exhibited a mixed trend in thin pre-Christmas trade.

U.S. stocks rose overnight and Treasury yields climbed to an almost seven-month high after the release of mixed economic readings.

A measure of U.S. consumer confidence deteriorated in December, while new home sales rebounded and core capital goods orders increased in November, separate set of data revealed.

The Dow added 0.2 percent to end higher for a third day running, while the S&P 500 climbed 0.7 percent and the tech-heavy Nasdaq Composite rallied 1 percent.

U.S. markets will close early today and will remain shut on Wednesday due to Christmas.

European stocks ended mixed on Monday amid worries about Trump’s tariff threats and continued political uncertainty in Germany and France.

The pan European STOXX 600 inched up 0.1 percent. France’s CAC 40 finished marginally lower and the German DAX slid 0.2 percent while the U.K.’s FTSE 100 edged up by 0.2 percent.

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