Market Overview - Indian equities opened largely unchanged, with the Sensex rising 51 points (0.06%) to 84,731 and the Nifty 50 slipping 14 points (0.05%) to 25,874, as investors weighed mixed signals from global markets and inconclusive U.S. jobs data [15] - The broader market showed little conviction, with mid-cap and small-cap indices trading largely flat [15] Stock Performance - Among Sensex constituents, shares of State Bank of India, Bajaj Finance, and Tata Consultancy Services led the advance, rising between 1% and 1.5% [15] - Akzo Nobel India slid about 15% after reports indicated that Imperial Chemical Industries sold roughly 48.8 lakh shares in the company through a block deal [15] - RailTel Corporation of India climbed 2% on reports of potential partnership talks with Elon Musk-owned Starlink in India [15] Foreign Institutional Investment - Foreign Institutional Investors (FIIs) sold equities worth nearly Rs 2,382 crore on December 16, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1,077 crore [10] Currency and Commodities - The Indian rupee weakened in early trade, falling 12 paise to 91.05 against the U.S. dollar, a day after hitting a record low of 91.0750 [13] - U.S. crude futures rose 1.3% to $55.97 a barrel, while Brent crude gained 1.15% to $59.60, recovering some losses amid geopolitical risks and concerns over global demand [12][11] Economic Insights - The recent sharp fall in the rupee and crude oil prices has attracted investor attention, with a decline in crude due to poor demand from China and the U.S. being viewed positively for India's macroeconomic conditions [5] - Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that sustained rupee depreciation is accelerating FII outflows, negatively impacting the market [6] - There is a potential for FIIs to become buyers in India by 2026, especially if a U.S.-India trade deal occurs, which could lead to rupee strengthening in H1 2026 [7]
Sensex, Nifty flat at open after 2-day slide amid mixed global cues
The Economic Times·2025-12-17 04:00