Ahead of Market: 10 things that will decide stock market action on Friday
stocks, amid persistent foreign fund outflows and as cautious investor sentiment prevailed ahead of the December quarter corporate earnings. Additionally, concerns over fewer rate cuts in the U.S. further dampened sentiment.
The benchmark BSE Sensex lost 528.28 points or 0.68% to close at 77,620.21, while the broader Nifty 50 index closed at 23,526.50, lower by 162.45 points or 0.69%.
Here's how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said that the Indian stock market mirrored the decline across its Asian peers, with cautious investor sentiment driven by a sell-off in U.S. bonds, adding that the U.S. 10-year Treasury yield surged to its highest level since April 2024, signalling expectation of fewer rate cuts by the Fed.
“Further, disappointing inflation data from China added pressure, indicating that recent stimulus measures have failed to rejuvenate one of the world's largest consumer markets. Domestically, the FMCG sector outperformed, while other sectors declined, anticipating only modest improvement in Q3 earnings estimates, cautioning against high expectations," Nair added.
US markets
U.S. stock markets are closed Thursday for a National Day of Mourning for former President Jimmy Carter.
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