Nifty 50, Sensex today: What to expect from stock market indices in trade on December 8

livemint.com:

RBI) as equity benchmarks Nifty 50 and Sensex snapped their seven-day winning streak in the previous session. Profit booking in select heavyweights, sell -off by foreign investors amid weak global cues contributed to the fall in markets on Thursday, December 7. Nifty 50 index closed at 20,901.15, down 37 points, or 0.17 per cent and the 30-share Sensex settled 132 points, or 0.19 per cent, lower at 69,521.69.

However, Nifty 50 is up 3 per cent on the week after frontline indices witnessed a record-breaking run in the last few days on strong macroeconomic fundamentals and expectations of political stability. Crude oil prices fell on Thursday to six-month lows, as investors worried about sluggish energy demand in the US and China. Global market cues suggest a flat start for Nifty 50 and Sensex today.

The trends on Gift Nifty indicate for the Indian benchmark index. The Gift Nifty was trading around level as compared to the Nifty futures’ previous close of 21,033.85. Also Read: RBI Monetary Policy: Rate pause may continue on GDP print, CPI inflation; Key indicators to watch Now, the market focus has shifted to the monetary policy outcome by RBI's rate-setting panel and the US Federal Reserve.

While, RBI Governor Shaktikanta Das will unveil the policy decisions at 10:00 am today, the US Federal Reserve is set to announce its policy outcome next week on Wednesday, December 13. According to the majority of economists on D-Street, the RBI would keep its key repo rate unchanged at 6.50 per cent, continuing its hawkish stance. Analysts also do not expect the central bank to change its stance from ‘withdrawal of accommodation’.