Stock Market Today: The Indian stock market is expected to remain range-bound on Wednesday, with the Sensex and Nifty 50 likely to open slightly lower ahead of the US Federal Reserve’s policy decision due later today.
Asian markets were also range-bound but in the green, as investors awaited fresh signals on the Federal Reserve’s policy stance ahead of its final rate decision of the year.
Back home, the Sensex and Nifty 50 extended losses for the second consecutive session on Tuesday, December 9, amid weak global cues ahead of the US Fed policy outcome.
The Sensex closed 436 points, or 0.51%, lower at 84,666.28, while the Nifty 50 ended the day with a loss of 121 points, or 0.47%, at 25,839.65. The mid- and small-cap segments, however, erased losses and finished higher, outperforming the benchmarks. The BSE Midcap index ended 0.60% higher, while the Smallcap index jumped 1.27%.
“Domestic equities extending profit booking amid caution ahead of tomorrow’s US Fed policy decision, rupee weakness, persistent FII outflows, and ongoing uncertainty over the US–India trade deal. While the markets largely anticipate a 25-bps rate cut by the Fed, forward guidance for 2026 will be critical. In the near term, central bank commentary, currency movement, and FII flows will steer sentiment, while domestic macro resilience is expected to provide a cushion against downside risks,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Here are key market cues for Sensex and Nifty today:
Asian Markets
Asian stocks inched higher on Wednesday after a subdued session on Wall Street, with investors awaiting fresh signals on the Federal Reserve’s policy stance ahead of its final rate decision of the year. Japan and South Korea saw gains, with the Nikkei 225 futures up 0.2% and Japan’s Topix rising 0.6%, while South Korean shares also advanced. In contrast, Hang Seng futures slipped 0.2%, and Australia’s S&P/ASX 200 traded flat. European markets looked softer in early indications, with Euro Stoxx 50 futures down 0.3%.
Gift Nifty Today
Gift Nifty was trading around 25,907 level, a discount of nearly 24 points or 0.09% from the Nifty futures’ previous close, indicating a range-bound start for the Indian stock market indices.
Wall Street
Most major US stock indexes slipped on Tuesday ahead of an expected Federal Reserve rate cut, though investors also braced for potentially hawkish commentary from policymakers. The Dow Jones Industrial Average declined 179.03 points, or 0.38%, to 47,560.29; the S&P 500 eased 6.00 points, or 0.09%, to 6,840.51; while the Nasdaq Composite inched up 30.58 points, or 0.13%, to 23,576.49.
JPMorgan Chase shares dropped 4.7% after Marianne Lake, head of consumer and community banking, said the bank anticipates expenses rising to about $105 billion in 2026.
US Fed policy decision later today
All eyes are on the Federal Reserve’s policy announcement later today, December 10. While a rate cut is widely anticipated, several strategists expect sharp divisions within the committee. Markets have largely priced in a 25-basis-point cut despite mixed US macro data. CME’s FedWatch Tool shows traders assigning an 89% probability to a 25-bps reduction.
India US trade deal
India and the US will launch three-day discussions on the first phase of their proposed bilateral trade agreement from December 10. A delegation of US trade negotiators—led by newly appointed Deputy USTR Rick Switzer and India-deal chief negotiator Brendan Lynch—arrived in New Delhi yesterday ahead of the two-day talks beginning today, December 10. The meetings have revived optimism about finalising the long-delayed trade pact, whose absence has triggered steep tariffs on Indian goods and drawn criticism that Washington is pushing away a key strategic partner and a vital counterweight to China.
Paramount–Netflix Battle Escalates
Paramount Skydance Corp. and Netflix Inc. — two entertainment giants locked in a bidding war for Warner Bros. Discovery Inc. — are preparing for a showdown they expect will extend well into 2026.
Warner Bros. was given 10 business days to respond to Paramount’s hostile $30-a-share offer on Monday. Since the company has already rejected that bid once, the board is not planning to withdraw from the merger agreement signed last week with Netflix, according to people familiar with the matter. Exiting the deal would require Warner Bros. to pay Netflix a $2.8 billion termination fee.
Dollar
The US dollar and Treasury yields inched higher on Tuesday ahead of an expected Federal Reserve rate cut, even as investors braced for potentially hawkish signals from policymakers. Both gains followed fresh labour market data showing a modest rise in US job openings for October, while hiring remained subdued. The dollar index, which tracks the greenback against major currencies including the yen and euro, rose 0.15% to 99.22.
In the bond market, the yield on the benchmark US 10-year Treasury note climbed 1.4 basis points to 4.186%, after briefly touching a session low of 4.141%, and is set for its first four-session winning streak in five weeks.
Gold Prices
Gold prices climbed on Tuesday as traders stayed optimistic ahead of the U.S. Federal Reserve’s interest rate decision, while silver surged to an unprecedented $60 per ounce amid tightening supply conditions.
Spot gold rose 0.6% to $4,211.77 per ounce by 03:21 p.m. ET (2021 GMT), and U.S. gold futures for February delivery settled 0.4% higher at $4,236.20 per ounce.
Oil prices
Oil prices slipped again on Tuesday after a 2% decline in the previous session, as traders monitored peace talks aimed at ending Russia’s war in Ukraine, weighed concerns over ample global supply and awaited the U.S. interest rate decision.
Brent crude futures dropped 55 cents, or 0.88%, to $61.94 a barrel, while U.S. West Texas Intermediate crude fell 63 cents, or 1.07%, to $58.25 a barrel.
