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Market Opening Cues
Indian equity markets are set for a muted start on Monday, January 12, 2025, as indicated by the GIFT Nifty futures trading flat to negative. The futures contract opened at 25,809, down 0.03%, reflecting cautious sentiment ahead of key global and domestic economic data. This follows a sharp sell-off on Friday, January 9, where the Sensex shed over 600 points to close at 83,576, and the Nifty 50 declined nearly 194 points to settle at 25,683.
Global Market Performance
Major global benchmarks presented a mixed picture. US equity markets concluded Friday's session on a high note, with all three major indices – the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average – hitting fresh record closes. The S&P 500 advanced 0.65% to 6,966.28, the Nasdaq Composite gained 0.81% to 23,671.35, and the Dow Jones Industrial Average rose 0.48% to 49,504.07. In Asia, markets traded higher on Monday, with Australia's S&P/ASX 200 up 0.71% and South Korea's Kospi gaining 0.83%. Japan remained closed for a public holiday.
Commodity and Currency Watch
Precious metals dominated early trade, with gold prices reaching record highs. Spot gold surged over 1% to hit its first record high of 2026 at $4,563.61 per ounce, while MCX February 5, 2026 gold futures traded at ₹1,38,875 per 10 grams. Silver also experienced a significant uptrend, hitting fresh highs, with geopolitical uncertainty cited as a driver for renewed buying in these safe-haven assets. Crude oil prices saw modest gains, with US benchmark WTI rising 0.49% to $59.41 a barrel and Brent crude up 0.41% to $63.62 a barrel on Friday. The US Dollar Index dipped slightly to 99.13, while the Indian Rupee appreciated 0.14% to close at 90.17 against the dollar on January 9.
Institutional Flows and Sector Performance
Foreign institutional investors (FIIs) continued their net selling streak, offloading Indian equities worth ₹3,769 crore on Friday, January 9, 2025. Conversely, domestic institutional investors (DIIs) provided a cushion, buying shares worth ₹5,596 crore during the session. In the last trading session, non-ferrous metal stocks showed strength, rising 1.51%, followed by paints and pigments (+0.48%) and petroleum stocks (+0.36%).