First Trade: BSE Sensex opens 150 points down; Nifty50 slips below 24,750
Sensex slides 150+ points, Nifty50 below 24,750 as markets open weak; focus on Fed rate decision and PMI data.
Indian equity markets opened in the red on Monday as BSE Sensex dipped over 150 points, trading below 82,000, while Nifty50 slipped under 24,750. Investors await key global and domestic cues, including the Fed rate decision.
Market Update
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Opening session highlights
At 9:18 AM, the BSE Sensex was down 169 points at 81,964.22, a drop of 0.21 per cent. The Nifty50 traded at 24,728.20, shedding 40 points or 0.16 per cent. -
Technical outlook
Despite the dip, analysts remain optimistic, with targets potentially breaching 25,000 in the short term. On the downside, support is expected at 24,550. -
Key triggers
- Manufacturing and Services PMI data for India.
- The Federal Reserve's final meeting of the year is set to take place on December 18, with markets widely expecting a 25 basis point interest rate cut.
Global cues
- U.S. markets ended flat on Friday, with the S&P 500 and Dow reporting weekly losses, while the Nasdaq gained for the fourth consecutive week.
- Asian markets remained mixed, awaiting Chinese economic data.
Other highlights
- Oil prices eased from recent highs.
- The U.S. dollar stayed close to a three-week high.
- Eight stocks, including Granules, RBL Bank, and SAIL, remain under the F&O ban list.
Outlook
With strong technical support levels and a focus on global cues, markets could recover from early losses, provided global sentiment stabilizes.
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10:44 AM IST