Indian equity, forex, money and commodity markets will remain closed today on account of Christmas.
On Wednesday, the markets ended on a weak note on December F&O expiry, as foreign investors hit the ‘sell’ button ahead of year-end holidays. Foreign institutional investors were net sellers by Rs 2,808.3 crore
Jayant Manglik, president (retail distribution), Religare Securities Ltd, said the Nifty would consolidate in a broad range of 8,050-8,450. In an emailed statement, he added investors could use declines to add to quality stocks.
US stocks were set for a modestly higher open on Wednesday on the heels of a five-day winning streak that pushed the Dow and S&P 500 to new closing records and on the latest piece of economic data indicating the economy is strengthening.
Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 280,000, its fourth straight week of declines, and below the forecast of 290,000.
The Dow closed above 18,000 for the first time ever on Tuesday and the S&P 500 ended at its 51st record of the year after an unexpectedly strong report on US economic growth.
The 51 new closing highs are the most since 1995 and fourth best in history. Equity markets will operate on a shortened trading schedule Wednesday, closing at 1 pm EST (1800 GMT) ahead of the Christmas Day holiday on Thursday.