Indices may open flat on Jan 08, 2025

8 Jan 2025 , 08:57 AM

Indian benchmark indices may open flat to positive on Jan 08, 2025. The GIFT Nifty was trading flat this morning around 23,732.5.

On Jan 07, the indices recovered some of their previous session losses and closed higher. At the close, the Sensex rose 234.12 points or 0.30% to 78,199.11. Meanwhile, the Nifty gained 91.85 points or 0.39% to 23,707.90.

ONGC, SBI Life Insurance, Tata Motors, HDFC Life, and Adani Enterprises were the top gainers on the Nifty. The top losers included HCL Tech, TCS, Eicher Motors, Hero MotoCorp, and Trent.

Except for IT, all sectoral indices closed in the green. Oil & gas, energy, bank, metal, and pharma sectors rose by 0.5-1%. The BSE Midcap index gained 0.7%, while the BSE Smallcap index jumped 1.7%.

Global markets:

Asian markets trading negative on Jan 8 followed by losses in US markets, as a selloff in Treasuries intensified. Investors also bet that the Federal Reserve might not cut interest rates before July due to inflation concerns.

US markets also closed lower after economic data sparked worries that an inflation rebound could slow the Federal Reserve’s easing of monetary policy.

The Dow Jones Industrial Average fell 178.20 points, or 0.42%, to 42,528.36. The S&P 500 lost 66.35 points, or 1.11%, to 5,909.03. Meanwhile, the Nasdaq Composite declined 375.30 points, or 1.89%, to 19,489.68.