Indices may open weaker on Dec 19, 2024

19 Dec 2024 , 09:02 AM

Indian benchmark indices Sensex and Nifty 50 are expected to open on a weaker note on December 19, 2024. It was influenced by cues from GIFT Nifty, which was trading around 23,955.50 earlier this morning.

On December 18, the indices extended their losing streak for the third consecutive session. At the close, the Sensex declined by 502.25 points or 0.62% to settle at 80,182.20. Meanwhile, the Nifty dropped 137.15 points or 0.56% to finish at 24,198.85.

Asian stocks tumbling on Thursday, mirroring the overnight sell-off in U.S. equities. The Federal Reserve’s announcement of a 25 basis point rate cut to the 4.25%-4.50% range fell short of market expectations.

In its summary of economic projections (SEP), the Fed projected a total rate reduction of 50 basis points by the end of 2025, citing a robust labor market and a slowdown in inflationary pressures.

On Wednesday, U.S. markets experienced their steepest declines in months. The Dow Jones Industrial Average sank 1,123.03 points, or 2.58%, to 42,326.87. The S&P 500 dropped 178.45 points, or 2.95%, to close at 5,872.16, while the Nasdaq Composite plummeted 716.37 points, or 3.56%, to end at 19,392.69.