{"id":54645,"date":"2025-01-03T02:35:50","date_gmt":"2025-01-03T02:35:50","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/01\/03\/sensex-nifty-seen-lower-at-open-after-strong-rally\/"},"modified":"2025-01-03T02:35:50","modified_gmt":"2025-01-03T02:35:50","slug":"sensex-nifty-seen-lower-at-open-after-strong-rally","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/01\/03\/sensex-nifty-seen-lower-at-open-after-strong-rally\/","title":{"rendered":"Sensex, Nifty Seen Lower At Open After Strong Rally"},"content":{"rendered":"
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Indian shares may drift lower at open on Friday after U.S. stocks fell for a fifth day running overnight, underscoring a cautious start to the year.<\/p>\n

A surging dollar and elevated U.S. Treasury yields may also weigh on markets<\/span> as signs of a resilient U.S. labor market provided support for the Federal Reserve’s measured approach to lowering interest rates.<\/p>\n

Benchmark indexes Sensex and Nifty jumped 1.8 percent and 1.9 percent respectively on Thursday, with auto stocks and financials leading the surge ahead of the upcoming quarterly earnings season.<\/p>\n

The rupee fell by 9 paise to close at 85.73 against the greenback due to strong dollar demand from importers.<\/p>\n

Asian stocks were mostly higher this morning, with Japanese markets closed for a holiday. Regional gains were driven by optimism surrounding potential interest rate cuts in China and positive news from South Korea’s tech sector. <\/p>\n

The People’s Bank of China plans to cut interest rates “at an appropriate time” this year, the Financial Times reported citing comments from the central bank. <\/p>\n

Technology stocks soared in Seoul after SK Hynix announced that it will showcase its innovative AI memory technologies at CES 2025, to be held in Las Vegas from January 7 to 10.<\/p>\n

The dollar headed for its best week since November, while gold was little changed, following a 1 percent gain the previous day. <\/p>\n

Oil extended gains after settling up by more than $1 a barrel on Thursday on optimism around China’s economy<\/span> and fuel demand after a pledge by President Xi Jinping to promote growth.<\/p>\n

U.S. stocks fluctuated before ending lower overnight and the dollar hit a two-year high after data showed weekly jobless claims unexpectedly dropped to an eight-month low, reigniting worries about high interest rates. <\/p>\n

Sentiment was also dented by Tesla’s annual sales drop and reports suggesting that Apple is offering some pretty huge discounts on its latest phones in China.<\/p>\n

The tech-heavy Nasdaq Composite and the S&P 500 both slipped around 0.2 percent, notching their fifth straight daily decline, the longest skid since April. The Dow dipped 0.4 percent.<\/p>\n

European stocks closed higher on Thursday, shrugging off early weakness as data showed the downturn in the euro zone and U.K. manufacturing sectors deepened at the end of 2024.<\/p>\n

The pan European STOXX 600 advanced 0.6 percent. The German DAX rose 0.6 percent, France’s CAC 40 edged up by 0.2 percent and the U.K.’s FTSE 100 added 1.1 percent.<\/p>\n

Energy stocks surged after a sharp increase in natural gas prices as the region braced for freezing winter temperatures without Russian supplies delivered via Ukraine. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n