Market likely to open on firm note

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 31 points at the opening bell.

Global markets:

Overseas, Asian stocks are subdued Tuesday amid thin trading volumes. Several markets including Australia, New Zealand and Hong Kong were shut on account of Boxing Day.

US stocks gyrated to a mixed close on Friday as investors headed into the Christmas holiday weekend, having digested cooler-than-expected inflation data which firmed bets for Federal Reserve interest rate cuts in the new year.

Domestic markets:

Back home, the domestic equity indices closed with modest gains on Friday, with the Nifty settling near the 21,350 mark. The barometer index, the S&P BSE Sensex, advanced 241.86 points or 0.34% to 71,106.96. The Nifty 50 index added 94.35 points or 0.44% to 21,349.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,828.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,166.72 crore in the Indian equity market on 22 December, provisional data showed.

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