Indian stock market: 9 key things that changed for market overnight - Gift Nifty, US markets to gold prices

Stock Market today: The Indian stock market benchmark indices, Sensex and Nifty 50, are poised for a strong opening on Friday, December 12, supported by upbeat global cues after the Dow and S&P 500 closed at record highs overnight following the US Federal Reserve’s rate cut.
Asian markets also rose following gains in Wall Street in response to the Fed’s decision, adding to the positive setup for Indian equities.
Gift Nifty trends also point to another robust start for domestic markets. Gift Nifty was trading near its record high at 26,134, up 108 points or 0.4% from the previous close of Nifty futures.
Back home, the Indian stock market snapped its three-day losing streak and staged a strong rebound on Thursday, December 11, after the US Federal Reserve cut interest rates by 25 basis points and indicated one more reduction next year. The Sensex climbed 427 points to 84,818.13, up 0.51%, while the Nifty 50 gained 141 points to settle at 25,898.55, rising 0.55%.
"Domestic markets rebounded broadly following the Fed’s expected 25-bps rate cut amid high U.S. inflation. The decline in U.S. 10-year yields indicates a moderation in future FII outflows, which bolstered sentiment. The auto sector excelled due to anticipated stronger demand, while IT gained traction on the prospect of increased spending. Conversely, other Asian markets experienced selling pressure over concerns about AI-driven valuations and rising Japanese yields, which negatively impacted overall domestic sentiment," said Vinod Nair, Head of Research, Geojit Investments Limited.
Here are key market cues for Sensex and Nifty today:
Asian Markets
Asian stocks were witnessed a mildly positive start on Friday after US markets — along with a broad global equity gauge — registered fresh record highs. Australia’s benchmark rose nearly 1% in early trade, following a 0.2% gain in the S&P 500 on Thursday. Futures for the US benchmark were largely steady, while Nasdaq 100 futures slipped 0.1%.
Thursday’s rally also pushed the MSCI All Country World Index, one of the widest global market barometers, to a new closing peak. The move, which followed the Federal Reserve’s widely expected rate cut, has put the global equity benchmark on course for its strongest year since 2019.
Gift Nifty Today
The trends on Gift Nifty also indicate a robust start for the Indian benchmark index. The Gift Nifty was trading near record high - at 26,134 level, up 108 points or 0.4% from the Nifty futures’ previous close.
Wall Street
US stocks climbed on Thursday, with the Dow and S&P 500 ending at record highs after the Federal Reserve cut interest rates and delivered a less hawkish outlook than anticipated. The S&P 500 logged its first record close in over a month as investors rotated into sectors such as financials and materials amid concerns over stretched valuations in high-flying AI stocks. The Nasdaq, however, closed lower, weighed down by technology shares following weak guidance from Oracle.
Despite tech weakness, the S&P 500 financial sector advanced 1.8%, while materials gained 2.2%. The Dow Jones Industrial Average jumped 646.26 points (1.34%) to 48,704.01, the S&P 500 edged up 14.32 points (0.21%) to 6,901.00, and the Nasdaq Composite slipped 60.30 points (0.25%) to 23,593.86.
Bank of Japan to hike rate next week
The Bank of Japan is set to raise its policy interest rate next week, marking a resumption of its tightening cycle for the first time since January, according to a Bloomberg survey of BOJ watchers. All 50 economists surveyed expect the central bank to lift its benchmark rate to 0.75% at the policy meeting concluding next Friday — the first unanimous call for a rate move under Governor Kazuo Ueda. The expected hike comes after months of caution, during which the BOJ assessed the economic impact of Donald Trump’s tariff measures.
US September trade deficit shrinks
The US trade deficit unexpectedly narrowed in September to its smallest level since 2020, according to delayed government data released Thursday, as imports rose only marginally while President Donald Trump’s new tariffs began to take effect. The overall trade gap shrank 10.9% to $52.8 billion, the lowest since the middle of the pandemic. The improvement came as exports climbed 3.0% to $289.3 billion, while imports inched up 0.6%, the Commerce Department reported.
Trump-Modi Talks
As speculation over an imminent trade deal between the two countries intensifies, Prime Minister Narendra Modi and US President Donald Trump held a phone conversation on Thursday to discuss expanding cooperation across multiple sectors. According to an official statement, the two leaders reviewed progress in the India–US strategic partnership and explored deeper collaboration in key areas such as trade, critical technologies, energy, defence and security.
Emphasising their satisfaction with the “strengthening of bilateral cooperation” across sectors, both leaders highlighted trade as a core priority and “underlined the importance of sustaining momentum in shared efforts to enhance bilateral trade.”
US Dollar hit multi-year low
The U.S. dollar tumbled on Thursday, sliding to multi-month lows against the euro, Swiss franc and sterling, extending the previous session’s decline. The Swiss franc strengthened after the Swiss National Bank kept interest rates unchanged, pushing the dollar down 0.6% and briefly to its weakest level since mid-November. The euro rose 0.4% to $1.1740, hitting its highest level since October 3, while sterling held flat at $1.3387 after touching a two-month peak. The dollar also softened against the yen, falling 0.3% to 155.61.
U.S. Treasury yields slipped for a second consecutive session following the Federal Reserve’s policy announcement.
Gold Prices
Gold slipped on Friday after touching a seven-week high in the previous session, as investors moved to book profits, even as silver continued its historic rally. Spot gold fell 0.2% to $4,277.64 per ounce as of 0029 GMT, while U.S. gold futures for February eased 0.1% to $4,307.80. Silver also dipped, losing 0.5% to $63.31 after hitting a record $64.31 on Thursday. The metal remains one of the year’s standout performers, soaring 119% year-to-date on the back of robust industrial demand, shrinking inventories and its recent inclusion in the U.S. critical minerals list. Among other precious metals, platinum edged down 0.2% to $1,691.45, and palladium declined 0.5% to $1,476.50.
Oil prices
Oil rebounded from its lowest close in nearly two months, supported by renewed optimism across global financial markets. West Texas Intermediate climbed toward $58 a barrel after a 1.5% decline in the previous session, while Brent settled above $61.
The upbeat sentiment helped counter a broadly bearish crude outlook. Oil prices have fallen nearly 20% this year amid concerns of a growing supply glut. On Thursday, the International Energy Agency reiterated its expectation of an unprecedented surplus—though slightly lower than last month’s estimate—and highlighted that global inventories have reached a four-year high.