The Indian equity benchmarks Sensex and Nifty 50 are set to open muted on Tuesday, December 16, tracking largely weak overnight cues from Asian markets after US stocks ended lower on Friday.

Asian markets edged down as investors cut risk exposure ahead of key US economic data that could offer clues on the interest-rate outlook, while the yen strengthened.

Moreover, Indian equities snapped a two-day winning streak on Monday, December 15, with the Sensex and Nifty 50 closing lower amid mixed global signals.

Domestic Market Recap

On Monday, Indian indices closed in the red:

• Sensex slumped by 54 points (0.06%) to close at 85,213.36
• Nifty 50 moved down by 20 points (0.08%) to settle at 26,027.30

Gift Nifty

Gift Nifty was trading near 26,085, around 5.5 points lower than the previous Nifty futures close, hinting at a muted start for Indian markets.

Overnight Wall Street Performance

The US stocks fell on Monday as continued selling in technology shares dragged major indices lower ahead of a busy week of economic data.

• The Dow Jones Industrial Average slumped by 41.49 points (0.09%) to close at 48,416.56.
• S&P 500 down by 10.90 points (0.16%), ending at 6,816.51.
• The Nasdaq Composite was lower by 137.76 points (0.59%), finishing at 23,057.41.

Gold Prices

• Spot gold was trading 0.46% lower at $4,286.00 per ounce.
• The US gold futures slumped by 0.50% to $4,313.55.

Crude Oil Prices

• Brent crude sank by 0.74% to $60.11/barrel
• US West Texas Intermediate (WTI) crude was trading 0.79% lower at $56.25/barrel

Overnight Major Global Events Driving Sentiment

1. India–US Trade Deal: India and the US are close to a framework agreement to ease reciprocal and punitive tariffs on Indian exports, Commerce Secretary Rajesh Agrawal said. He noted that talks are progressing rapidly, following a recent visit by a US delegation led by Deputy USTR Rick Switzer, though he did not commit to a timeline. The US currently levies up to 50% additional tariffs on India.
2. Ukraine Peace Talks: US President Donald Trump said a deal to end the Russia–Ukraine war is “closer than ever” after extensive discussions with Ukrainian President Volodymyr Zelensky and European leaders in Berlin, even as Russia has yet to respond.
3. US Dollar Movement: The US dollar slipped to a near two-month low in Asian trade as investors awaited key economic data, including the delayed November jobs report. The dollar index fell 0.2%, while the euro and pound held steady amid optimism around Ukraine peace efforts.

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