Stock Market LIVE: GIFT Nifty Hints At Negative Open; Bajaj Auto, Oil India, Railtel Corp Shares In Focus

Gold prices in India rose to Rs 1,30,430 and silver was up at Rs 1,81,850 on Thursday, according to the India Bullion Association as of 7:15 a.m. However, silver in the spot market was near its record high after hitting another record high in the previous session.

This comes after US payroll data reinforced hope that the Federal Reserve will cut interest rates in its final policy meeting of the year.

Foreign portfolio investors pulled out more money from the domestic equity markets in just two days of December compared to November. FPIs have taken out Rs 4,211 crore in December, while in entire November they sold Indian equities worth Rs 3,765 crore.

Markets in Japan rose as the Wall Street recorded gains on hopes of a rate cut in the upcoming policy meeting of the US Federal Reserve in December post weak private jobs data. Market participants also focused on Japan's 30-year bond auction.

The Nikkei 225 and TOPIX were trading 1.26% and 1.11% higher, respectively as of 7:02 a.m.

The GIFT Nifty was trading 0.04% or 9.50 points higher at 26,101.00 as of 6:32 a.m. However, the Indian benchmark indices are expected to open 36 points lower. Market participants may remain on the sidelines, awaiting the outcome of the Reserve Bank of India's Monetary Policy Committee meeting.

Bajaj Auto Ltd., Oil and Natural Gas Corp, Oil India Ltd., Railtel Corp, Arkade Developers Ltd., and Vedanta Ltd. shares will likely be in focus because of the overnight news flow.

Focuse will also be on the Indian currency as it weakened to a new low of 90.30 a dollar in the previous session.

The benchmark stock market indices fell for the fourth session with the Nifty 50 slipping below 26,000 mark to close 0.18% lower at 25986. While the Sensex settled flat at 85106.81.