Good Morning!
The NSE Nifty 50 is 19 points shy of scaling the 14,000 mark for the first time ever. As of closing on Wednesday, the 50-stock index was up 14.9% this year, making it the best annual return since 2017. This will also be the first instance when the index has gained for three straight quarters since 2017.
During the October-December period, the Nifty has gained over 24%, which will be its best quarterly performance since the April-June period of 2009.
Futures, however, are indicating that the index may open the final trading session of the year with a negative bias. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,033 as of 8:35 a.m.
Benchmark indices in Hong Kong and China are rising this morning while those in Japan and South Korea are shut due to the New Year holiday. The U.S. Dollar has continued to weaken, falling to the lowest in two-and-a-half years.
Futures on the Dow Jones are trading 30 points higher. The index rose 0.2% on Wedensday.
West Texas Intermediate crude fell 0.3% to $48.26 per barrel while bitcoin has surged past the $29,000 mark.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.