Sensex Today | Share Market Live Updates: India stocks seen subdued; GIFT Nifty down, Asia declines

Sensex Today Live | Share Market Updates: Equities were on the backfoot as market optimism about early and aggressive US interest rate cuts ebbed ahead of the release of Fed minutes and jobs data. In Asia, investors will be monitoring Chinese tech stocks after Reuters reported that Beijing removed a top official who oversaw the nation’s gaming industry, suggesting the government is trying to tamp down a backlash against harsh new regulations that triggered an $80 billion rout across the sector.

Bonds worldwide also slumped Tuesday, with Treasury yields ending higher across the curve, led by the front end. The fall partly reflects doubts that policymakers will deliver the extent of monetary easing that’s priced by money markets, with central banks reluctant to give up the fight against inflation too soon.

Market focus is now on the Fed minutes for the December policy meeting due later in the day and a slew of data this week which could help justify its optimism of the aggressive policy easing that has been priced in. Futures have wagered on six rate cuts in 2024. The ISM survey on US manufacturing is also due later on Wednesday, as well as job openings data, before a private payrolls report and jobless claims results on Thursday.

The closely watched U.S. nonfarm payrolls report is due on Friday. Bitcoin rose 0.5% to $45,205, not far from a 21 month top of $45,922 hit on Tuesday. Oil prices were marginally higher after closing lower on Tuesday. US crude futures drifted 0.1% higher to $70.43 a barrel, after dropping more than 1% on Tuesday, while Brent LCOc1 was flat at $75.86 a barrel.

Spot gold was 0.1% higher at $2,060.18 an ounce. Sensex Today Live: Stocks to Watch , among others, will be in focus today. Delta Corp, Indian Energy Exchange, SAIL, Zee Entertainment Enterprises, Balrampur Chini Mills and Hindustan Copper are in the F&O ban list for 3 January. Sensex Today Live: GIFT Nifty lower in early deals GIFT Nifty futures traded at 21,680 as against the previous close of 21,754, indicating a weak start for the Indian stock market today.

At close on Tuesday, the Sensex was down 379.46 points at 71,892.48, and the Nifty fell 76.10 points to 21,665.80. Sensex Today Live: Asia stocks decline, in line with the pause in Wall Street rally Asian shares extended a global sell off on Wednesday while the dollar held gains as market optimism about early and aggressive US interest rate cuts ebbed ahead of the release of Fed minutes and jobs data.

MSCI's broadest index of Asia Pacific shares outside Japan fell 1.1% after a 1.0% drop the previous day in a sluggish start of the new year. Japan markets remain shut for a holiday. South Korean shares slid 1.8%, Australia's resources heavy stocks declined 1.1%, while Hong Kong's Hang Seng index fell 1%, driven by a 1.5% plunge in technology shares.

Overnight, Wall Street's euphoria about rate cuts prospects cooled a little as stocks retreated from record highs. The Nasdaq slid 1.6% and the S&P 500 lost 0.6%..