10 key things that changed for market overnight - Gift Nifty, Japan bond yields to Gold prices

By Admin

09 Dec, 2025

The global market mood turned cautious overnight as investors braced for the US Federal Reserve’s crucial policy decision. With Gift Nifty signalling a weak opening and Asian markets slipping, traders are preparing for heightened volatility. Here’s a detailed look at the 10 major cues shaping the market outlook today.

Weak Start for Indian Markets
Gift Nifty was trading near the 25,958 mark, showing a discount of about 82 points (0.3%) to the previous close of Nifty futures indicating a soft opening for Indian indices. The Sensex and Nifty 50 are expected to open lower ahead of the Fed’s rate decision.

Indian equities suffered a major setback on Monday (8 December), with widespread selling across sectors.

• Sensex fell 610 points (0.71%) to 85,102.69
  
  

• Nifty 50 dropped 226 points (0.86%) to 25,960.55
  
  

• BSE Midcap and Smallcap indices declined 1.73% and 2.20%, respectively
  
  

Over ₹7 lakh crore in investor wealth was wiped out as the total market capitalisation of BSE-listed firms fell to ₹463.6 lakh crore from ₹471 lakh crore. Currency weakness and persistent foreign outflows added pressure ahead of the Fed meeting.

1. Asian Markets
Asian stocks slipped as fears intensified over how aggressively the Fed may ease policy beyond this week’s expected rate cut.

• MSCI Asia-Pacific index dipped 0.2%
  
  

• Korea, Japan, and Australia opened lower
  
  

• US stock futures edged higher after the S&P 500 fell 0.3% Monday
  A broader global bond selloff pushed Australian yields higher as traders turned cautious before the Fed’s statement.
  
  

2. Gift Nifty Today
Gift Nifty hovered near 25,958, reflecting a 0.3% discount to Nifty futures. This signals a weak start for the Indian stock market on Tuesday.

3. Wall Street
US markets closed lower ahead of the Fed decision:

• Dow Jones: -215.67 points (0.45%)
  
  

• S&P 500: -23.89 points (0.35%)
  
  

• Nasdaq: -32.22 points (0.14%)
  
  

In corporate moves:

• Paramount surged 9% after announcing a hostile $108.4 billion bid for Warner Bros Discovery
  
  

• Warner Bros shares jumped 4.4%
  
  

• Netflix fell 3.4% after being outbid in the acquisition race
  
  

4. US Fed Rate Cut Expected Wednesday
Markets widely expect a 25 bps rate cut, with the CME FedWatch Tool assigning an 87.4% probability. But analysts warn the meeting could be unusually contentious due to divided views within the Federal Open Market Committee. Investors are looking for clues about whether the easing cycle will be limited.

5. Japan Bond Yields Near Multi-Year Highs
Japanese government bond yields hovered near 17-year highs as investors braced for a new auction and possible BOJ rate hike.

• 5-year yield: 1.445%, near highest since 2008
  
  

• 10-year yield: 1.965%, close to 18-year high
  
  

• 20-year yield: 2.955%, a record high
  
  

An earthquake in northeastern Japan further complicated market sentiment.

6. Nvidia Gets Approval to Sell H200 AI Chips to China
US President Donald Trump approved Nvidia to export its H200 AI chips to China with a 25% surcharge.

• Shipments only to “approved customers”
  
  

• Intel and AMD also permitted to supply chips
  This move could help Nvidia regain billions in business from China.
  
  

7. UK Retail Sales Slow
Despite Black Friday promotions, UK retail sales grew only 1.4% YoY in November the weakest since May.

• Like-for-like sales: +1.2%
  Demand for home appliances rose, but apparel and footwear sales remained weak amid low consumer confidence.
  
  

8. US Dollar & Treasury Yields Rise
The US dollar strengthened and Treasury yields climbed as traders positioned ahead of the Fed’s announcement.

• 10-year yield hit its highest since September
  The dollar gained against the yen, especially as the Japan earthquake raised doubts about the BOJ’s expected rate hike.
  
  

9. Gold Prices Hold Steady
Gold traded flat as markets awaited further signals on the Fed’s 2026 policy outlook.

• Gold: $4,192.69/oz
  
  

• Silver: $58.1045/oz
  
  

• Dollar index: +0.1%
  Rising Treasury yields capped bullion gains.
  
  

10. Oil Prices Stabilise
Oil steadied after a sharp decline.

• WTI: around $59/barrel
  
  

• Brent: above $62/barrel
  Markets await reports from the EIA, IEA, and OPEC for clarity on oversupply concerns.
  
  

Conclusion
With all eyes on the US Federal Reserve, global markets remain on edge. From rising Japan bond yields to cautious Asian trading and currency fluctuations, these 10 key developments are setting the tone for today’s session on Sensex and Nifty. The Fed’s rate outlook will be the ultimate driver of near-term market direction, influencing foreign flows, currency movements, and investor sentiment.