1157: Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 likely headed for flat start after record rally

Indian benchmark indices, Sensex and Nifty 50, are likely to make a subdued start on December 18, after record breaking rally across equity markets worldwide.

The handover has been strong from the US markets. However, Asian markets were subdued ahead of Japan's monetary policy decision later in the day, indicating a flat start for the Indian market.

India's GIFT Nifty was up 0.15% from its overnight close at 21,487 as of 8:15 a.m. IST, indicating that the Nifty 50 is likely to open around its Friday closing level of 21,456.65.

The Nifty and Sensex have gained about 6.6% so far this month, and are on course to their best monthly performance in 2023, with the Nifty closing at record highs in nine of 11 sessions.

Besides the easing global interest rate outlook, the rally has been driven by the Reserve Bank of India raising its fiscal 2024 growth forecast, return of foreign inflows, sustained domestic inflows, and moderation in oil prices.

Stocks to watch: Tata Power, Mazagon Dock Shipbuilders, PB Fintech, Zee Entertainment Enterprises among others

Tune in to the Marketbuzz Podcast for more cues