1159: Marketbuzz Podcast with Reema Tendulkar: Sensex, Nifty 50 set for muted open after steep drop

Indian benchmark indices, Sensex and Nifty 50, are likely to open flat on December 21 after closing a percent lower in the previous session, which led to the worst session in nine months.

India's GIFT Nifty was trading at 21,143 as of 8:15 am, indicating the NSE Nifty 50 is likely to open near its previous close of 21,150.15.

In the previous session, the Nifty and BSE Sensex shed 1.41% and 1.30%, respectively, as selling pressure emerged across public sector banks, information technology, energy and metal stocks after a recent rally. Despite the fall, however, the Nifty is still up 5.05% in December so far, and is likely to post its second-best month in 2023.

On the global front, Asian shares opened lower after a drop in Wall Street equities overnight ahead of US third quarter growth data on December 21 and a key inflation reading on December 22.

Stocks to track in the domestic market include Cochin Shipyard, Mazagon Dock Shipbuilders, Zee Entertainment Enterprises and Astrazeneca Pharma India.

Tune in to the Market Podcast for more cues