Dear
Trader…
Nifty future declined by 0.47% to 23,267.20, snapping a
three-day rally, pressured by persistent FII outflows, mixed Q3 earnings and
global uncertainty ahead of Donald Trump’s presidency. Key IT and banking
stocks dragged on account of cautious commentary from Infosys management and
weaker than expected results from Axis Bank. However, Nifty heavyweight
Reliance extended some support as it reported healthy growth in key business
segments during Q3FY25, with strong performances in Retail, and
Oil-to-Chemicals (O2C).
Domestic equities are expected to remain volatile with stock
specific action as the corporate earnings season for the third quarter is in
full swing. The December quarterly results together with management commentary
will be closely tracked by investors. Donald Trump’s swearing in as the 47th
president of the United States on Monday, 20th January and the following policy
announcements will have strong impact on the global market sentiments. Major
upcoming Q3 results include that of Kotak Mahindra bank over the weekend and
Zomato, Dixon, Oberoi Realty on Monday.
Nifty futures opened at 23344.90 points against the previous
close of 23377.55 and opened at a low of 23150.10 points. Nifty Future closed
with an average movement of 203.70 points and a decline of around 110.35 points
and 23267.20 points…!!
On the NSE, the midcap 100 index will rise 0.23% and smallcap
100 index is closing
rise 0.16%. Speaking of various sectoral
indices, the NSE saw gains in Oil & Gas, Realty, FMCG, Metal, Pharma, Healthcare,
Consumer Durables and Media stocks, while all other sectoral indices closed
lower.
At the start
of intra-day trading, February gold opened at Rs.79150, fell from a high of Rs.79194
points to a low of Rs.78757 with a decline of 360 points, a trend of around Rs.78866
and March Silver opened at Rs.92629, fell from a high of Rs.92629 points to a
low of Rs.91645 with a decline of 671 points, a trend of around Rs.92132.
Meanwhile, The
FIIs as per Friday’s data were net sellers in equity segment, while they were
net buyers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 11550.55 crore against gross selling of Rs
15891.79 crore. Thus, FIIs stood as net sellers of Rs 4341.24 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1953.40 crore with gross sales of Rs
1651.75 crore. Thus, FIIs stood as net buyers of Rs 301.65 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
841.12 crore, they stood at net buyers in Debt-VRR segment at Rs 992.16 crore,
while net buyers in Debt-FAR segment at Rs 150.61 crore.
In the
hybrid segment, the gross buying was of Rs 36.94 crore against gross selling of
Rs 17.52 crore. Thus, FIIs stood as net buyers of Rs 19.42 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23303 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 23373 – 23404 levels. Immediate support is placed at 23188 – 23088 levels.
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