Dear
Trader…
Nifty future ended with loss of 140 points at 23,637(-0.59%)
on the back of weak global cues as US and Asian markets declined amid
uncertainty over US reciprocal tariffs to be imposed from 2nd April. Investors
will be awaiting the outcome of the US-India trade meet to be concluded on
Saturday. Amongst sectors, Nifty IT was the top loser, declining by 1.8%,
followed by Realty, Auto, Metal and Pharma indices falling between 0.5-1.5%
each.
We expect auto and auto ancillary stocks to remain under
pressure, given the weak domestic demand expectation across most segments in
Mar’25 and 25% tariffs imposed on US imports of cars and light trucks. On the
macro front, the US GDP grew at an annual rate of 2.4% in Q4CY24, up from the
previous estimate of 2.3%. However, there are increasing concerns that a
growing range of tariffs imposed by Trump, could hamper businesses and fuel
economic slowdown.
Markets will track the US CPI for February to be released
later today. Market will closely monitor the outcome of the ongoing US-India
trade talks and are expected to remain in consolidation mode with a positive
bias on hopes of continued FII buying interest.
Nifty futures opened at 23775 points against the previous
close of 23777 and opened at a low of 23560 points. Nifty Future closed with an
average movement of 241 points and a decline of around 140 points and 23637 points…!!
On the NSE, the midcap 100 index will decline 0.32% and smallcap
100 index is closing decline 0.15%. Speaking of various sectoral indices, the
NSE saw gains in only FMCG and Private Bank stocks, while all other sectoral
indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.88673, fell from a high of Rs.89060
points to a low of Rs.88605 with a rise of 555 points, a trend of around Rs.88939
and May Silver opened at Rs.101689, fell from a high of Rs.102040 points to a
low of Rs.101280 with a rise of 482 points, a trend of around Rs.101785.
Meanwhile, The
FIIs as per Friday’s data were net buyers in equity and debt segments both,
according to data released by the NSDL In equity segment, the gross buying was
of Rs 28676.45 crore against gross selling of Rs 20555.49 crore. Thus, FIIs
stood as net buyers of Rs 8120.96 crore in equities.
In the debt
segment, the gross purchase was of Rs 4922.12 crore with gross sales of Rs
4384.86 crore. Thus, FIIs stood as net buyers of Rs 537.26 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
865.62 crore, they stood at net sellers in Debt-VRR segment at Rs 947.38 crore,
while net buyers in Debt-FAR segment at Rs 2350.26 crore.
In the
hybrid segment, the gross buying was of Rs 14.98 crore against gross selling of
Rs 18.34 crore. Thus, FIIs stood as net sellers of Rs 3.36 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23707 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 23770 – 23808 levels. Immediate support is placed at 23474 – 23404 levels.
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