GIFT Nifty:
The GIFT Nifty January 2025 futures contract is currently up 12 points, indicating a mildly positive start for the Nifty 50.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 7,170.87 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 7,639.63 crore in the Indian equity market on 9 January 2025, provisional data showed.
According to NSDL data, FPIs have sold shares worth Rs 15215.57 crore (so far) in the secondary market during January 2025. This follows their sale of shares worth Rs 2589.63 crore in December 2024.
Global Markets:
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U.S. stock futures point to a weak open Friday, with the Dow Jones Industrial Average futures down 111 points. This follows persistent concerns over a slower pace of interest rate cuts in 2025, exacerbated by upcoming nonfarm payrolls data that could provide further insights into the economy. The upcoming earnings season, kicking off next week with major bank reports, adds another layer of uncertainty.
Asian indices largely declined Friday, concluding a volatile first full trading week of 2025. Investor sentiment remains fragile amid concerns over slower U.S. rate cuts and the possibility of a rate hike by the Bank of Japan.
Japanese stocks extended their losing streak to three days as stronger-than-expected wages and private spending data increased expectations of a potential BOJ rate hike in January.
Weak inflation data from China, released earlier this week, further dampened sentiment, compounded by speculation regarding potential trade tariffs against the country.
Regional markets mirrored losses in global markets, as hawkish signals from the Federal Reserve this week reinforced expectations of slower monetary easing in 2025.
The U.S. market was closed Thursday to honor the passing of former President Jimmy Carter.
Domestic Market:
The domestic equity benchmarks declined on Thursday, mirroring a cautious mood in the market as investors held their breath ahead of TCS' quarterly results. Adding to the jitters, concerns about a potential slowdown in U.S. interest rate cuts cast a shadow over the sentiment. The Nifty slipped below the 23,550 mark, painting a somber picture. With the lone exception of the NSE FMCG index, every sectoral index on the NSE ended up wearing shades of red, signaling a broad-based sell-off. The S&P BSE Sensex dropped 528.28 points or 0.68% to 77,620.21. The Nifty 50 index tumbled 162.45 points or 0.69% to 23,526.50.
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