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GIFT Nifty: The GIFT Nifty January 2025 futures contract is currently up 12 points, indicating a positive start for the Nifty 50. Institutional Flows: Foreign portfolio investors (FPIs) sold shares worth Rs 3,318.06 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,572.88 crore in the Indian equity market on 17 January 2025, provisional data showed. According to NSDL data, FPIs have sold shares worth Rs 45498 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: Most Asian stocks rose on Monday, buoyed by hopes that U.S. President-elect Donald Trump may adopt a less aggressive stance toward China than previously feared when he assumes office later in the day. Regional markets took cues from Wall Street's strong performance on Friday. U.S. stocks rallied as robust bank earnings and expectations of interest rate cuts fueled investor optimism. The Dow Jones Industrial Average climbed 0.78%, hitting a new one-month high, while the S&P 500 rose 1.00%, and the NASDAQ Composite added 1.51%. Key performers included NVIDIA Corporation (+3.10%), Amazon.com Inc (+2.39%), and Goldman Sachs Group Inc (+2.11%). Investor sentiment improved further after Trump avoided mentioning trade tariffs during a victory lap rally in Washington on Sunday. However, he reiterated plans to crack down on immigration and reduce government oversight of domestic companies. Despite the optimism, uncertainty lingers. Fox News Digital reported that Trump is expected to sign a record number of executive orders upon taking office on Monday. While details remain unclear, some orders could potentially include increased trade tariffs against China. Previously, Trump had vowed to impose tariffs of up to 60% on Chinese imports and suggested similar measures targeting Mexico and Canada. Such policies could disrupt global trade and pose challenges for export-driven economies. Meanwhile, the People's Bank of China (PBOC) left its benchmark loan prime rate unchanged on Monday, as widely anticipated. Beijing appears to be holding off on new stimulus measures while awaiting greater clarity on Trump's trade policies. Lastly, U.S. markets will remain closed on Monday in observance of Martin Luther King, Jr. Day. Domestic Market: The key domestic equity indices ended with modest losses on Friday, snapping a three-day winning streak. The Nifty index closed below the 23,210 mark, weighed down by weakness in the IT and banking shares. Concerns over rising crude oil prices and a depreciating rupee added to investor worries. Persistent selling by foreign institutional investors further exacerbated the downward pressure. The S&P BSE Sensex tumbled 423.49 points, or 0.55% to 76,619.33. The Nifty 50 index lost 108.60 points or 0.47% to 23,203.20. In three consecutive trading sessions, the Sensex and Nifty rose by 0.38% and 0.51%, respectively. Powered by Capital Market - Live News |