GIFT NIFTY HITS TOWARD POSITIVE START TO EQUITIES ON D-STREET

GIFT Nifty:

The GIFT Nifty January 2025 futures contract is currently up 193 points, indicating a positive start for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 2,376.67 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,336.16 crore in the Indian equity market on 26 December 2024, provisional data showed.

According to the latest available data, FPIs have sold shares worth over Rs 9,120.81 crore (so far) in the secondary market during December 2024. This follows their sale of shares worth Rs 45,974.12 crore in November 2024.

Global Markets:

Markets in Asia markets traded in mixed fashion on Friday, as some markets return from the Boxing Day holiday and investors assessed economic data from the region.

China�s industrial profits extended declines to a fourth straight month, dropping 7.3% in November from a year earlier, signaling that Beijing�s stimulus measures have yet to meaningfully stem the slide in corporate earnings.

Investors assessed November inflation numbers from Tokyo, which saw its headline inflation rate come in at 3%, compared to 2.6% in October. Core inflation, which excludes costs of fresh food, rose to 2.4%. Tokyo�s inflation numbers are widely considered to be a leading indicator of nationwide trends.

Separately, Japan�s cabinet approved a historic budget of $732 billion for the fiscal year beginning in April, while restricting new bond issuance to its lowest level in 17 years, media reports stated. The approved budget is 2.6% larger than the current year�s budget. Overnight in the U.S., the Dow Jones Industrial Average erased earlier losses and squeezed out a small gain in thin trading Thursday after the market�s strong back-to-back gains at the start of the holiday week.

The Dow closed the day 28.77 points, or 0.07%, higher to 43,325.80 after losing about 182 points earlier in the session. The S&P 500 dipped 2.45 points, or 0.04%, to 6,037.59. The Nasdaq Composite also ended the day lower, falling less than 0.1% to 20,020.36.

Domestic Market:

The key equity indices ended near the flatline amid volatility on Thursday. The Sensex witnessed slight downturn to close above 78,400 mark while the Nifty managed to settle near the 23,750 mark.

The barometer index S&P BSE Sensex declined 0.39 points to end at 78,472.48. The Nifty 50 index, however, rose 22.55 points or 0.10% to close at 23,750.20. In the broader market, the S&P BSE Mid-Cap index added 0.11% while the S&P BSE Small-Cap index declined 0.24%.

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