On an annual basis, headline inflation was at 2.8%, while core was at 3.1%. Both also were 0.1 percentage point below the Wall Street consensus and the previous month’s levels.
US CPI Inflation rate eased to 2.8% in February on annual basis – Daily Market Update 13th March 2025
Overview and Outlook
Global Stock Market Today
- US equity markets, barring Dow Jones, settled higher in range 0.49% to 1.22%.
- European equity markets ended higher in range 0.53% to 1.53%.
- Majority of Asian equity markets are also trading in green.
- GIFT Nifty is little changed, Nifty futures likely to open around 22570 levels.
Nifty Overview & Outlook
Benchmark Nifty index ended on a flat note at 22470 levels after a cut of 27 points from its previous closing values.
Mid cap index underperformed the benchmark, down 0.67%. On the other hand, Small cap index traded in line with the benchmark, fell 0.21%.
Performance on the sectoral front was mix. Nifty IT was the worst performer, fell nearly 3% followed by Media, Realty and PSU Bank index that fell over 1% each. On the flip side, Private Banks, Health Care and Financial services index led the bulls, gained over 0.5% each.
Technically, Nifty index is trading in a narrow range (22300-22680 spot levels) for past couple of sessions. An either side brake from this range will set the tune for next short term move in that direction. On the down side, 22300-22280 spot levels will provide immediate supports while positional supports are placed around 21980-21800 spot levels.
Derivatives Overview & Outlook
Nifty and Banknifty futures remained almost unchanged on price as well as on open interest front, Finnifty futures added around 13% of open interest as long buildup. On the other hand, Mid Cap Nifty futures fell on fresh short buildup as it added around 3.5% of open interest as fresh shorts.
On the sectoral front, long buildup was seen among Auto, Power and Infra stocks along with short covering in Oil & Gas stocks. On the other hand, short buildup was seen among Cement and IT stocks.
On option front, call writing along with some put writing was seen at multiple strikes. Maximum positions are at 22000 PE followed by 22300 PE and 23000 CE closely followed by 22600 CE. So far, options data is indicating towards a muted session with immediate supports around 22300-22280 spot levels and resistance around 22620-22650 spot levels.
Institutional Trading Activity
Yesterday, FIIs further sold stocks worth Rs 1628 Cr in the cash segment, sold index futures worth Rs 823 Cr and bought stocks futures worth Rs 586 Cr. DIIs further bought stocks worth Rs 1510 Cr in the cash segment.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 22650-22720; Supports 22480-22370
Banknifty – Resistances 48450-48700; Supports 47940-47700
Finnifty – Resistances 23415- 23520; Supports 23300-23200
F&O Security in Ban Today: BSE, HINDCOPPER, INDUSINDBK, MANAPPURAM and SAIL.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.
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