Market participants across the globe will hold their breath in the first half of the upcoming week for monetary policy decisions from major economies. The US Federal Reserve is scheduled to meet on March 18-19. Bank of Japan will also deliver its decision on interest rates on March 19 after a two-day policy meeting. The Bank of England’s Monetary Policy Committee will also make a decision about its benchmark bank rate on Friday.
India’s WPI and world’s three largest central banks announcement on interest rate to dictate the market move this week.- Daily Market Update 17th March 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 1.65% to 2.61%.
- European equity markets also ended higher in range 1% to 1.80%.
- Majority of Asian equity markets are also trading in green.
- GIFT Nifty is up by 150 points, Nifty futures likely to open around 22580 levels.
Nifty Overview & Outlook
Benchmark Nifty index ended on a flat to negative note at 22397 levels after a cut of 73 points from its previous closing values in an otherwise lackluster trading session.
Broader markets underperformed the benchmark as Mid and Small cap indices fell near around 1% each.
Most of the sectoral indices, barring PSU banks, ended in red. Amongst them, Realty, Media and Auto stocks were the worst performer, fell in range 1% to 2%.
Technically, Nifty index is trading in a range i.e. 22300-22600 congestion zone for past Six trading sessions. Going ahead, either side break from this range will open the doors for next short term directional move in that direction.
Derivatives Overview & Outlook
Last Friday, no significant change was seen among index futures on open interest front.
All F&O sectors settled lower. Amongst them, Chemical, Finance and Technology stocks witnessed maximum addition of short positions along with some long unwinding among Telecom and Pharma stocks.
On options front, Nifty will start the new weekly contract with maximum positions at 23500 CE followed by 22500 CE and 22000 PE.
Institutional Trading Activity
Last week, FIIs sold stocks worth Rs 2840 Cr in the cash segment, sold stocks futures worth Rs 2103 Cr and also sold index futures worth Rs 1389 Cr. DIIs were net buyers in the cash segment to the tune of Rs 5500 Cr during the week.
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
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