The US Federal Reserve has decided to keep interest rates steady, maintaining its benchmark rate in the range of 4.25-4.50%. Federal Reserve Chair Jerome Powell said that inflation remains a key concern, even though it has eased from its peak levels. He also mentioned that the US central bank will monitor economic data before deciding on any future rate cuts.
US central bank holds interest rates steady, projects growth slowdown – Daily Market Update 20th March 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.9% to 1.40%.
- European equity markets, barring DAX, ended in green.
- Majority of Asian equity markets are trading higher.
- GIFT Nifty is up by 80 points, Nifty futures likely to open around 23070 levels.
Nifty Overview & Outlook
Benchmark Nifty index settled higher for the third consecutive trading session, ended at 22907 levels after adding 73 points to its previous closing values.
Broader markets outperformed the benchmark by a big margin as both Mid and Small cap indices gained near around 2.5% each.
Majority of sectoral indices, barring IT and FMCG index which were down 1.08% & 0.55% respectively, ended in green. Amongst them, Nifty Realty was at the top of the tally, gained 2.80% followed by PSU Banks, Consumer Durables, Metals, Media and Oil & Gas index that rose in range 1% to 2%.
Nifty index is moving higher in line with our expectations as shared in our previous posts dated Mar 17 and Mar 18, 2025 and has almost reached the immediate resistance of 23000 levels. Cross and sustenance above 23000 will open the doors for further up move towards 23250-22300 spot levels. Hence, we suggest traders to continue with short term bullish approach with cautious stance till it is holding above 22600 spot levels on closing basis.
Derivatives Overview & Outlook
Yesterday, Banknifty and Finnifty futures further added 1.8% and 9% of open interest respectively as long buildup along with short covering in Midcapnifty futures with decrease in open interest by 2%. On the other hand, no meaningful activity was seen in Nifty futures on open interest front.
All F&O sectors, barring FMCG, ended in green. Amongst them, Chemical, Realty, AUTO and Textile stocks witnessed maximum addition of long positions along with some short covering among Banking and Pharma stocks.
On option front, put writing along with some call addition was seen at multiple strikes. Maximum positions are at 22500 PE and 23300 CE closely followed by 23000 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1096 Cr in the cash segment, bought index futures worth Rs 1992 Cr and also bought stocks futures worth Rs 479 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2141 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23100-23200; Supports 22900-22800
Banknifty – Resistances 49800-50020; Supports 49500-49200
Finnifty – Resistances 24300- 24420; Supports 24100-24000
F&O Security in Ban Today: HINDCOPPER, INDUSINDBK & 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.
AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited, Lakshya Impex Private Limited and Launchpad Fintech Private Limited are associates of GCML.
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