Finance Minister Nirmala Sitharaman will table the Economic Survey 2024-2025 on January 31, 2025, after President Droupadi Murmu initiates the FY 2025-26 Budget session of the Parliament with an address to both houses.
Budget session of Parliament will commence today with Economic Survey 2025- Daily Market Update 31st Jan 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to positive note.
- European equity markets ended higher in range 0.4% to 1%.
- Asian equity markets are trading in green.
- GIFT Nifty is little changed, Nifty futures likely to open around 23420 levels.
Nifty Overview & Outlook
Benchmark Nifty index settled higher at 23250 levels after adding 86 points to its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices ended on a flat note.
Performance on the sectoral front was mix. Realty, Oil & Gas, Health Care and Pharma indices led the advances, gained in range 1.21% to 1.78%. On the other hand, Consumer Durables, FMCG and IT index led the declines, fell in range 1% to 1.84%.
Nifty index is trading in line with our expectations of sideways move with positive bias as mentioned in our previous updates. Going ahead, we reiterate our sideways view on Nifty index in 22800-23450 range. Cross and sustenance above 23450 will open the doors for next directional move.
Derivatives Overview & Outlook
Yesterday , Nifty, Banknifty and Finnifty futures shed 13.7%, 12.9% and 31.2% of open interest respectively as short covering whereas some long unwinding was seen in Midcapnifty futures with decrease in open interest by 10.7%.
Performance on the sectoral front was mix. Amongst them, short covering was seen among Automobile, FMCG, Oil & Gas, Pharma and Realty stocks, whereas some long unwinding was seen among Cement, Finance, Media and Technology stocks.
On option front, Nifty will start the new weekly contract of February series with a maximum position at 25950 CE followed by 25000 CE and 21100 PE followed by 23000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 4583 Cr in the cash segment, sold index futures worth Rs 4148 Cr bought stocks futures worth Rs 362 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2166 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 23350-23440; Supports 23150-23080
Banknifty – Resistances 49400-49600; Supports 49100-48900
Finnifty – Resistances 23200- 23300; Supports 23080-23000
F&O Security in Ban Today: NIL
Important Results Today : BANDHANBNK, CUB, EQUITASBNK, INDUSINDBK, LICHSGFIN, MARICO, NESTLEIND, PNB, RELAXO, UPL.
Disclosure
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