US President Donald Trump on Monday signed an Executive Order designed to bring U.S. drug prices in line with those of other nations. According to the fact sheet released by White House, the order signals a renewed effort to curb what Trump has repeatedly called “unfair and inflated” prices borne by the US consumers.
Trump signs executive order to lower prescription drug prices for Americans- Daily Market Update13th May 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled sharply higher in range 3% to 4%.
- European equity markets on a positive note.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is down by 150 points, Nifty futures likely to open around 24920 levels.
Benchmark Nifty index opened with a big gap on the higher side, kept the bullish momentum rolling till the end to settle at 24925 levels after adding 917 points or nearly 4% amid easing geopolitical tensions between Indian and Pakistan and trade deal between USA and China.
Buying was seen across the board as Mid and Small cap indices soared over 4% each.
Performance on the sectoral front was no different. Nifty IT, Metal and Realty index was at the top of the tally, gained in range 5.8% to 6.7% followed by Auto, Banking, Fin Services, Media and Oil & Gas index that rose over 3% each.
Technically, Nifty index has witnessed a bullish breakout from the congestion zone on 23800-24600 spot levels setting up target around 25200 spot levels. Although, the kind of surge we witnessed yesterday generally follows some sort of congestion or profit taking. Hence, we suggest traders to adopt a buy on dip trading strategy till it is holding above 24375 spot levels.
Derivatives Overview & Outlook
Yesterday, all index futures moved higher on long buildup as Nifty, Banknifty and Finnifty futures added 4.8%, 6.4% and 3.8% of open interest respectively while no significant changes was seen in Midcapnifty futures on open interest front.
All the sectoral indices settled higher. Amongst them Cement, Chemical, Reality and Technology stocks witnessed maximum addition of long positions.
On options front, put writing was seen at multiple strikes along with call writing at far OTM strikes. Maximum positions are at 23000 PE followed by 24000 & 24500 PE and 26000 CE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 1246 Cr in the cash segment, bought index futures worth Rs 1211 Cr also bought stocks futures worth Rs 7074 Cr. DIIs were too net buyers in the cash segment to the tune of Rs 1448 Cr
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25200-25350; Supports 24900-24700
Banknifty – Resistances 56000-56200; Supports 55300-55000
Finnifty – Resistances 26800- 27000; Supports 26500-26400
F&O Security in Ban Today: CDSL & MANAPPURAM
Important Results Today: ABCAPITAL, ADVENZYMES, BHARTIARTL, CIPLA, HEROMOTOCO, METROPOLIS, MFSL, TATAMOTORS.
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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