GIFT Nifty hints toward flat opening; FII selling continues unabated

GIFT Nifty:

Gift Nifty February 2025 futures contract is currently down 29 points, indicating a flat to mildly negative opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 4,582.95 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,165.89 crore in the Indian equity market on 30 January 2025, provisional data showed.

According to NSDL Data, FPIs have sold shares worth Rs 86,185.67 crore (so far) in the secondary market during January 2025. This follows sale of shares worth Rs 16,982.48 crore in December 2024.

Global Market:

The US Dow Jones index futures were currently in the green, signaling a positive opening for US stocks today.

Most Asian stocks advanced on Friday, mirroring the Wall Street rally as investors assessed big tech earnings.

The Tokyo consumer price index, excluding fresh food, rose 2.5% year on year in January, compared with 2.4% in the previous month. Japans unemployment rate for December fell to 2.4% from 2.5% in the previous month.

Additionally, Japans retail sales for December climbed 3.7% from the previous year, while its industrial output figures for December grew at 0.3%, month on month, from the 2.2% drop in the month before.

Hong Kong and Chinese markets remain closed for the Lunar New Year holiday.

Overnight, U.S. benchmark indexes ended with decent gains as investors assessed Apple's earnings report and other well-known companies earnings.

The US economy grew at an annualised rate of 2.3 per cent in Q4 2024, down from 3.1 per cent in Q3. Notably, US initial jobless claims fell by 16,000 to 207,000 for the week ending January 25th as compared with 223,000 in 18th Jan 2025.

The Dow Jones Industrial Average climbed 0.38% to close at 44,882.13, the S&P 500 rose 0.53% to end at 6,071.17 and the Nasdaq Composite gained 0.25% to end at 19,681.75.

Domestic Market:

The domestic equity indices saw healthy gains on Thursday, extending their upward trend for the third consecutive session. The Nifty ended near the 23,250 mark.

The barometer index, the S&P BSE Sensex, rallied 226.85 points or 0.30% to 76,759.81. The Nifty 50 index added 86.40 points or 0.37% to 23,249.50. In three consecutive trading sessions, the Sensex and Nifty added by 1.85% and 1.84%, respectively.

Realty and Oil & Gas shares jumped while consumer durables and media shares declined.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 6.70% to 17.39.

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