Shares likely to open higher

GIFT Nifty:

The Nifty 50 is projected to open higher, following a 46.50-point increase in the GIFT Nifty February 2025 futures contract.

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will announce its decision on benchmark interest rates today.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 3,549.95 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,721.66 crore in the Indian equity market on 6 February 2025, provisional data showed.

According to NSDL data, FPIs have sold shares worth Rs 5494.38 crore (so far) in the secondary market during February 2025. This follows their sale of shares worth Rs 81903.72 crore in January 2024.

Global Markets:

Asian stocks were mixed on Friday, following a quiet session on Wall Street as investors awaited the US jobs report for January. This report, due later today, is expected to provide further clues about the Federal Reserve's interest rate policy.

A robust labor market could strengthen the Fed's resolve to maintain current interest rates, as the central bank has indicated its intention to do, citing concerns about persistent inflation.

On Wall Street, the Nasdaq Composite gained 0.5%, while the S&P 500 added 0.36%. The Dow Jones Industrial Average underperformed, declining 0.28%.

Amazon.com Inc. shares fell over 4% in after-hours trading after the e-commerce giant projected first-quarter 2025 sales between $151 billion and $155.5 billion, missing analysts' expectations.

Domestic Market:

The domestic equity benchmarks declined for the second consecutive day on Thursday as investors awaited the Reserve Bank of India's (RBI) interest rate decision amid ongoing global trade tensions. The Nifty index closed below the 23,650 mark, with volatility fueled by the expiry of Nifty options contracts. While realty, consumer durables, and FMCG sectors faced losses, pharma and IT stocks bucked the trend and registered gains. Globally, fears of an escalating trade war subsided, and US Treasury yields softened.

The S&P BSE Sensex slipped 213.12 points or 0.27% to 78,058.16. The Nifty 50 index lost 92.25 points or 0.39% to 23,603.35.

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