By theindianinvestor 
Monday, 30 December 2024
Time : 8:15 AM IST
insights :
Let’s understand Friday’s market:
1. Nifty gained 63 points, closing at 23,813.
2. Markets traded with very low volumes on Friday.
3. Both midcap and small-cap indices closed in the red, down by about 0.3%.
4. Nifty closed within the 23,800–23,850 range, which is a resistance zone. However, the low volumes indicate a lack of strength and do not signal bullishness.
5. The rupee fell to an all-time low of 85.85 during Friday’s session, possibly due to FII outflows and the strengthening of the dollar.
6. FIIs sold shares worth ₹1,300 crores on Friday.
7. US markets closed in the red on Friday, impacted by technology stocks. The S&P 500 fell by 1.1%, while the Nasdaq 100 dropped by 1.4%.
8. Asian markets are trading mixed this morning, with Nikkei down by 0.75% and Kospi up by 0.6%.
9. GIFT Nifty is indicating a flat start.
10. The dollar index is trading at 108, down from its recent highs. However, US bond yields remain a concern, with the 10-year yield trading at 4.63%.
11. Nifty is trading just above 23,800, but with low volumes. The market’s short-term direction may become clearer after the New Year.
12. The expected range for this week is 23,500–24,000.