By theindianinvestor 
Monday , 13th January 2025
Time : 8:15 AM IST
insights :
1. On Friday, Nifty fell by 95 points and closed at 23,431.
2. The Nifty smallcap and midcap indices dropped by 2.6% and 2%, respectively.
3. The IT sector was the only one in the green, contributing +120 points to Nifty. If IT had been flat or negative, the fall would have been steeper.
4. FIIs sold ₹2,254 crores in the cash market, with their short positions in index futures standing at 84%.
5. US markets fell sharply on Friday, with the Dow, Nasdaq, and S&P 500 down 1.6%, 1.6%, and 1.5%, respectively.
6. The sell-off in the US was triggered by strong jobs data. Payrolls grew by 256k compared to expectations of 155k, the unemployment rate came in at 4.1% versus the expected 4.2%.
7. Strong jobs data raised doubts about the Fed’s rate cut path. Bank of America no longer expects rate cuts in 2025, and the odds of a March rate cut dropped to 25% from 41% earlier.
8. The US 10-year bond yield surged 149 bps, trading at 4.75%, its highest level since late 2023. The dollar index is trading at 109.6.
9. Brent crude reached a three-month high, trading above $79/bbl, following fresh US sanctions on Russian crude supplies.
10. Asian markets are trading in red this morning, reacting to the US jobs report.
11. GIFT Nifty indicates a 180-point gap-down opening for Indian markets.
12. India’s industrial growth (IIP) rose by 5.2% in November, a six-month high, showing signs of economic recovery after a disappointing Q2.
13. Nifty’s support is around the November low of 23,260.