By theindianinvestor 
Thursday, 13th Feb 2025
Time: 8:45AM IST
insights ;
1. Yesterday, Nifty closed marginally lower, down by just 26 points, and remained above 23,000.
2. At the opening, Nifty fell 250 points but later recovered all losses. The initial fall was due to fears over tariffs.
3. Monthly Mutual Fund SIP data for January has been released, SIP contributions remain strong, similar to December.However, a significant number of SIPs were canceled in January compared to December.
4. India’s CPI inflation for January dropped to a five-month low of 4.31%, which is positive as it raises expectations for a possible RBI rate cut in April.
5. India’s IIP data for December stood at 3.2% compared to 5.2% in November, indicating a slowdown in industrial output.
6. The U.S. CPI inflation data came in above expectations at 3% (vs. the expected 2.9% year-on-year).
7. Due to this, U.S. markets ended lower.
8. Asian markets are trading higher, driven by positive developments in Russia-Ukraine peace talks.
9. Brent crude oil fell 2.2% yesterday and closed around $75 per barrel.
10. GIFT Nifty indicates a positive start for our markets.
11. Over the last two days, Indian markets have been overreacting to tariff concerns, while most Asian markets remained stable.
12. This suggests that Indian markets are lagging behind other global markets.
13. Yesterday, FIIs sold more than Rs 4900 crores in cash market.
13. Nifty formed a double bottom around 22,800, which can act as strong support. Immediate support can be 23000 and Resistance is expected around 23,300.