By theindianinvestor 
Tuesday , 1st April 2025
Time : 8:30 AM IST
insights :
Sorry, i could not able to write blog last week as i was busy in travelling.
1. On Friday, Nifty fell by 72 points and closed at 23,519.
2. IT and Automobile sectors were the major draggers on Friday due to tariff fears, which are set to start on April 2.
3. GIFT Nifty is indicating a 160-point gap down.
Reasons for GIFT Nifty indicating a negative opening:
• On Friday, US markets ended negative as US inflation came above expectations.
• Yesterday, US markets closed mixed; at one point, Nasdaq was down more than 1% but recovered most of its loss and closed 0.1% lower.
• Goldman Sachs increased its probability of a US recession to 35% from the previous forecast of 20%.
• On Friday, FIIs net sold more than ₹4,000 crores, while DIIs net bought more than ₹7,000 crores in the cash market.
• To the surprise of many, on Friday, FIIs unwound long positions and added shorts. Now, their shorts stand at 65% in index futures.
4. The April series is likely to be a volatile one, as we have:
• April 2: Start of US tariffs
• April 9: RBI MPC meeting
• April 10: TCS quarterly results, followed by other companies reporting earnings
5. BSE shares gained nearly 17% on Friday as SEBI recommended keeping index expiries on Tuesday or Thursday, leading NSE to defer its plan to change the weekly expiry.
6. BSE declared bonus equity shares in the ratio of 2:1 on Sunday, with the record date yet to be finalized.
7. Asian markets are trading in the green this morning.
8. Gold is trading at all-time highs.
9. Brent crude is trading at $75/bbl versus its recent low of below $70/bbl, rising due to supply concerns from Russia and Iran.
10. The dollar index is trading around the 104 level.
11. The US 10-year bond yield is trading at 4.2%.
12. Global cues are not so good, but local cues might be positive. Markets are expecting a 25 bps rate cut by RBI MPC, and strong earnings results could also provide support.
13. Nifty can take support around 23,300 and may face resistance at 23,800.