By theindianinvestor 
Friday, 7th Feb 2025
Time : 8:15 AM IST
insights :
1. Nifty fell by 93 points and closed at 23,603.
2. SBI reported mixed results, with NII missing expectations. The stock fell 1.8% after declaring results.
3. Markets are expecting a 25 bps rate cut from the RBI MPC meeting today. Investors will closely watch the commentary from the new RBI Governor, Sanjay Malhotra. If there is no rate cut, Bank Nifty could decline, potentially dragging Nifty lower.
4. ITC reported good results, and several brokerages have upgraded the stock price.
5. Nifty Midcap 100 fell by 1.3%, while Nifty Smallcap 100 was marginally down by 0.3%. Midcaps are under pressure.
6. US Markets ended mixed: Dow Jones fell by 0.28%, while Nasdaq gained 0.5%. Amazons results were below expectations.
7. Asian markets are trading marginally lower.
8. GIFT Nifty is almost flat, indicating a 10-point gap-up opening.
9. Markets may remain choppy until the RBI MPC announcement, expected around 10:00 AM.
10. US 10-year bond yields are flat, consolidating at 4.4%.
11. Dollar index is cooling off and consolidating around 107 levels.
12. FIIs sold over 3,500 crores in the cash market yesterday. Their net shorts in index futures increased to 84% from 80% earlier.
13. Nifty may find support around 23,500 and resistance near 23,800.