By theindianinvestor 
Thursday, 20th Feb 2025
Time : 8:15 AM IST
insights :
1. Yesterday, Nifty closed almost flat, down by 12 points, to close at 22,932.
2. Broader markets showed strength:
Nifty Smallcap 100 gained 2.3%.
Nifty Midcap 100 gained 1.5%.
Nifty Next 50 gained 1.2%.
3. The selloff was seen in Nifty 50 heavyweights, mainly in IT and Pharma sectors.
4. Donald Trump announced a 25% tariff on automobile, semiconductor, and pharmaceutical imports from April 2.
5. India exports pharmaceuticals and IT services to the US, creating uncertainty in these sectors, leading to a decline in Pharma and IT stocks.
6. Markets remain volatile but are ending flat on a close-to-close basis.
7. Reports suggest that 1 in 5 portfolio managers held 10% of their portfolios in cash at the end of January, indicating caution or profit-booking anticipation.
8. US markets:
S&P 500 hit an all-time high. Today, the US Fed will release its FOMC meeting minutes.
9. US bond yields have slightly fallen, now trading at 4.52%.
10. Gold is trading near record highs at $2,964 per ounce as the Fed signals no rush in rate cuts.
11. FIIs sold nearly Rs 1,800 crores in the cash market yesterday but added some longs in index futures. Their short position stands at 84%.
12. Asian markets are trading lower.
13. GIFT Nifty is indicating a lower start for our markets, down by 60 points as of now.
14. Markets may remain volatile due to expiry-related moves.
15. Nifty support is expected around 22,700-22,800, and resistance around 23,000.