By theindianinvestor 
Friday, 21st March 2025
Time : 7:45 AM IST
insights:
1. Nifty gained 283 points and closed at 23,190.
2. Nifty Midcap 100 and Smallcap 100 closed around 0.7% higher, indicating that the index movement was driven by big players on expiry day.
3. Buying was seen primarily in index heavyweights like Reliance, Infosys, HDFC Bank, and Bharti Airtel.
4. US Fed Chairman Jerome Powell did not cut interest rates this time, but his statements were dovish. He mentioned expecting two more rate cuts this year, which led to a rally in US markets the day before yesterday and contributed to yesterday’s rally in Indian markets.
5. A surprising factor was the huge buying by FIIs net bought of ₹3,239 crores, while DIIs net sold ₹3,136 crores in the cash market.
6. FIIs are building long positions in index futures, covering shorts and adding longs. Their short positions now stand at 70%, down from 85% last week.
7. US markets closed in the red—S&P 500 was down by 0.2%, and Nasdaq fell by 0.3%.
8. Asian markets are trading mixed.
9. GIFT Nifty indicates a 45-point gap-up opening for our markets.
10. Infosys ADR is down by 2.75%, so Infosys may drag Nifty down by 30-40 points today. The IT sector may be a weak spot.
11. Accenture’s stock fell more than 7% despite beating earnings expectations for Q2 2025, due to weak guidance.
12. Nifty decisively crossed the psychological 23,000 mark, so 23,000 may act as support, while 23,300 could be a resistance level