By theindianinvestor 
Tuesday, 24 December 2024
Time : 8 :15 AM IST
insights :
1. Let’s understand yesterday’s market: Nifty gained 166 points, closing at 23,753.
2. Although Nifty was up by 0.7%, the small-cap index ended in the red, while the mid-cap index closed marginally in the green.
3. The market lacked strength as Nifty opened with a gap-up, rallied towards 23,900, but failed to sustain above the 200-day EMA on a closing basis. There was selling pressure at higher levels.
4. FIIs sold shares worth ₹168 crores, while DIIs bought shares worth ₹2,227 crores.
5. Interestingly, India VIX fell by 10% yesterday.
6. US markets closed higher yesterday, primarily driven by a rally in tech stocks.
7. Asian markets are trading mixed.
8. GIFT Nifty is indicating a flat start.
9. US bond yields are at 4.58%, and the dollar index is at 108.12.
10. Today, FII activity is expected to be minimal, leading to lower trading volumes.
11. Tomorrow is a holiday for the Indian markets.
12. Due to rising oil demand in India, crude oil prices were up nearly 0.6% yesterday, trading at $73.
13. Nifty has support at 23,500 and resistance at 23,800. A close above 23,800 is crucial to indicate further strength in the market.