By theindianinvestor 
Monday, 24th March 2025
Time : 7:45 AM IST
Insights :
1. Nifty gained 159 points and closed at 23,350.
2. Last week, Nifty gained more than 1,000 points—an impressive short-covering rally.
3. On Friday, FIIs bought over ₹7,000 crores in the cash market, including block deals linked to the FTSE index rebalancing.
4. FIIs are covering their shorts and adding fresh longs in index futures. Their net shorts now stand at 68%.
5. Nifty Midcap 100 was the top-performing index, rising nearly 8% last week.
6. The Dollar Index is trading at 104, and US 10-year bond yields are at 4.27%.
7. The Rupee recorded its best weekly gain in over two years, now trading at 85.98 against the Dollar.
8. Markets may not continue in a ‘V’-shaped recovery like last week, as the rally was entirely driven by short-covering.
9. To sustain the rally, FIIs’ support is crucial. This week, it will be important to watch the FII/DII data to see if they have turned net positive. However, their selling spree has certainly slowed down this month.
10. US markets ended in green last Friday. Dow futures are trading positive this morning.
11. Most Asian markets are trading flat.
12. GIFT Nifty indicates a 50-point gap-up opening for our markets as of now.
13. This month, Nifty is likely to close in the green after five consecutive months of declines.
14. Market sentiment has turned bullish, but further movement depends on FIIs.
15. Nifty may take support around 23,300 and face resistance at 23,800.