By theindianinvestor 
Friday, 27 December 2024
Time: 8:15 am IST
insights :
1. Let’s understand yesterday’s market: Nifty gained 22 points, closing at 23,750.
2. Markets are trading in a rangebound manner, but there was a peculiar move around 1:30 PM. The market fell nearly 60 points within 5 minutes and regained 60 points in the next 10 minutes, likely due to big players’ moves on expiry day.
3. The RBI cut its projection for Q4 GDP from 7.2% to 6.5%. For the entire FY, growth estimates are now at 6.4%. This could be a positive signal for a potential rate cut, as lower GDP growth indicates a slowing economy, which may prompt the RBI to take measures to boost liquidity.
4. Another interesting observation yesterday was India VIX rising by 6.5%, closing at 14.04.
5. FIIs sold shares worth ₹2,300 crores, driven by a weakening rupee against the dollar and rising bond yields.
Today’s Cues:
6. US markets were marginally down, closing almost flat.
7. Asian markets are trading mixed, with Nikkei up by 1% and Kospi down by 1%.
8. GIFT Nifty is indicating a positive opening.
9. For three sessions, the market has rejected the 23,800 level. Closing above this level is crucial for an upward move, as the 23,800–23,850 range corresponds to the 200-day EMA.