GIFT Nifty futures down 10 pts; markets to eye Fed impact, F&O expiry
GIFT Nifty signals a flat start as markets react to Fed's stance and F&O expiry. Nifty faces resistance at 23,400, with volatility rising. FIIs remain net sellers while rupee gains.
![GIFT Nifty futures down 10 pts; markets to eye Fed impact, F&O expiry](https://cdn.zeebiz.com/sites/default/files/2025/01/30/348925-9.png?im=FitAndFill=(1200,900))
GIFT Nifty on NSE IX traded lower by 10 points at 23,147, indicating a flat-to-negative opening for domestic equities on Thursday. Investors are expected to react to the US Federal Reserve’s policy outcome and shift focus to the January F&O expiry.
Wall Street dips post-Fed decision
US stocks closed lower after the Fed kept rates unchanged and provided little clarity on future cuts. The Dow fell 0.3 per cent, while the S&P 500 and Nasdaq lost 0.5 per cent each.
Asian markets mixed
Asian equities traded mixed as investors assessed the Fed's stance. Japan’s Topix declined 0.1 per cent, while Australia’s ASX 200 gained 0.4 per cent. S&P 500 futures were flat as of early Tokyo trade.
Technical outlook: Resistance at 23,400
The Nifty remains in a lower high-lower-low formation, indicating a bearish trend. A decisive move above 23,350-23,400 could break this pattern and signal further upside. Immediate support is at 23,000, according to Nagaraj Shetti of HDFC Securities.
India VIX climbs
The fear gauge, India VIX, rose 2 per cent to 18.56, suggesting heightened market volatility ahead of key events.
FII/DII flow
Foreign investors offloaded Rs 2,586 crore in equities, while domestic institutions absorbed Rs 1,793 crore worth of stocks on Wednesday. The net short position of FIIs eased to Rs 2.24 lakh crore from Rs 2.36 lakh crore the previous day.
Rupee inches higher
The rupee recovered from early losses to close 2 paise higher at 86.55 against the US dollar, aided by domestic market strength.
F&O ban list
No stocks are currently under the F&O ban.
Key triggers for the day
-
Reaction to Fed’s stance on rate cuts
-
January F&O expiry-driven volatility
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Earnings impact on mid and small caps
Markets may see choppy trade as traders navigate the Fed’s commentary and roll over positions ahead of the monthly expiry.
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