GIFT Nifty futures up 40 points; markets likely to open higher amid global cues
GIFT Nifty signals a positive start as global markets rebound, but volatility may persist amid Budget anticipation, Fed policy cues, and F&O expiry. Banking stocks could drive market momentum.
![GIFT Nifty futures up 40 points; markets likely to open higher amid global cues](https://cdn.zeebiz.com/sites/default/files/2025/01/29/348636-stock-market.png?im=FitAndFill=(1200,900))
Indian equity markets are set to open on a positive note on Wednesday, tracking gains in global markets. GIFT Nifty futures were trading 40 points higher at 23,028.50, indicating a steady start for benchmark indices. However, volatility is expected to persist as investors eye key events, including the upcoming Union Budget and the Federal Reserve’s policy decision.
Technical outlook: Key levels to watch
The Nifty50 remains under bearish control as long as it stays below the 23,000-mark on a closing basis. On the downside, immediate support is placed at 22,800, and a breach below this level could push the index towards 22,500. However, if the index manages to close above 23,000, some short-term relief could be expected.
Global markets: Tech stocks fuel recovery
Wall Street rebounded on Tuesday, led by gains in technology stocks, particularly Nvidia and other AI-linked firms. The Dow Jones Industrial Average rose 0.3 percent, while the S&P 500 and Nasdaq surged 0.9 percent and 2 percent, respectively.
Asian markets mirrored Wall Street’s recovery, with Japan’s Topix rising 0.5 percent and Australia’s S&P/ASX 200 gaining 0.8 percent in early trade. Meanwhile, European futures were largely unchanged as investors await further cues from global markets.
FII/DII activity: Domestic investors counter foreign outflows
Foreign institutional investors (FIIs) remained net sellers, offloading Rs 4,921 crore worth of equities on Tuesday. However, domestic institutional investors (DIIs) stepped in, buying shares worth Rs 6,814 crore, providing support to the market.
Rupee movement and India VIX
The rupee depreciated by 26 paise, closing at 86.57 against the US dollar, amid concerns over global trade policies. Meanwhile, India VIX, the volatility index, inched up 0.3 percent to 18.2, reflecting cautious sentiment among traders.
Outlook: Cautious optimism prevails
Despite a positive start, market volatility is expected to remain high due to key upcoming events, including the Union Budget, the Federal Open Market Committee (FOMC) meeting, and the F&O expiry. Investors are likely to focus on banking and large-cap stocks, while mid- and small-cap segments may remain under pressure due to valuation concerns.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/trending/news-bengaluru-traffic-woes-city-congestion-worsens-as-hsr-layout-flyover-shuts-for-metro-work-netizens-irked-bengaluru-traffic-update-346582](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352509-image-fotor-20250212141632-1.png?itok=eTuNO4X3)
'Bengaluru, absolute traffic hell...: City's congestion worsens as HSR Layout flyover shuts for metro work, netizens irked
![https://www.zeebiz.com/personal-finance/photo-gallery-gratuity-calculation-what-will-be-your-gratuity-on-rs-40000-last-drawn-basic-salary-and-5-years-2-months-of-service-know-eligibility-formula-step-by-step-guide-346680](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352619-gratuity.jpg?itok=a3CD9W7U)
Gratuity Calculation: What will be your gratuity on Rs 40,000 last-drawn basic salary and 5.2 years of service?
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-fd-schemes-for-general-and-senior-citizens-know-which-fixed-deposit-scheme-can-give-you-better-returns-on-rs-2-lakh-rs-4-lakh-rs-6-lakh-investments-sbi-highest-interest-rate-calculator-online-346838](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352791-sbi-3-year-fd-vs-sbi-5-year-fd.jpg?itok=CNpIrvkU)
SBI 3-year FD vs SBI 5-year FD: Know which fixed deposit scheme can give you higher returns on Rs 2 lakh, Rs 4 lakh, Rs 6 lakh investments
![https://www.zeebiz.com/personal-finance/photo-gallery-8th-pay-commission-basic-monthly-salary-pension-slab-calculator-can-basic-pension-cross-inr-rs-300000-barrier-in-new-pay-scale-see-calculations-to-know-projected-fitment-factor-index-7th-pm-modi-old-346525](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352430-note-coin-pixabay-take.jpg?itok=yDmxceKf)
8th Pay Commission: Can basic pension cross Rs 3 lakh mark in new pay commission? See calculations to know its possibility?
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-fd-vs-central-bank-of-india-444-day-fixed-deposit-which-can-provide-higher-maturity-on-rs-500000-700000-1000000-deposits-compare-interest-rates-for-maximise-returns-with-special-fd-346476](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352408-special-fd.jpg?itok=myx6xfFk)
SBI 444-day FD vs Central Bank of India 444-day FD: Which can provide higher maturity on Rs 5,00,000, Rs 7,00,000 & Rs 10,00,000 deposits?
![https://www.zeebiz.com/personal-finance/photo-gallery-ups-vs-nps-vs-ops-calculator-last-drawn-basic-salary-pay-inr-rs-100000-30-years-of-service-what-will-monthly-pension-for-central-government-employees-unified-national-old-system-india-official-portal-346336](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/11/352270-top-7-sip-mutual-funds-4.jpg?itok=F6h37i4L)
UPS vs NPS vs OPS: Last drawn basic pay Rs 100,000; pensionable service of 30 years; what can be your monthly pension in each?
![https://www.zeebiz.com/personal-finance/photo-gallery-dearness-relief-dr-pension-central-government-employee-calculator-calculations-is-your-basic-pension-rs-25000-35000-40000-50000-know-total-amount-AICPI-consumer-index-DA-benchmark-346424](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352375-untitled-design.jpg?itok=1_intAoD)
Monthly Pension Calculations: Is your basic pension Rs 25,000, Rs 35,000, or Rs 50,000? Know what can be your total pension as per latest DR rates
08:10 AM IST