FIRST TRADE: Sensex falls 705 points, Nifty down at 23,215
As markets temper Fed rate cut expectations following the US data, most Asian stocks fell.
Indian equities tracking weak Asian markets opened lower in Monday's session (January 13, 2025). At the start, the Nifty index gave up 0.92 per cent or 216.05 points to trade at 23,215.45, while the BSE 30-share Sensex lost 0.91 per cent or 705.43 points to 76,673.48
For India, the Brent crude rising to $81 is a concern. But the IIP data for November at 5.2% indicates that the economy is recovering from the slowdown in Q2, added Vijaykumar.
Technical outlook
Anand James, Chief Market Strategist, Geojit Financial Services said, "Being in close vicinity of the recent low of 23263, a downside break is imminent bringing 23000 and 22260 onto the radar. We will require a push above 23540 to signal strength, while a slippage towards 23000 could as well provide an opportunity for bulls to regroup."
Asian markets
The key MSCI Asia ex Japan index traded with a sharp cut of over 1 per cent. The steep cut comes as investors reevaluated the likelihood of U.S. interest rate cuts following stronger-than-expected jobs data released last week.
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