GIFT Nifty:

The GIFT Nifty January 2025 futures contract is currently up 70.50 points, indicating a positive start for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 2,575.06 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,749.65 crore in the Indian equity market on 6 January 2025, provisional data showed.

According to NSDL data, FPIs have sold shares worth Rs 7184.28 crore (so far) in the secondary market during January 2025. This follows their sale of shares worth Rs 2589.63 crore in December 2024.

Global Markets:

The Dow Jones index futures were down 6 points, signaling a flat-to-negative opening for U.S. stocks today, with focus remaining on key nonfarm payrolls data due later in the week.

Most Asian stocks climbed on Tuesday, mirroring overnight gains in U.S. technology shares. However, Chinese markets lagged after the U.S. added two major tech companies to a blacklist.

Regional markets drew positive momentum from a robust Wall Street session, where technology stocks rebounded from a sluggish start to the year. NVIDIA Corporation, an AI leader, surged to a record high ahead of CEO Jensen Huang's keynote address at the Consumer Electronics Show in Las Vegas.

The S&P 500 advanced 0.55% on Monday, while the NASDAQ Composite soared 1.24%. The Dow Jones Industrial Average underperformed, edging down 0.06%. Despite these gains, Wall Street indices remain under pressure due to concerns over a potential slowdown in interest rate cuts in 2025, driven by persistent inflation and a robust labor market.

Domestic Market:

The headline equity benchmarks witnessed a sharp decline on Monday, with the Nifty plunging below the 23,650 mark after an early surge. The benchmark index, which had touched an intraday high of 24,089.95, succumbed to selling pressure across sectors, particularly in PSU banks, realty, and metals. The sudden downturn in sentiment was attributed to the unexpected news of three Human Metapneumovirus (HMPV) cases being detected in India.

The S&P BSE Sensex plunged 1,258.12 points or 1.59% to 77,964.99. The Nifty 50 index tumbled 388.70 points or 1.62% to 23,616.05.

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