Tuesday, February 4, 2025
Global Market Overview
- US Tariffs Impact: President Donald Trump’s recent tariffs on imports from Mexico, Canada, and China have heightened fears of a trade war. In response, Canada and Mexico have implemented retaliatory measures. Investors are now closely monitoring China’s potential actions following the Lunar New Year celebrations.
Market Recap
- Market Decline: On Monday, the Sensex dropped by 319.22 points (0.41%) to close at 77,186.74. The Nifty 50 also fell by 121.10 points (0.52%), ending at 23,361.05. Major contributors to this decline were Reliance Industries and Larsen & Toubro.
Technical Analysis
- Nifty’s Hammer Candle: The Nifty index formed a ‘hammer’ candlestick pattern on the daily chart, indicating demand and support around the 23200-220 level. Immediate resistance for Nifty is at 23420-450..
Foreign Institutional Investors (FII) Activity
- FIIs were net sellers in the cash market and in index F&O and stocks F&O.
- Foreign portfolio investors stayed net sellers of Indian equities for the 22nd straight session on Monday as they sold stocks worth approximately Rs 3,958.4 crore.
Stay informed and make well-considered investment decisions.
Note: This newsletter is for informational purposes only and should not be considered financial advice.
Leave a Reply