Dear Trader…
Domestic equity benchmarks ended slightly lower on Friday, with the Nifty future slipping 0.29% to close at 24,871, amid cautious global cues and broad-based sectoral weakness. The broader markets were all weak, with both Nifty Midcap100 and Smallcap100 marginally down by 0.1% each, as selling pressure was seen across IT, Metal, and Auto sectors. Nifty PSU Bank index stood out, gaining 2.9%, while Nifty Metal dropped 1.7%, hurt by weakness in global commodity prices.
In key macro developments, India’s GDP growth for Q4 accelerated to 7.4%, beating street estimates of 6.7%, while the full-year FY25 growth came in at 6.5%. This reaffirmed India’s position as the world’s fastest-growing economy. Globally, concerns over economic growth persisted after the US economy contracted 0.2% in Q1CY25, albeit slightly better than the expected -0.3%, raising questions around future Fed policy moves.
Next week, interest rate-sensitive sectors – particularly PSU banks – are likely to remain in focus amid growing hopes of an RBI rate cut. Additionally, the release of monthly auto sales and volume data could trigger sector-specific moves in the automobile space. We expect markets to maintain its positive momentum in June on the back of strong Q4 GDP numbers, hopes of RBI rate cut and consistent institutional inflows.
Nifty futures opened at 24940 points against the previous close of 24942 and opened at a low of 24840 points. Nifty Future closed with an average movement of 147 points and a decline of around 71 points and 24871 points…!!
On the NSE, the midcap 100 index will decline 0.06% and smallcap 100 index is closing decline 0.03%. Speaking of various sectoral indices, the NSE saw gains in only PSU Bank and Media stocks, while all other sectoral indices closed lower.
At the start of intra-day trading, June gold opened at Rs.94951, fell from a high of Rs.95270 points to a low of Rs.94700 with a decline of 289 points, a trend of around Rs.95100 and July Silver opened at Rs.97252, fell from a high of Rs.97859 points to a low of Rs.96800 with a decline of 103 points, a trend of around Rs.97723.
Meanwhile, The FIIs as per Friday’s data were net sellers in equity segment, while they were net buyers in debt segment, according to data released by the NSDL. In equity segment, the gross buying was of Rs 19085.70 crore against gross selling of Rs 20843.93 crore. Thus, FIIs stood as net sellers of Rs 1758.23 crore in equities.
In the debt segment, the gross purchase was of Rs 30660.73 crore with gross sales of Rs 1867.51 crore. Thus, FIIs stood as net buyers of Rs 28793.22 crore in debt. Of the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs 29178.61 crore, they stood at net sellers in Debt-VRR segment at Rs 91.07 crore, while net sellers in Debt-FAR segment at Rs 294.32 crore.
In the hybrid segment, the gross buying was of Rs 14.85 crore against gross selling of Rs 13.54 crore. Thus, FIIs stood as net buyers of Rs 1.31 crore in hybrid segment.
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