Photo Courtesy:business-standard.com/markets
Markets on New Year Day 2025 🎉🎊🍾
Wishing all a Very Happy and Wealthy New Year… May your Portfolio grow multiple times, may u get good IPOs with premium listing, and may whatever funds or shares u buy become Multi bagger!!
After a negative start, markets tried to rebound to positivity but ended slightly lower. Good signs but not good enough to recover!!
Market is likely to start from where it left yesterday… . Yes a slight flattish negative start is expected on first day of the New year and likely to move up.
Today nearly all world markets are closed, and today’s Indian market performance will be purely on its own.
Today Nifty may try to break 23700 levels and likely resistance is seen around 23900-24000 levels. If all goes good market should test these levels.
But on lower end a good support is placed at 23500-550 levels, which we even saw yesterday.
So a good sideways momentum is expected today.
Yesterday it seemed FII were managing money for new year party and sold heavily with net selling of minus 4645 cr. One of highest for this month.
But what saved the day was once again DII.. Who were net buyers for Rs 4547 cr
Some stocks in action today
ITC
India Tech
Kalpataru
Jagatjit industry
NCC
A big action wrt ITC demerger is happening. ITC has set the record date as 6 January for shareholders. Under this plan, ITC shareholders who hold the shares as on 06 Jan will receive one share of ITC hotels against every 10 shares of ITC.
New year brought some momentum in Gold and today gold was trading at 79200 levels. Silver also moved little up.
So all the best for the year and day ahead..
Hope to see positive end to the day as the Indian markets will be on their own and should move up to start new year strongly.
Happy Investing!!
Note: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
