Nifty 50 and Sensex Poised for Muted Start as Markets Digest US Fed Decision

The Indian stock market is expected to open on a subdued note on Thursday, January 30, 2025, as investors process the US Federal Reserve's latest policy decision. GIFT Nifty futures trading near 23,150 suggest a flat to slightly negative start for domestic indices.

On Wednesday, the NSE Nifty 50 closed at 23,163.10, up 205.85 points (0.90%), while the BSE Sensex rose 631.55 points (0.83%) to 76,532.96. The market's recent relief rally faces headwinds as the Fed maintained its key interest rate at 4.25-4.50%, disappointing hopes for immediate rate cuts.

Key levels to watch for Nifty include support at 23,075 and resistance at 23,280. The index may trade in a range of 22,850-23,400, with the overall trend remaining bearish despite recent gains. Bank Nifty closed at 49,165, with support at 48,900 and resistance at 49,200.

Investors should brace for potential volatility due to the monthly F&O expiry and upcoming Union Budget. Sectors to watch include IT, metals, and real estate, which gained 2-3% in the previous session.

As markets navigate uncertain global cues and domestic events, traders are advised to maintain caution and adhere to strict stop-losses in the short term.

Source: Financial Express, Economic Times