Nifty futures were trading weak in early trade on Friday, down 54,50 points or 0.37 per cent on Singaporean Exchange, hinting at a gap-down down start for BSE Sensex and Nifty 50. Corporate earning, oil prices, COVID-19 vaccine rollout, rupee movement and other global cues are likely to sway the market today. Besides, Budget session will start from January 29, 2021, and Union Finance Minister Nirmala Sitharaman will present the Union Budget 2021 on February 1. “The market momentum is likely to continue on the sustained inflows and improving macros trends. Global cues will be watched closely for a further trend in the market. The Q3 results and Union Budget around 1st Feb will be some of the key events for the Indian market,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
FIIs remain net buyers: On Thursday, foreign institutional investors (FIIs) lapped shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs) sold shares worth Rs 188.1 crore on a net basis in the Indian equity market, according to provisional data available on the NSE.
Call, Put option data: Call Open Interest (OI) is maximum at 15000 strike with 24.34 lakh contracts, this is followed by 13.90 lakh contracts at 14000 strike. For the January series, most Put OI is placed at 14000 strike with 30.56 lakh contracts, followed by 21.21 lakh contracts at 13500 strike.
Results today: A total of 16 companies including HCL Tech, PVR Ltd, Shoppers Stop, L&T Finance Holdings, Hathway Cable and Aditya Birla Money, among others are scheduled to announce their October-December quarter earnings later in the day today.
Global watch: Asian stock markets were seen trading mixed in early trade on Friday. Japan’s Nikkei 225 fell marginally while the Topix index was down by 0.39 per cent. South Korea’s Kospi slipped nearly one per cent. Wall Street stock indices ended lower in overnight trade on Thursday. The Dow Jones Industrial Average fell 0.22 per cent, while the Nasdaq Composite dropped 0.12 per cent.
Two IPOs to open next week: IRFC and IndiGo Paint initial public offerings are set to open for subscription next week. Indian Railway Finance Corporation is the first IPO of the calendar year 2021 and looks to raise Rs 4,633 crore.
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