BSE Sensex and Nifty 50 were eyeing at the negative opening on Friday, as suggested by trends on SGX Nifty in early trade.
BSE Sensex and Nifty 50 were eyeing at the negative opening on Friday, as suggested by trends on SGX Nifty in early trade. So far this month headline indices have gained nearly 3 per cent while, the broader markets have marginally underperformed the benchmarks. Market particpants will closely watch foreign fund inflows, upcoming IPOs, crude oil prices, movement in rupee against dollar, other global developments. On Thursday, equity markets were closed on account of Mahashivratri.
SGX Nifty in red: Nifty futures were trading 30 points or 0.19 per cent down at 15,398 on Singaporean Exchange. BSE Sensex and Nifty 50 are likely to open in the negative territory today. In this holiday truncated week so far, headline indices ended in green for the third straight session on Wednesday.
- Weekly F&O outlook: Bank Nifty must top 36,000 for Nifty to top 16,000; key support, resistances this week
- F&O watch: Nifty support at 15,400-15,600; Bank Nifty remains neutral; check Nifty trading strategy
- Weekly F&O expiry: How to trade Nifty, Bank Nifty on expiry day? Trade setup, likely trading range, outlook
Anupam Rasayan IPO opens today: The Rs 760-crore Anupam Rasayan initial public offering (IPO) is set to open for subscription on Friday, 12 March 2021, at a price band of Rs 553-555 per share. Ahead of the IPO, the speciality chemical company raised Rs 225 crore from anchor investors.
FII and DII trends: On Wednesday, foreign institutional investors (FIIs) offloaded shares worth Rs 15.69 crore, while domestic institutional investors (DIIs) lapped shares worth Rs 447.67 crore in the Indian equity market, according to the provisional data available on the NSE.
Global watch: Asian stock markets were trading mostly higher in early trade on Friday, taking cues from Wall Street as US stocks climbed to record highs overnight. Australian shares rose as the benchmark ASX 200 added 0.93 per cent. Japan’s Nikkei 225 rose 1.12 per cent while the Topix index traded up 0.89 per cent. On Wall Street, the S&P 500 and the Dow Jones Industrial indices hit all-time highs as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims reinforced expectations of a labour market recovery. The Dow Jones Industrial Average rose 0.58%, the S&P 500 gained 1.04%, and the Nasdaq Composite added 2.52 per cent.
Technical talk: Technically, the market on Wednesday closed above the level of 15150/51250, which could maintain the market’s bullish continuation. “We may see at least 15280 or 15350 levels in the near term. However, if the Nifty / Sensex fails to break the 15280 level, it may send the market to consolidation between 15000 and 15280. If the index goes below 15000/50750, the bullish trend will break. Bond yields and the dollar index would once again determine the market trend in the coming days,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.