SGX Nifty down 80 points in early trade on Tuesday; 5 things to know before market opens

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January 05, 2021 8:50 AM

Nifty futures were trading 78 points down at 14,097.50 on Singaporean Exchange, hinting at a gap-down start for BSE Sensex and Nifty 50 on Tuesday

nifty, stocks to sell, tcs, pnbDomestic research and brokerage firm Emkay Global Financial Services in its recent note has recommended to sell four Nifty 50 and Nifty Next 50 stocks

Nifty futures were trading 78 points down at 14,097.50 on Singaporean Exchange, hinting at a gap-down start for BSE Sensex and Nifty 50 on Tuesday. Spike in COVID-19 cases and runoff elections in Georgia sent the global stocks lower. Senate runoff in Georgia is likely to impact the upcoming economic policies of US President Joe Biden. Besides, UK Prime Minister Boris Johnson has announced new restrictions to contain the highly transmissible variant of the deadly virus. Indian share markets are expected to break the 9-day winning streak in today’s session. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd advised investors to adopt buying on dips strategy to accumulate quality stocks.

Call, Put OI: For the January series, maximum Call Open Interest (OI) is placed at 14,000 strike with 21.08 lakh contracts, with 6,225 fresh call writings. This is followed by 14,500 with 13.57 lakh contracts. Most Put OI is at 13,500 strike with 20.81 lakh contracts. This is followed by 14,000 strike with 19.38 lakh contracts.

Global stocks tank: Taking cues from the overnight plunge on Wall Street, Asian stock markets were trading mixed on Tuesday. Japan’s Nikkei 225 declined 0.17 per cent while the Topix index fell 0.11 per cent. South Korea’s Kospi shed 0.38 per cent. While amid upcoming runoff elections in Georgia and the continuous surge in COVID-19 cases, shares on Wall Street ended lower. The Dow Jones fell 1.27 per cent, the S&P 500 lost 1.49 per cent, while the Nasdaq dropped by 1.48 per cent.

FII and DII data: On Monday, foreign institutional investors (FIIs) lapped up shares worth Rs 1,843.22 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 715.21 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.

Crude oil prices: Oil prices were seen little unchanged on Tuesday after OPEC and allied producers including Russia, continued deadlocked talks in February output while fuel demand concerns lingered on amid new COVID-19 lockdowns, according to Reuters.

Bulk deals: Through bulk deals, LTS Investment Fund sold 25.20 lakh shares of JMT Auto at Rs 2.96 apiece. While Heritage Foods sold 7.40 lakh shares of Praxis Home Retail at Rs 45 apiece.

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