In early trade on Wednesday, Asian stock markets were seen trading mixedShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 are likely to open at record high levels yet again on Wednesday, as suggested by trends on SGX Nifty. Nifty futures were trading 25.50 points or 0.18 per cent up at 14,055.20 on Singaporean Exchange. Indian share markets followed the upbeat global cues on the back of fiscal stimulus signed by President Donald Trump and the developments around the Brexit trade deal. In early trade on Wednesday, Asian stock markets were seen trading mixed. Japan’s Nikkei 225 fell 0.57 per cent while the Topix index dipped 0.73 per cent. In overnight trade on Wall Street, the three main indices ended the session in the red. The Dow Jones Industrial Average fell 0.22 per cent, the S&P 500 lost 0.22 per cent and the Nasdaq Composite dropped 0.38 per cent.
Indian equities may be valued at their most expensive ever but foreign portfolio investors continue to be buyers. Flows in December have crossed $6 billion and could well hit $7 billion before the month is over. While it’s the abundance of liquidity worldwide that is channelling funds into equities, India seems to be getting more than its fair share of EM allocations.
Highlights
Following recent gains, call writing has been seen at 14,000 strike, which also holds the maximum Call Open Interest (OI) with 57.77 lakh contracts. This is followed by 42.72 lakh contracts at 14,300 strike. Most Put OI is at 13,000 strike with 60.26 lakh contracts, followed by 13,500 strike with 42.71 lakh contracts.
Indian equities closed Tuesday’s trading session at a new record high once again, backed by strong buying in banking and technology stocks. The markets also followed cues coming out of Asia where markets were trading in the green responding to the US fiscal stimulus and Brexit trade developments.
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The earlier-than-expected rebound in the economy is expected to give corporate earnings a fillip as also boost the government’s tax collections allowing it to spend more on much-needed investments. While earnings for FY22 have been upgraded post the results announcements for Q2FY21,the Street is betting on more upgrades.
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