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Market Updates: Benchmark indices are trading flat in the volatile trade with Nifty hitting 14500 for the first time.At 09:53 IST, the Sensex was down 67.09 points or 0.14% at 49,202.23, and the Nifty was down 2.20 points or 0.02% at 14,482.60. About 1358 shares have advanced, 963 shares declined, and 107 shares are unchanged.
ICICIdirect:
Volatility remained high in the USDINR pair last week as the dollar index rebounded above 90 levels. Further upsides towards major Call base of 74 can be expected in the pair.
The dollar-rupee January contract on the NSE was at | 73.54 in the last session. The open interest fell 1.5% of the January series contracts.
Gainers and Losers on the BSE Sensex:
Market Opens: Indian indices opened lower on January 12 on weak global cues.
At 09:16 hrs IST, the Sensex is down 101.75 points or 0.21% at 49,167.57, and the Nifty down 26.80 points or 0.19% at 14,458. About 629 shares have advanced, 663 shares declined, and 58 shares are unchanged.
ICICIdirect:
Indian markets are likely to open with a flat to negative bias tracking weak global cues as concerns over rising Coronavirus cases and political developments in the US outweighed optimism about additional fiscal stimulus in US. US markets ended lower amid profit booking and concerns surrounding political turbulence.
Market at pre-open: Benchmark indices are trading mixed in the pre-opening session on weak global cues.
At 09:02 IST, the Sensex was up 27.43 points or 0.06% at 49296.75, and the Nifty was down 49.40 points or 0.34% at 14435.40.
NSE launches derivatives on Nifty Financial Services Index
The National Stock Exchange (NSE) on Monday launched derivatives on the Nifty Financial Services Index, which will give more flexibility to institutional as well as retail investors to manage their hedge. This is the first time that the exchange has made available weekly futures for stock index derivatives.
The index consists of 20 stocks and is designed to reflect the behaviour and performance of the Indian financial market, which includes banks, financial institutions, housing finance, insurance companies and other financial services companies.
FII Trading Activity:
DII Trading Activity:
Nagaraj Shetti, Technical Research Analyst, HDFC Securities:
The short term trend of Nifty continues to be positive. There is a possibility of some more upmove or range movement for the next 3-4 sessions, before showing sharp one day of decline from the new highs. The next upside levels to be watched at 14,600-14,800. Immediate support is placed at 14,380.
