Sensex, Nifty may continue to surge higher; top things to know before market opens on Monday

Nifty futures were trading 146.80 points or 1.05 per cent higher at 14,116.80 on Singaporean Exchange on Monday. BSE Sensex and Nifty 50 are likely to make new record high levels in today’s session. Bulls are expected to cheer the approval of COVID-19 vaccines by Indian drug controller DGCI for emergency use in India. In the previous session, the S&P BSE Sensex rose 117.65 points to end at 47,868.98 while the broader Nifty50 gained 36.70 points to settle at 14,018.50. Asian stock markets were seen trading mixed in the early trade on Monday. ” The index has formed breakout continuation formation and the texture of the chart suggest uptrend likely to continue in the near term. we can expect further upside activity towards the 14300 or 14400 levels. On the downside, the Nifty would find big support between 13800 and 13700,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities.

FPIs turn net buyers for 3rd straight month: Foreign portfolio investors (FPIs) remained net buyers for the third month in a row by investing Rs 68,558 crore in Indian markets as global investors continued betting on emerging markets. The second highest amount into equities was invested by FPIs in November, when they had pumped in Rs 60,358 crore.

Call, Put OI: For the January series, maximum Call Open Interest (OI) is placed at 14,000 strike with 21 lakh contracts, followed by 14,500 strike with 12.23 lakh contracts. Put OI is the most at 13,000 strike with 26.93 lakh contracts.

GST collection: GST collection was reported at Rs 1.15 lakh crore in the month of December, up 12 per cent on-year. The December revenue, which comes from transactions done in November, was also up 9.7 per cent, sequentially.

Asian markets: Asian stock markets were trading mixed on Monday. Japan’s Nikkei 225 dipped 0.64 per cent while the Topix index fell 0.85 per cent. In South Korea, the Kospi gained 1.22 per cent.

RBI launches Digital payments index: The Reserve Bank of India (RBI) has come up with a ‘composite Digital Payments Index (DPI)’ to measure the extent of digitisation of payments in India. The digital payments ecosystem is currently dominated by large technology players including Paytm, PhonePe, Google Pay, and recently launched WhatsApp Payments.