SGX Nifty hints at gap-down start for Sensex, Nifty; 5 things to know before opening bell

Indian share market may open in negative territory on Tuesday, taking cues from the global peers. In the previous session, Nifty 50 index jumped 137.5 points or nearly one per cent to close at 14,484.75 while the BSE Sensex rallied 486.81 points or 1 per cent to close at 49,269.32. A host of factors such as October-December quarter earings, COVID-19 vaccine rollout, oil prices, rupee movement and other global developments will set the market tone today. The trends on SGX Nifty suggested a negative opening for the domestic equity market benchmarks. Nifty futures were seen trading 11.50 points or 0.08 per cent down at 14,484.50 on Singaporean Exchange. Analysts say that the market has gained momentum due to the bright possibilities of bold announcements in the forthcoming Union Budget. “It is an indecisive candlestick pattern at the top of the current movement and traders should take some profit at current levels until the Nifty or Sensex crosses do not cross the 14520/49370 level. Support exists at 14440/49000 and 14380/48900,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

BSE, NSE bulk deals: Rakesh Jhunjhunwala bought 50 lakh shares of Fortis Healthcare, while Rare Enterprises sold 50 lakh shares of the same at Rs 179.40 apiece through bulk deal on BSE. Chetan Rasikal Shah bought 22.80 lakh shares at Rs 150.16 apiece and sold 12.57 lakh shares at Rs 150.15 per share of Burger King India. While Eastspring Investments India Consumer Equity Open Ltd sold 27.55 lakh shares at Rs 154.92 apiece of the company via bulk deal on National Stock Exchange on Monday.

FII, DII data: On Monday, foreign institutional investors (FIIs) bought shares worth Rs 3,138.9 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 2,610.13 crore on a net basis in the Indian equity market, according to the data available on the NSE.

Call, Put OI: For the January series, maximum Call Open Interest is placed at 15000 strike with 18.98 lakh contracts. This is followed by 17.32 lakh contracts at 14000 strike. Most Put OI is at 14,000 strike with 29.14 lakh contracts.

Corporate earnings: A total of 13 BSE listed companies including Karnataka Bank, Tata Elxsi, Continental Securities, Mideast Integrated Steels, Trade Wings and Vikas Multicorp are scheduled to announce their October-December quarter earnings later in the day today.

Global watch: Asian stock markets were seen trading mixed on Tuesday after Wall Street shares retreated from all-time highs. Japan’s Nikkei 225 gained 0.12 per cent while the Topix index was below the flatline. South Korea’s Kospi fell 0.3 per cent. US stock indices ended lower in overnight trade. The Dow Jones Industrial Average fell 0.29 per cent, the S&P 500 lost 0.66 per cent and the Nasdaq Composite dropped 1.25 per cent.