The NSE Nifty Future is trading at 10,888.50 up with +1.10% percent or +118.70 point. The Nikkei 225 Future is trading at 20,490.00 with a loss of -0.10% percent or -20.00 point . The Hang Seng Future is trading at 26,792.50 up with +1.86% percent or +490.50 point.
TODAY’S FACTORS AND EVENTS
The Nifty has substantially more room to correct, if foreign portfolio investors’ (FPIs) cumulative net open interest (OI) positions on index futures (mainly Nifty and Bank Nifty) in the year through January 14 is anything to go by.
there’s more room for correction, says Rohit Srivastava, technical expert at Sharekhan by BNP ParibasNSE -0.22 %. “The implication is that FPIs are creating significant shorts on the way down (Nifty correction), but not adding substantial longs when the market rallies,” he said. For example, on March 12, 2018, when net position was 24,127 contracts, the Nifty topped around 10,421 and corrected to 9,998 on March 23.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 23,909.84 with a loss of -0.36% percent or -86.11 point. The S&P 500 is trading at 2,582.61 with a loss of -0.53% percent or -13.65 point. The Nasdaq Composite is trading at +6,905.92 with a loss of -0.94% percent or -65.56 point.
In other parts of world, Japan’s Nikkei 225 is trading at 20,555.29 up with +0.96% percent or +195.59 point. Hong Kong’s Hang Seng is trading at 26,781.45 up with +1.84% percent or +83.12 point. China’s Shanghai Composite is trading at 2,570.07 up with +1.35% percent or +34.30 point. India’s BSE Sensex is trading at 36,203.42 up with +0.98% percent or +349.86 point at 12:15 PM.