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February 24, 2021
Foreign fund flows, Covid-19 cases and rising bond yields will anchor the market movement
The domestic market is expected to open with a gap up of at least 80 points, as SGX Nifty is currently ruling at 14,842 against Nifty March futures’ close of 14,762.85. However, with only one day left for expiry of F&O monthly contracts, analysts expect the market to remain volatile. While cues from Asia-Pacific markets remain mixed, US markets closed in the green overnight after opening sharply lower. We note that concerns pertaining to increase in bond yields and higher commodity prices dented investors’ sentiments in the last couple of days. However, underlying strength of economy and market remains intact in our view and hence, any meaningful correction in the market should be used to buy, said Binod Modi, Head - Strategy at Reliance Securities.
Markets may open positive, but volatility could squeeze traders
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Sharp slide in Nasdaq may see Indian IT stocks come under pressure; RIL’s restructuring announcement could help keep index heavyweights firm
Indian markets are expected to open on a positive note on Tuesday, as SGX Nifty points to a gap up opening of at least a 100 points. However, volatility is likely to hurt investors’ sentiment, as mixed signals emerge from Asia-Pacific markets and from the US markets overnight. The sharp slide in Nasdaq may keep Indian IT stocks under pressure. However, index heavyweights may help the market stay firm following the restructuring announcement.
SGX Nifty points to flat opening; Covid-19, global market trends to dictate D-Street direction
February 22, 2021
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Analysts say market will remain in consolidation mode; ‘expect domestic market to continue following global markets this week on lack of major domestic events’
Indian markets are expected to open flat on the first day of the week, as SGX Nifty points to a flat beginning even as Asia-Pacific markets are ruling firm in early trade on Monday. SGX Nifty is ruling at 15,025 against Nifty March futures Friday’s closing of 15,025 and February futures closing of 14,987, signalling flat opening for Nifty index.
Analysts expect the markets to remain in consolidation mode. Global cues and foreign fund flows will largely direct the market movement, they added. However, the key worry is rising Covid-19 cases in some States, especially Maharashtra, again, they added.
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