Nifty 50 could set another new record on Thursday; 5 things to know before opening the bell

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Does this weakness in the share price of the two IT majors present a buying opportunity for investors or is it a sign of staying on the sidelines despite the stellar results posted by companies?

Nifty futures were trading at 14,592.50 levels, up 20 points or 0.14% on Sinpaorean Exchange, hinting at a positive open for BSE Sensex and Nifty 50 on Thursday. In the previous session, the Nifty 50 index ended at a record closing level. Investors will continue to monitor quarterly results from October to December for equity specific development. Market analysts believe that even though the market experienced higher weakness on Wednesday, there is still no indication of an inversion pattern forming at new highs. Nagaraj Shetti, Technical Research Analyst, HDFC Securities said there was a possibility that the Nifty 50 Index could rise further amid a range move over the next two sessions.

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FII, DII data: Foreign Institutional Investors (FII) racked up shares worth Rs 1,879.06 crore on Wednesday, while domestic institutional investors (DII) unloaded shares worth Rs 2,370.17 crore on a net basis in the Indian stock market, according to provisional data available on the NSE.

Smart valuation at an all time high: Even though Nifty 50 ended flat on Wednesday, but at an all time high, bringing the valuation to an all time high of 39.94. Yesterday, the Nifty 50 Index hit an all-time high of 14,653.35. Analysts say the market valuation is trading at a P / E multiple of 40x for the first time in 25 years.

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Call, sell option data: For the January series, the maximum interest for open appeals (OI) is placed at 15,000 strikes with 23.13 lakh contracts. This is followed by 15.17 lakh contracts at 14,000 strikes. The maximum OI put is at 14,000 strikes with 30.36 lakh contracts, followed by 24.89 lakh contracts at 13,000 strikes

Company benefits: In total, six publicly traded companies, including Den Networks, HFCL, Reliance Industrial Infrastructure, Tata Steel Long Products, among others, are expected to report their October-December quarter results today.

Global watch: Asian stock market peers were trading mixed at the start of trading on Thursday. Japan’s Nikkei 225 rose 1.38 percent while the Topix index rose 0.86 percent. In overnight trading on Wall Street, the benchmark S&P 500 closed slightly higher on Wednesday. The Dow Jones Industrial Average fell 0.03%, the S&P 500 fell 0.23% and the Nasdaq Composite fell 0.43%.

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