Sensex, Nifty may make new highs Wednesday; 5 things to know before the market opens

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An analyst said that bets against the grain of retail participants are not letting markets fall.

Nifty futures traded 28.50 points or 0.20% higher at 14,629 on the Singapore Stock Exchange, indicating a start of a gap for BSE Sensex and Nifty 50 on Wednesday. On the back of bullish sentiment, the market capitalization of all BSE-listed companies hit a new all-time high of Rs 197.46 lakh crore on Tuesday. Today, results for the October-December quarter, macroeconomic data, equity-specific developments, oil prices, movements of the rupee and other global indices will be closely watched. Market participants may react to macroeconomic data released Tuesday after market hours. Sameet Chavan (chief analyst – technical and derivatives, Angel Broking) said that kind of optimism in the markets has not been seen in the past decade. “Betting against the tide of retail participants doesn’t let the markets fall, which is the practicality of the relentless move,” he added.

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Call, put OI: The maximum open appeal (OI) interest for the January round is set at 15,000 strikes with 20.84 lakh contracts. This is followed by 16.34 lakh contracts at 14,000 strikes.
Put OI is the most at 14,000 strikes with 29.90 lakh contracts, followed by 22.35 lakh contracts at 13,500 strikes.

FII, DII data: On Tuesday, foreign institutional investors (FII) bought shares worth Rs 571.47 crore, while domestic institutional investors (DII) sold shares worth Rs 1334.5 crore on a net in the Indian stock market, according to data available on the NSE.

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Company benefits: A total of 10 BSE-listed companies such as Infosys, Wipro, 5paisa Capital, Amtek Auto, Asian Tea & Exports, CESC, Capital Trade Links, GTPL Hathway, Mideast (India) and Rajoo Engineers are expected to report quarterly results October to December later today today.

Macro data: Retail inflation fell sharply to 4.59% in December, mainly due to lower food prices. Retail inflation based on the Consumer Price Index (CPI) was 6.93% in November. While India’s industrial output, the Industrial Production Index (IIP), contracted (-) 1.9 percent in November.

Global watch: Asian stock markets were seen in a mixed light during early trading on Wednesday. Japan’s Nikkei 225 rose slightly while the Topix index fell 0.13%. Wall Street stock indexes finished barely higher in overnight trading. The Dow Jones Industrial Average rose 0.19%, the S&P 500 by 0.04% and the Nasdaq Composite by 0.28%.

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