MARKET TODAY
Market is likely to open firm mirroring gains in the global markets. Yesterday, market snapped its 8-day rally on profit taking amid political uncertainty on the outcome of the month-long parliamentary elections. Finally the Sensex declined 337 points, or 3%, to close at 10,947 and the Nifty ended lower by 114 points, or 3.2% at 3,369. Traders are likely to buy stocks after a sharp fall across the board in previous day. However, political uncertainty and quarterly earnings may cap near term upside on the bourses.
According to data released by the NSE, in the last session, FIIs were net sellers of index futures to the tune of Rs 323.89 crore while bought index options worth Rs 116.88 crore. They were net sellers of stock futures to the tune of Rs 526.34 crore and sold stock options worth Rs 5.32 crore.
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