MARKET TODAY
Key benchmark indices are likely to open higher tracking stronger Asian peers and a Wall Street rally overnight. India has enough grain stocks to ride out an expected poor harvest, but the failure of the monsoon adds to global uncertainty about food and grain stocks. However, Short covering and value buying in battered index heavyweights may help the Indian market to upside. The government will announce India's wholesale price index (WPI) in the 12 months to 8 August 2009 at around noon today.
According to data released by the NSE, in the last session, FIIs were net sellers of index futures to the tune of Rs 173.75 crore while bought index options worth Rs 178.53 crore. They were net buyers of stock futures to the tune of Rs 136.27 crore and bought stock options worth Rs 190.02 crore.
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