MARKET TODAY
Key benchmark indices are likely to open flat to positive due to absence of global cues as most of the Asian markets were closed for the Lunar New Year holiday celebrations. Asian markets moving up in early trades on the back a better-than-expected jump in GDP, the Japanese stock market is drifting lower with the weak close on Wall Street on Friday and the Chinese government's monetary tightening moves hurting sentiment to an extent. However, Industrial output grew 16.8% in December from a year earlier, well above a revised annual rise of 11.8% in November and higher than analysts' forecast of 12%, data release on Friday. Stock-specific action may be on the cards on pre-budget expectations
According to data released by the NSE, in the last session, FIIs were buyers of index futures to the tune of Rs 675.51 crore and bought index options worth Rs 110.96 crore. They were net buyers of stock futures to the tune of Rs 292.88 crore while sold stock options worth Rs 1.98 crore.
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