Wednesday, December 28, 2016

Global cues, short covering to keep the indices in green

Stock market are expected to open in a  firm note following global cues. DJIA, FTSE and Nasdaq closed in the green in yesterday's trading. After demonetization FIIs started selling in the cash market which resulted in indices losing over 5% in 2 weeks. On ther hand DIIs have aggressively buying in the same segment. In yesterday's trading although FIIs have net sold in cash market, however FIIs have net bought in index options ( Rs 1460 cr). DIIs have net bought for more than Rs 1500 cr in cash market.

There are lot of short positions in index stocks which are to covered before the expiry, that is tomorrow. Expect indices to close with a decent gains. 

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