InvestorQ : After two days of flat markets, what is your view of the markets for 11 February, Thursday?
Dawn Cherian made post

After two days of flat markets, what is your view of the markets for 11 February, Thursday?

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diksha shah answered.
4 months ago
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On Wednesday the 10 February, the Nifty and Sensex were absolutely flat for the second day in succession. There were really no worthwhile triggers for the market and that was evident in the lacklustre market trend. The near term triggers are more or less factored into the markets and most of the results have been along expected lines.

The big trigger for the markets will now come over the weekend in the form of macro data. On Friday, the inflation data and IIP data will be announced. Inflation is expected by most economists to be sharply lower once again and could be a positive for the markets. The bigger question would be about the likely pick-up in the IIP numbers.

Foreign portfolio investors or FPIs were net buyers to the tune of Rs.1787 crore while the domestic financial institutions including the mutual funds and insurers sold Rs.2,076 crore on Wednesday. FPI flows have crossed Rs.16,000 crore in the month of February but the worry is on the rising DFI selling which hints at flow stress.

In the global markets, there was selling across the Dow and the NASDAQ in the US markets. Even Europe was in the red across the key markets like FTSE, CAC and DAX, although the correction was quite mild. The SGX Nifty is also hinting at a 40 bps correction in early trades and the undertone for Thursday looks weak. The weekly options settlement could put pressure.

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