Wall Street was closed on Martin Luther King Jr. DOW30 futures remains flat.
Exports decline 12.2% in December as global slowdown hits demand. Trade deficit widens to $23.9 billion.
WPI inflation @ 4.95%, CPI inflation expected to come down further. Inflation dips to 22-months low mainly on food prices ease.
FII F&O data: FII net long in index futures now stands at 39.87%, net short by 32685 contracts in index futures.
VIX @ 15.02: within comfortable range of 14 – 16.
Approach on Indices: Every passing day, indices failing to cross upper end of the range as every up move is getting sold into, F&O data – Nifty PCR @ 0.80 as compared to 1.03 previous.
Market View: Every passing day where indices fail to build up momentum on positive news is cause of concern, market could be vulnerable to any potential bad news which could see sharp sell-off as FII continue to remain seller.
SGX Nifty @ 17931.50 down 13.50 points at 8:05 AM