Volatility may zoom on F&O expiry

Trading could be volatile as traders roll over positions in the F&O segment from the near month January series to February series. The January 2021 F&O contracts will expire today, 28 January 2021.

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 105 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday following an overnight plunge on Wall Street.

Japan's retail sales declined 0.3% year-on-year in December, according to data released by the country's Ministry of Economy, Trade and Industry.

US stocks suffered their biggest one-day percentage drop in three months on Wednesday, adding to losses after the latest Fed statement as major indexes were also pressured by a slump in Boeing and a selling of long positions by hedge funds.

The U.S. Federal Reserve left its benchmark interest rate anchored near zero following the conclusion of its two-day meeting Wednesday. The Fed also said it will keep buying at least $120 billion of bonds a month.

In his post-meeting news conference, Fed Chairman Jerome Powell said that the economy is a long way from our monetary policy and inflation goals, and it's likely to take some time for substantial further progress to be achieved.

Domestic markets:

Back home, domestic shares tumbled sharply on Wednesday on across the board selling pressure. The barometer index, the S&P BSE Sensex, tumbled 937.66 points or 1.94% to 47,409.93. The Nifty 50 index lost 271.40 points or 1.91% to 13,967.50.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,688.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3.38 crore in the Indian equity market on 27 January, provisional data showed.

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