Friday 28 September 2018

Sensex, Nifty To Open Higher On Positive Rally In Global Equities

Posted by suhani varma on Friday, September 28, 2018 with No comments


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SGX Nifty is currently trading 45 points up at 11,087. For today, some consolidation can been witnessed with stock-specific movement as rupee and bond yields stabilize.

In the previous session, Nifty had another week close to see the September series of derivative contracts end down ~6%.The last session saw bears dominate from opening bell as weak rollovers and extreme pressure on banks and financial services stocks saw the Nifty close below the 11000 mark.

Global markets: Asian indices opened in the green lead by the Japanese Nikkei with exporters leading the rally as the Japanese Yen hit 2018 lows against the US dollar. Asian markets have been seeing a strong value buying after last fortnight as flows get directed towards emerging markets. For today, a strong close can be seen to an event filled week with most indices closing in the green.

US markets: US indices bounce back with technology stocks regaining their momentum. Earnings are to be the next catalyst with financials leading the pack. A strong US dollar sees yields stabilize around 3.07% as the US Federal Reserve action indicates another rate hike in December.

FII Data: In the yesterday’s trading session, FIIs bought 552cr stock in the cash market, whereas DIIs sold 186cr worth of stock. In the derivative market, FIIs sold 1535cr of Index futures and sold 382cr worth of Index options. In the Stock futures segment, FIIs bought 780cr worth of stock futures and sold 41cr stock options.

FII View: The October series starts with positions more on the bearish side, which is indicated by a long short ratio of 0.9x in Index Futures and open interest positions of nearly 2.55 lakh in Index Put options. The rollover data also indicates more bearish positions.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long95(41)00.91.0
Index Short111(35)0
Index Call Long189(32)02.31.0
Index Call Short82(62)0
Index Put Long255(45)02.61.0
Index Put Short100(43)0

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