Wednesday 3 October 2018

Sensex, Nifty Set To Open On A Negative Note As Rupee Continues To Face Pressure

Posted by suhani varma on Wednesday, October 03, 2018 with No comments

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SGX Nifty is currently trading at 11013 levels. Rupee will be the big casualty for today as oil spike to $85 will see Rs73/$ being tested in early trade.

Nifty had another volatile start before staging a sharp comeback on Monday as short covering coupled with value buying saw the index close higher by 100 points. Foreign selling was matched by local buying as LIC bought aggressively. On Tuesday, financial markets were closed on account of Gandhi Jayanti.

Global markets: Asian indices opened weak after seeing a huge volatility return with Chinese and Hong Kong indices again seeing bears attacking the index. The fear of tariff war escalating has seen an effect on Chinese stocks with financials and manufacturing sectors under pressure. The Japanese Nikkei, which yesterday hit fresh 52 week highs, is also seeing profit booking in early trade today.

US markets: Dow Jones closed at another record as energy stocks lift index to fresh all time highs. Nasdaq sees another bout of profit booking and closed lower by almost 0.5%. Bond yields hit 3.05% even as the US dollar sees strength, while emerging market stocks do relatively well with Brazilian 'Bovespa' index up nearly 4%.

FII Data: In Monday’s trading session, FIIs sold 1841cr stock in the cash market, whereas DIIs bought 1804cr worth of stock. In the derivative market, FIIs bought 8cr of Index futures and bought 1962cr worth of Index options. In the Stock futures segment, FIIs bought 416cr worth of stock futures and sold 63cr stock options.

FII View: In Monday’s trading session, FII created bullish positions in the Derivative segment, which is deduced by the fact that they purchased 1453 fresh long contracts in Index Futures, while simultaneously creating 26950 long contracts in Index Call Options.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long1061110.91.1
Index Short11413
Index Call Long20915112.00.9
Index Call Short103726
Index Put Long2975172.40.9
Index Put Short1251425

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