Monday 22 October 2018

SGX Nifty Indicates Flat Opening Focus On Q2 Earnings

Posted by suhani varma on Monday, October 22, 2018 with No comments


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SGX Nifty is currently 17 points down at 10,308 levels. For today, expect 10,250 levels to hold as rupee holding gains closer to 73 could inspire some confidence along with better than expected earnings from large corporates like HDFC bank.

Nifty had another volatile session with the index falling over 150 points as global cues played out negatively with foreign selling accentuating.

Global markets: Asian indices opened in the red led by the Japanese “Nikkei” as the yen saw strength which hurt exporters. The under-lying fear of the China tariff war escalating has seen Chinese stocks get severely beaten. Expect consolidation in Asia, except the Japanese markets, as over-sold indices are due for a strong rebound.

US markets: US stocks see a pull-back with Dow Jones closing in the green even as NASDAQ continues its losing streak. Rising yields, China tariff war and Saudi Arabia’s diplomatic uncertainty grows even as oil sees weakness. President Trump has hinted at more tax cuts before the November elections as the US dollar sees weakness.

FII/DII Data: In Friday’s trading session, FIIs sold 618cr stock in the cash market, whereas DIIs sold 2cr worth of stock. In the derivative market, FIIs sold 437cr of Index futures and bought 2,584cr worth of Index options. In the Stock futures segment, FIIs sold 1,663cr worth of stock futures and bought 285cr stock options.

FII View: FII created bearish positions in the Index futures segment which is indicated by the fact that they created 7,316 fresh short contracts, while simultaneously creating 24,968 short contracts in Index Call Options. Plus, the long short ratio in Index futures currently stands at 0.6x since the start of the Oct series indicating net bearish positions.

 FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long942(1)0.50.6
Index Short191472
Index Call Long2592371.30.6
Index Call Short19315136
Index Put Long402(0)582.20.9
Index Put Short180381
 

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