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SGX Nifty is currently at 10,162 levels, down 22 points. For today, expect consolidation as the new series starts on a much lighter note after select earnings beat estimates.
Nifty had its worst month of the year as derivative contract expiry coupled with weak global cues saw the index close lower by another 100 points. The liquidity crisis precipitated by the IL&FS collapse is seeing NBFCs under liquidation pressure, which is leading to a ripple effect on stocks.
Global markets: Asian indices opened in the green as US stocks saw a strong bounce-back overnight. However, given the extent of the selloff yesterday, consolidation would be the theme as most Asian indices enter “bear market territory.” For today, expect China to see value-buying along with government intervention along with sentiment improving.
US markets: US indices bounce back strongly as technology stocks earnings beat estimates. Bond yields also rise as the US dollar hits fresh highs, while oil sees moderate pullback. Pessimism is at its highest as tariff war, rise in bond yields, and moderation in corporate earnings see global risk aversion.
FII/DII Data: In yesterday’s trading session, FIIs sold 1491cr stock in the cash market whereas DIIs bought 339cr worth of stock. In the derivative market, FIIs sold 2605cr of Index futures and bought 1109cr worth of Index options. In the Stock futures segment, FIIs sold 202cr worth of stock futures and bought 235cr stock options.
FII View: Yesterday, considering the expiry session, most of the positions were closed out by FIIs. After a heavy selloff by FII in the October series leading to the sharp correction, markets would be hoping for some reprieve. However, index futures long-short ratio currently stands at 0.4x not providing much respite.
| FII | OI (in000's) | % Chg | % Chg Since Expiry | Long/ Short Ratio | Long/Short Since Expiry |
| Index Long | 88 | (37) | 0 | 0.4 | 1.0 |
| Index Short | 213 | (6) | 0 | ||
| Index Call Long | 164 | (40) | 0 | 2.9 | 1.0 |
| Index Call Short | 56 | (73) | 0 | ||
| Index Put Long | 236 | (42) | 0 | 2.5 | 1.0 |
| Index Put Short | 93 | (40) | 0 |
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