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SGX Nifty is currently 80 points down at 10,172 levels. For today, expect early selling to continue as margin unwinding could see some more weakness; however, a second half pullback could be on the cards as markets remain heavily oversold.
Yesterday, Nifty had another strong reversal as collateral derivative expiry related selling saw the index fall over 180 points from a high of 10,404 to a low of 10,224. The selloff was more pronounced with the mid-cap index falling over 1.25% as media, metals, and PSU banks fell sharply.
Global markets: Asian indices opened weak with the Japanese "Nikkei" seeing selling on the opening bell. Yesterday, Chinese stocks had the best rally in almost two years as the index jumped over 4%. Data from China has been rather positive and government intervention on the stock market should see more momentum. For today, expect the second half of the buying session to re-emerge as stocks see value buying.
US markets: US stocks closed lower even as technology stocks rebound with Nasdaq closing in the green. Oil fell as Saudi Arabia assured more supply, while US inventories also witnessed a rise. President Trump indicated that a 10% tax cut is coming for middle income public; sentiments, however, continue to remain brittle.
FII/DII Data: In yesterday’s trading session, FIIs sold 511cr stock in the cash market, whereas DIIs bought 303cr worth of stock. In the derivative market, FIIs bought 524cr of Index futures and bought 942cr worth of Index options. In the Stock futures segment, FIIs bought 349cr worth of stock futures and bought 155cr stock options.
FII View: FII created marginally bullish positions in the Index Futures segment, which is indicated by the fact that they created 23 fresh long contracts, while simultaneously reducing 6,563 short contracts. However, considering the volatility in the markets, they also purchased 20,702 long contracts in Index Put Options. Plus, the long-short ratio in Index Futures currently stands at 0.6x since the start of the October series indicating net bearish positions.
Yesterday, Nifty had another strong reversal as collateral derivative expiry related selling saw the index fall over 180 points from a high of 10,404 to a low of 10,224. The selloff was more pronounced with the mid-cap index falling over 1.25% as media, metals, and PSU banks fell sharply.
Global markets: Asian indices opened weak with the Japanese "Nikkei" seeing selling on the opening bell. Yesterday, Chinese stocks had the best rally in almost two years as the index jumped over 4%. Data from China has been rather positive and government intervention on the stock market should see more momentum. For today, expect the second half of the buying session to re-emerge as stocks see value buying.
US markets: US stocks closed lower even as technology stocks rebound with Nasdaq closing in the green. Oil fell as Saudi Arabia assured more supply, while US inventories also witnessed a rise. President Trump indicated that a 10% tax cut is coming for middle income public; sentiments, however, continue to remain brittle.
FII/DII Data: In yesterday’s trading session, FIIs sold 511cr stock in the cash market, whereas DIIs bought 303cr worth of stock. In the derivative market, FIIs bought 524cr of Index futures and bought 942cr worth of Index options. In the Stock futures segment, FIIs bought 349cr worth of stock futures and bought 155cr stock options.
FII View: FII created marginally bullish positions in the Index Futures segment, which is indicated by the fact that they created 23 fresh long contracts, while simultaneously reducing 6,563 short contracts. However, considering the volatility in the markets, they also purchased 20,702 long contracts in Index Put Options. Plus, the long-short ratio in Index Futures currently stands at 0.6x since the start of the October series indicating net bearish positions.
| FII | OI (in000's) | % Chg | % Chg Since Expiry | Long/ Short Ratio | Long/Short Since Expiry |
| Index Long | 94 | 0 | (1) | 0.5 | 0.6 |
| Index Short | 184 | (3) | 66 | ||
| Index Call Long | 266 | 3 | 41 | 1.4 | 0.6 |
| Index Call Short | 196 | 2 | 139 | ||
| Index Put Long | 422 | 5 | 66 | 2.2 | 0.9 |
| Index Put Short | 194 | 8 | 95 |
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