Tuesday 30 October 2018

SGX Nifty Indicates Mildly Negative Opening Tracking Global Cues

Posted by suhani varma on Tuesday, October 30, 2018 with No comments

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SGX Nifty is currently trading at 10218, down 57 points. For today, consolidation can be seen as global cues turn weak; however focus will remain be on corporate earnings.

Nifty had a superb rally of over 250 points on Monday with Sensex clocking over 700 points as short covering, better results, and value buying saw the indices clock best rally in 30 months. Better still, the breadth was very impressive with the mid and small cap indices joining the pull back.

Global markets: Asian indices opened mixed with the Japanese Nikkei trading well in the green despite the overnight sharp reversal in the US markets. Oversold indices in Asia may not react much to the President Donald Trump rhetoric this time as most negative news has already been discounted. For today, expect falls to be bought as short covering, and value buying to reemerge.

US markets: US indices have big reversal as Trump threatens more tariffs on China. Dow Jones swings over 900 points intraday as volatility hits markets. Oil prices fall another day, while bond yields trade near 3.08% as money exits equities and chases fixed income.

FII/DII Data: In the yesterday’s trading session, FIIs sold 2230cr stock in the cash market, whereas DIIs bought 2526cr worth of stock. In the derivative market, FIIs bought 279cr of Index futures and bought 2227cr worth of Index options. In the Stock futures segment, FIIs bought 2078cr worth of stock futures and bought 602cr stock options.

FII View: FII built marginally bullish positions in the derivative market, which is deduced by the fact that they created 1208 net long contracts in Index Futures, while simultaneously adding 27162 long contracts in Index Call Options.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long10610200.51.1
Index Short23249
Index Call Long19916212.70.9
Index Call Short74(6)32
Index Put Long3384432.81.1
Index Put Short120829

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