Tuesday 6 November 2018

SGX Nifty Indicates Positive Opening On Buoyant Earnings From Banks

Posted by suhani varma on Tuesday, November 06, 2018 with No comments


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SGX Nifty is currently at 10,593, up 33 points. For today, expect Nifty to see higher levels as positive earnings from banks coupled with buying by foreign investors should lift sentiment.

Nifty had a volatile day as the index recovered from a 75-point fall to close down 30 points as banks led the way forward with the Bank Nifty closing in the green. Weak global cues in Asian markets and fall in rupee saw local funds turn sellers even as foreign funds turned buyers.

Global markets: Asian indices opened in the green, led by the Japanese “Nikkei" as smart money returned to buy Asian equities. The return of Asian indices may be on the cards in 2019 as the cheapest valuations in the last five years coupled with positive rhetoric on China/US trade talks could see much better times ahead.

US markets: US indices bounce back with a nearly 200-point rally on Dow Jones. Nasdaq sees weakness as technology stocks continue to be under pressure. The US dollar sees further weakness, while oil prices shows a mild uptick as Iran sanctions kick in.

FII/DII Data: In yesterday’s trading session, FIIs bought 12cr stock in the cash market, whereas DIIs sold 621cr worth of stock. In the derivative market, FIIs sold 481cr of Index futures and bought 2,190cr worth of Index options. In the Stock futures segment, FIIs sold 531cr worth of stock futures and bought 56cr stock options.

FII View: Marginal bearish positions were created by FIIs in yesterday’s trading session in the derivative market, which is deduced by the fact that they created 7,264 short contracts in Index Futures, while simultaneously creating 25,746 long contracts in Index Put options.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long1411600.61.4
Index Short251318
Index Call Long2653613.21.1
Index Call Short83(1)48
Index Put Long3817612.30.9
Index Put Short165(0)77

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