Tuesday 18 December 2018

SGX Nifty Indicates Flat Opening For Markets Amid Sell-Off In Global Equities

Posted by suhani varma on Tuesday, December 18, 2018 with No comments


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SGX Nifty is at 10888, down 25 points. For today, we expect cautious start as the US markets seen another big sell-off, however investors would await Federal Reserve stance on Wednesday to decide the trend going forward.

On Monday, the Nifty saw another positive session defying global cues with the index closing near 10900 levels. Further, mid-cap indices outperformed as lower oil and bond yields bode well for financials. Metals, media and IT shares joined the party with strong buying.

Global markets: Asian indices opened in the red led by the Japanese Nikkei, which traded almost 300 points lower in early trade. This came in as most expect over sold Asian indices to see some contrarian buying as valuations become extremely compelling. The fall in oil should bode well for the smaller Asian importers as trade burden eases.

US markets: US stocks closed near March lows as indices lost another 2% before Federal Reserve meeting on Wednesday on monetary policy. Oil closes below $59/bbl on profit booking. S&P index closes at 14 months low as sell-off sees contagion effect on most asset classes with yields also falling.

FII/DII Data: In yesterday’s trading session, FIIs sold 60cr stock in the cash market, whereas DIIs sold 76cr worth of stock. In the derivative market, FIIs sold 319cr of Index futures and bought 21cr worth of Index options. In the Stock futures segment, FIIs bought 6cr worth of stock futures and bought 45cr stock options.

FII View: FIIs created bearish positions in Index Futures in yesterday’s trading session, which is deduced by the fact that they created 6146 net short contracts in the segment. The long-short ratio in Index Futures currently stands at 0.9x since the start of the December series.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long1711230.90.9
Index Short191444
Index Call Long2440272.40.8
Index Call Short102(2)60
Index Put Long3702472.30.9
Index Put Short162761

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