Thursday 6 December 2018

SGX Nifty Indicates Gap Down Opening For Markets

Posted by suhani varma on Thursday, December 06, 2018 with No comments

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SGX Nifty is at 10745, down 89 points. For today, we expect China to set the tone for Asian markets as macro data due could see buying on dips as valuations turn attractive.

Yesterday, Nifty saw a sharp correction, in-line with weak global cues as local funds sold & booked profit. Metals, pharma & auto stocks bore the brunt of the selling as overnight US sell-off prompted profit booking.The event calendar for Indian markets includes the OPEC meet today & the state election results on 11th December, which could see some more consolidation today & tomorrow.

Global markets: Asian indices traded in the red led by the Japanese Nikkei, which traded lower by over 250 points in early trade.This came in as US futures dipped after the controversy regarding CFO of Huawei escalated with market expectations of rise in tension. Expect China to set the tone for Asian markets as macro data due could see buying on dips as valuations turn attractive.

US markets: US stocks start trade on a weak wicket as US futures point lower after the US markets closed yesterday. Oil trades lower as OPEC meet today to decide on production cut. Markets will keenly await jobs data due on Friday to decide future trend.

FII/DII Data: In yesterday’s trading session FIIs sold 357cr stock in the cash market whereas DIIs sold 791cr worth of stock. In the derivative market, FIIs sold 1164 crore of Index futures and sold 914cr worth of Index options. In the Stock futures segment, FIIs sold 843cr worth of stock futures and bought 309cr stock options.

FII View: FIIs created bearish positions in the derivative segment in yesterday’s trading session which is deduced by the fact that they created 18861 net short contracts in Index Futures; the long-short ratio 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 Long1603151.00.9
Index Short1681627
Index Call Long2354222.40.8
Index Call Short97253
Index Put Long287(6)142.10.9
Index Put Short135434

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