Monday, 3 December 2018

SGX Nifty Indicates A Positive Start All Eyes On Key Events

Posted by suhani varma on Monday, December 03, 2018 with No comments


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SGX Nifty is at 10,976, up 66 points. For this week, we will see event risks get discounted with RBI policy & OPEC meet being the key events slated for the 5th & 6th December, which will dictate the short term trend.

Last Friday, Nifty saw a sharp weekly rally closing at 3-month highs as rupee, oil & foreign flows drove the market upwards.The index closed just shy of 10900 as financials, auto, IT & pharma saw the Nifty witness all round large cap buying. For this week, we will see event risks get discounted with RBI policy and OPEC meet being the key events slated for the 5th and 6th December, which will dictate the short term trend.

Global markets: Asian indices opened in the green as the Japanese Nikkei jumped over 250 points in early trade. This was witnessed after the US-China talks ended on a positive note with no escalation on trade tariffs, which came as a big relief for markets. Oil sees rebound as all eyes are on OPEC meet on 6th December where production cuts could be on the cards.

US markets: US indices end the week with handsome gains as Dow Jones clocks another 200 points owing to the bounce back in energy stocks. US-China announce relief with no further tariffs from January 01, 2019, which will see bonds, currencies and stocks of most emerging markets do well.

FII/DII Data: In Friday’s trading session FIIs sold 332cr stock in the cash market whereas DIIs bought 1489cr worth of stock. In the derivative market, FIIs bought 171cr of Index futures and bought 1521cr worth of Index options. In the Stock futures segment, FIIs bought 32cr worth of stock futures and bought 288cr stock options.

FII View: FIIs created bullish positions in Index Futures in Friday’s trading session which is deduced by the fact that they created 1303 long contracts, however considering the volatility in the markets they also built 32642 net long contracts in Index Put options to hedge their positions.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long141111.11.0
Index Short132(0)(0)
Index Call Long21411112.50.8
Index Call Short873737
Index Put Long30019192.61.0
Index Put Short1161515

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