Friday 7 December 2018

SGX Nifty Indicating Gap Up Opening As Crude Prices Witnessed A Sharp Decline

Posted by suhani varma on Friday, December 07, 2018 with No comments

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SGX Nifty is at 10,690, up 66 points. For today, we expect weekend blues to keep the markets range bound as globally the volatility has seen sharp spike & hurt investors, as sentiment turns fragile.

Yesterday, Nifty saw a sharp correction for the second day running as extremely weak global cues took their toll with Nifty falling nearly 200 points.This came in even as foreign investors continue to buy stocks as India emerges best destination in emerging markets basket with longer term outlook. Fall in oil should see auto, paints & OMCs outperform today with financials also seeing value buying.

Global markets: Asian indices traded in the green after seeing 2 days of huge correction as the US markets recover. US$ sees weaknesscreep in while bond yields trade around 2.89%, the lowest in last 6 months.Expect weekend blues to keep the markets range bound as globally the volatility has seen sharp spike & hurt investors, as sentiment turns fragile.

US markets:US stocks stage smart comeback with Dow Jones closing down 79 points after being falling nearly 800 points. Nasdaq closed in the green as institutional buying witnessed stocks recover form 2 day slide. Oil prices fall as OPEC talks on production cuts remains inconclusive.

FII/DII Data: In yesterday’s trading session FIIs bought 72cr stock in the cash market whereas DIIs sold 389cr worth of stock. In the derivative market, FIIs sold 1722cr of Index futures and bought 6642cr worth of Index options. In the Stock futures segment, FIIs sold 1047cr worth of stock futures and bought 17cr stock options.

FII View: FIIscreated bearish positions in the derivative segment in yesterday’s trading session which is deduced by the fact that theycreated 22292 net short contracts in Index Futures while simultaneouslycreating 9970 long contracts in Index Put Options.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long159(1)140.80.8
Index Short1891343
Index Call Long226(4)172.50.8
Index Call Short90(7)42
Index Put Long2973182.30.9
Index Put Short129(4)28

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