Tuesday 22 January 2019

SGX Nifty Indicates A Flat Opening For The Indian Markets

Posted by suhani varma on Tuesday, January 22, 2019 with No comments

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SGX Nifty is at 10,961.85, up 54.90 points. For today, expect more color from earnings & stability on the rupee to see the broader market witness some upside.

Nifty saw heavyweights Reliance & Kotak Bank pull the index to the highest close in 3 months even as the broader market struggled. The re-rating of Reliance saw Nifty come within whispering distance of 11000 as fresh buying saw new near term highs on the stock.

Global Markets: Asian indices opened flat to mildly in the red as caution was the buzzword after a stellar start to the New Year. Asian equities may see China see more gains as analysts are seeing more Government steps to cut the CRR & spend more on infrastructure to instill higher growth. Data available from South Korea & Taiwan indicated slower exports, which may see US$ strengthen against their currencies.

US Markets: US indices to re-open today after a holiday as best start to the New Year sees caution in early Asian trade. Oil, bond yields & equities rise in tandem as risk on trade returns in 2019. US/China trade talks at the end of January hold key for market direction going forward.

FII/DII Data: In yesterday’s trading session, FIIs sold 299 crores stock in the cash market whereas DIIs bought 520 crores worth of stock. In the derivative market, FIIs bought 485 crores of Index futures and bought 645 crores worth of Index options. In the Stock futures segment, FIIs bought 388 crores worth of stock futures and sold 162 crores stock options.

FII View: FIIs continued created bullish positions in the derivative segment which is deduced by the fact that they created 3985 long contracts in Index Futures while simultaneously creating 12903 long contracts in Index Call Options.

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