Wednesday 23 January 2019

SGX Nifty Indicates A Flat Opening For The Indian Markets

Posted by suhani varma on Wednesday, January 23, 2019 with No comments

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SGX Nifty is at 10,943, up 11 points. For today, we should see more emphasis on mid-caps as more earnings & better results bring back confidence in the markets.

Nifty saw a volatile session with the index falling nearly 100 points before last hour buying/short covering drove the Nifty up to close down 38points. Better than expected results from large mid caps set the ball rolling which saw the mid-cap index witness strong buying in the last hour of trade.

Global Markets: Asian indices opened in the red with the Japanese Nikkei trading down over 100 points as markets had already factored a US correction on Tuesday. Expect earnings to be the real catalyst going forward as trade talks are now getting discounted by the markets. Chinese stimulus to be keenly watched as Government gets aggressive in reviving growth.

US Markets: Dow Jones fell over 300 points as profit booking & caution on Chinese/US talks pulled down markets. US indices see a correction after rallying almost 13% from December lows. Oil prices also see the sharp correction as rally seems overdone in short term.

FII/DII Data: In yesterday’s trading session FIIs sold 78cr stock in the cash market whereas DIIs sold Rs84cr worth of stock. In the derivative market, FIIs sold 460cr of Index futures and bought Rs1852cr worth of Index options. In the Stock futures segment, FIIs bought 763cr worth of stock futures and sold 175cr stock options.

FII View: FIIs reduced their bullish positions in Index Futures which is deduced by the fact that they reduced 5,349 long contracts in the segment while they simultaneously created 31,996 net log contracts in Index Put options. The long-short ratio in Index Future currently stands at 0.8x which is a bearish sign.

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long224(2)520.90.8
Index Short261080
Index Call Long2292733.00.8
Index Call Short766130
Index Put Long41610852.30.6
Index Put Short1822196

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