Tuesday 26 February 2019

SGX Nifty Indicates A Gap Down Opening For The Indian Market

Posted by suhani varma on Tuesday, February 26, 2019 with No comments



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SGX Nifty is at 10797, down 96 points. For today, expect some consolidation as markets digest the recent gains with the Nifty facing resistance around 10950. 

Nifty saw a superb rally in the second half of the day with the broader market joining in & the index closing at near one month high. Leaders were IT, private banks & autos as foreign investors bought aggressively. The breadth saw positive momentum with gainers beating losers by over 2:1 as retail participation saw midcaps join the rally.

Global Markets: Asian indices opened marginally in the green with the Japanese Nikkei trading up by 50 points. Asian indices have seen their best run in the past 2 months led by the Chinese indices which have re-entered bull markets after being in a bear market territory for almost the whole of 2018. Expect some consolidation with markets trading near recent highs pausing for breath as the US/China trade talks materialise.

US Markets: US stocks give up most intraday gains yet close at 4-month highs as Dow Jones enters bull market rising over 20% from December lows. Oil sees the biggest retreat of 2019 as President Trump indicates prices too high. Momentum on stocks continues to be positive as President Trump indicates signing a new trade deal with China.

FII/DII Data: In yesterday’s trading session, FIIs bought 2134cr stock in the cash market, whereas DIIs sold 1746cr worth of stock. In the derivative market, FIIs bought 297cr of Index futures and sold Rs204cr worth of Index options. In the Stock futures segment, FIIs sold 904cr worth of stock futures and bought 142cr stock options.

FII View: FIIs created bullish positions in the derivative segment, which is deduced by the fact that they built 2218 long contracts in the Index Futures while simultaneously creating 12587 long contracts in Index Call Options. The long-short ratio in Index Futures currently stands at 1.4 x

FIIOI
(in000's)
% Chg% Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long1911751.01.4
Index Short200027
Index Call Long2416343.01.0
Index Call Short80(7)39
Index Put Long348(4)222.21.1
Index Put Short15628

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