Wednesday 13 February 2019

SGX Nifty Indicates A Positive Opening For The Indian Market

Posted by suhani varma on Wednesday, February 13, 2019 with No comments




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SGX Nifty is at 10,983, up 31.50 points. For today, expect market to stage a rally as oversold conditions could see short covering pull back.Nifty saw a very range bound session end with weakness as bears got the upper hand in the last hour to hammer the index down 60 points.The breadth again was negative as midcaps saw selling, while large caps also gave in with PSU & private banks falling sharply. 

Global Markets: Asian indices opened in the green as positive US cues saw the Japanese Nikkei rise 200 points in early trade after a 500 point rally yesterday.The New Year has rung in well for most Asian markets as investors have bought equity & markets have rallied well. Bond yields also rose marginally as investors chased higher risk in equities.

US Markets: US stocks rally strongly as trade talks see positive response from President Trump. Also, US shutdown gets averted as Congress members give in which sees stocks soar higher. Oil rallies 1.5% as growth prospects reignite oil prices.

FII/DII Data: In yesterday’s trading session FIIs sold 466cr stock in the cash market whereas DIIs sold Rs122cr worth of stock. In the derivative market, FIIs bought 401 crores of Index futures and bought Rs607cr worth of Index options. In the Stock futures segment, FIIs sold Rs546cr worth of stock futures and bought 232cr stock options.

FII View: FIIs created bullish positions in Index Futures segment which is deduced by the fact that they created 6485 long contracts. However, considering the volatility in the market they also purchased 19988 long contracts in Index Put Options. The long-short ratio in Index Futures currently stands at 1.7x.

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