Wednesday 20 March 2019

SGX Nifty Indicates A Flat Opening For Indian Markets

Posted by suhani varma on Wednesday, March 20, 2019 with No comments


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SGX Nifty is at 11570, down 6 points. For today, we expect intraday volatile movements as global cues could hurt sentiments marginally. We expect midcaps to continue to see robust inflows as local funds turn big buyers.

On Tuesday, Nifty saw another strong session with the index easily surpassing the 11500-mark as foreign buying continues unabated. Nifty IT, FMCG, and PSU banks indices saw massive buying/short covering as foreign investors bought aggressively.

Global Market: Asian markets opened weak after overnight US markets hit a roadblock with the Dow Jones retreating from 26000 & above. Asian indices have seen robust flows & have been best performing equity indices with China leading from the front. Expect consolidation as profit booking will emerge until more clarity emerges over trade talks.

US Markets: US stocks give up gains of over 200 points hit in intraday trade as Dow Jones succumbs to profit taking. Talks of slowdown and rift in trade talks between the US and China hurt sentiments, which sees stocks fall along with bond yields. Federal Reserve begins to meet today on rates with consensus indicating no change in rates. 

FII/DII data: In yesterday’s trading session, FIIs bought 2132cr worth of stock in cash, whereas DIIs sold 1254cr worth of stock. In the derivative market, FIIs bought 288cr of Index futures and bought 554cr worth of Index options. In the Stock futures segment, FIIs sold 601cr worth of stock futures and bought 34cr stock options.

FII View: In the Index future segment, FIIs index future long/short ratio stands at 1.7x on account of marginal buying to the tune 9198 contracts of index futures. However for a change, for the first time in the March series, they marginally reduced their short positions to the tune of 8025 contracts in speculative index put options. Overall with they continue to remain bullish for the March series as long/short ratio in index call options stands at 2.7x level.

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long22041331.71.5
Future Index Short127456
Option Index Call Long3021(78)2.72.7
Option Index Call Short1123(92)
Option Index Put Long3320(82)1.21.1
Option Index Put Short284(3)(84)

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