Friday 29 March 2019

SGX Nifty Indicates A Flat Opening For Indian Markets

Posted by suhani varma on Friday, March 29, 2019 with No comments


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SGX Nifty is at 11424, down 22 points. For today, expect another day of an uptick as bulls gain momentum near fresh all-time highs with midcaps joining the rally.

Nifty saw a very strong close to the March series with the index gaining nearly 7.5% this month. The Nifty closed at the high point of the day as foreign investors bought stocks aggressively and bear scrambled for a cover. Bank Nifty ended the day at the new all-time highs gaining over 14% this series.

Global Markets: Asian markets opened in the green as the Japanese Nikkei bounced back after seeing bouts of profit booking this week. The undertone seems very favorable for equities even as the US-China trade talks get extended. Gold loses some value as risk-on trade sees equities outperform with money exiting safety. For today, we expect quiet trade as weekend blues keep bulls in check.

US Markets: US stocks bounce back as yields stabilize and energy stocks recover from lows. Gold prices fall as money chases equities, while the dollar sees some gains. China trade talks could take some more time for resolution warns President Trump administration.

FII/DII Data: In yesterday’s trading session, FIIs bought 3594cr worth of stock in cash, whereas DIIs sold 2080cr worth of stock. In the derivative market, FIIs bought 1815cr of Index futures and bought 3082cr worth of Index options. In the Stock futures segment, FIIs bought 1370cr worth of stock futures and bought 213cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio stands at 2.2x vs 1.7x on account of a rollover of heavy long positions. In the index call option, their long-short ratio stands at 2.5x. However, an uptick in the option buying figure was on account of unwinding of option writing positions which they were carrying in the March series. 

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long153(34)02.21.0
Future Index Short69(48)0
Option Index Call Long203(35)02.51.0
Option Index Call Short81(35)0
Option Index Put Long245(43)01.41.0
Option Index Put Short180(44)0

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