Monday 18 March 2019

SGX Nifty Indicates A Positive Opening For Indian Markets

Posted by suhani varma on Monday, March 18, 2019 with No comments


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SGX Nifty is at 11498, up 24 points. On Friday, Nifty saw another day of big gains on Friday as huge foreign buying saw the Nifty surge intraday near 11500 before profit booking by local funds cooled the index to close up 85 points.

Further, banks led from the front as large-cap index heavyweights touched new life highs. FMCG stocks were on the losing side as money rotated out of expensive sectors into high beta midcaps where valuations seem cheaper.

Global Markets: Asian markets opened in the green as strong US cues on Friday saw equities continue to outperform globally as best performing asset class in 2019. Huge foreign ETF flows coupled with local buying has seen the Chinese markets surge from December lows as valuation & expectations of trade deal see huge buying emerge. 

US Market: US stocks close at 2019 highs as Dow Jones nears 26000 with Nasdaq firmly in the bull market. All eyes on Federal Reserve this week as interest rates expected to be on hold as bond yields continue to decline. Oil prices see the modest pullback, while US$ sees consolidation.

FII/DII Data: In yesterday’s trading session, FIIs bought 4323cr worth of stock in cash, whereas DIIs sold 2130cr worth of stock. In the derivative market, FIIs bought 2362cr of Index futures and sold 1534cr worth of Index options. In the Stock futures segment, FIIs sold 2475cr worth of stock futures and sold 45cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio shifted from 1.5x to 1.6x on account of heavy buying to the tune 32905 contracts of index futures. However, they continued the trend of writing speculative index put options as fresh short positions to the tune of 40843 contracts of index put options were created, indicating that a formation of a strong base for the March F&O series and continued upward market momentum. 

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long205191171.61.4
Future Index Short125853
Option Index Call Long2966(78)3.23.2
Option Index Call Short9414(93)
Option Index Put Long3155(82)1.11.0
Option Index Put Short29416(83)

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