Tuesday 23 April 2019

SGX Nifty Indicates Flat Opening For Indian Markets

Posted by suhani varma on Tuesday, April 23, 2019 with No comments


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SGX Nifty is at 11624, up 7 points. News of oil spike hit sentiment with an expiry of derivative contracts adding pressure on rollovers.

On Monday, Nifty saw a weak start get even weaker as the trading day progressed with the nifty seeing its biggest loss for the year 2019. Oil marketing, aviation & banks were the biggest losers as an overbought derivative heavy market tanked under the weight of fear. The rupee lost ground to hit 3-month lows even as foreign investors remained buyers in the carnage.

Global market: Asian markets opened mixed with the Japanese Nikkei seeing minor losses, while other indices saw flat to quiet start. The long Easter holidays will see markets react to higher crude & global cues as trading gets underway. The oil spike maybe short lived as OPEC meets in June to review cut in production even as President Trump reassures all of higher output by Saudi Arabia & other members of the oil cartel.

US Markets: US stocks close lower as oil hits 6-month highs even as President Trump imposes sanctions on Iran oil exports. Nasdaq closes in the green with IT earnings looking to beat market estimates. Energy stocks rise even as financials lag as markets digest the erratic stance of the US regarding Iranian oil exports.

FII/DII Data: In yesterday’s trading session, FIIs bought 73cr worth of stock in cash, whereas DIIs sold 68cr worth of stock. In the derivative market, FIIs bought 294cr of Index futures and bought 3412cr worth of Index options. In the Stock futures segment, FIIs sold 454cr worth of stock futures and sold 88cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio stands at 2x vs 1.8x, on account of an unwinding of more short positions in comparison to the long positions. On the Index option’s front, FII’s created long vega positions by taking long positions in call options to the tune of 12325 contracts and buying put options to the tune of 30282 contracts, indicating their expectations of a rise in the volatility in the index.

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long174(1)92.01.2
Future Index Short89(8)(7)
Option Index Call Long2435(10)3.51.0
Option Index Call Short69(1)(6)
Option Index Put Long383981.71.2
Option Index Put Short223(3)(6)


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