Friday 26 April 2019

SGX Nifty Indicates A Flat Opening For Indian Markets

Posted by suhani varma on Friday, April 26, 2019 with No comments



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SGX Nifty is at 11,742 levels, up 12 points. On Thursday, the local mutual funds were the main culprits as they sold aggressively even as foreign investors were large buyers.

Nifty saw a volatile expiry as the index swung over 170 points during intraday trade as derivative contracts expiry coupled with the rupee weakness saw selling accentuate. The rupee hitting a 2-month high coupled with crude crossing US$75 saw last hour pressure on banks & financial services stocks.

Global markets: Asian markets opened weak led by the Japanese Nikkei as the Japanese stock market heads into a 10-day holiday with profit booking on the cards. Weak earnings guidance from 3M in the US saw industrial stocks lose ground which is seeing a similar effect on most Asian stocks. IT stocks will continue to outperform as currency weakness & better outsourcing continue to see earnings upgrade.

US markets: Industrial drag Dow Jones lower by over 0.5% even as Nasdaq closes in the green as Facebook numbers & guidance beat estimates. The dollar sees further strength with yields hitting 2.57%.

FII/DII Data: In yesterday’s trading session, FIIs bought 3786cr worth of stock in cash, whereas DIIs sold 4070cr worth of stock. In the derivative market, FIIs bought 152cr of Index futures and sold 508cr worth of Index options. In the Stock futures segment, FIIs bought 579cr worth of stock futures and bought 368cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio stands at 3x vs 2.2x, on account of an unwinding of more short positions in comparison to long positions. On the Index option’s front, across the board unwinding was seen in both calls and put option strikes with a long/short ratio of both call and put options standing at ~2.3x. 

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long184(9)03.11.0
Future Index Short60(34)0
Option Index Call Long150(42)02.41.0
Option Index Call Short63(31)0
Option Index Put Long233(43)02.31.0
Option Index Put Short102(57)0

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