Monday 1 April 2019

SGX Nifty Indicates A Positive Opening For Indian Market

Posted by suhani varma on Monday, April 01, 2019 with No comments


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SGX Nifty is at 11723, up 48 points. For today, we expect more action on financials ahead of the monitory policy due on April 4, with consensus showing a 25 basis point rate cut by the Reserve Bank of India.

Nifty saw a very strong March as equities bounced back with huge fervor as foreign institutional investors turned big buyers. This saw the broader markets also join the rally with mid-cap and small-cap indices rising in tandem.

Global Market: Asian markets opened higher with the Japanese Nikkei trading firm over 350 points on the 1st day of the financial year. This quarter has seen equities do well globally with emerging markets seeing a huge outperformance. Expect more color as Chinese data starting to show traction on the upside with earnings visibility seeing more gains for stocks.

US Markets: US stocks bounce back to end the best quarter in the last 3 years as stocks outperformed globally. The crude oil remains firm, while US bond yields also rally to close at 2.42%. US-China trade talks finality will be the key to market movement in April.

FII/DII Data: In yesterday’s trading session, FIIs sold 86cr worth of stock in cash, whereas DIIs bought 1724cr worth of stock. In the derivative market, FIIs sold 667cr of Index futures and bought 638cr worth of Index options. In the Stock futures segment, FIIs bought 388cr worth of stock futures and bought 154cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio stands at 2.1x vs 2.2x on account of marginal unwinding of long positions. In index option they created 10435 contracts of call writing positions and 19045 contracts of put buying positions, indicating a marginal addition of bearish positions. However, their overall positioning continues to remain on the long side.
FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long145(5)(5)2.10.9
Future Index Short7011
Option Index Call Long211442.30.9
Option Index Call Short911313
Option Index Put Long264881.41.0
Option Index Put Short18955

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