Wednesday, 3 April 2019

SGX Nifty Indicates A Positive Opening For Indian Markets

Posted by suhani varma on Wednesday, April 03, 2019 with No comments


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SGX Nifty is at 11797, up 10 points. For today, we expect markets to make an attempt to touch new highs as the broader market sees consolidation ahead of the Reserve Bank of India’s meet on Thursday on monetary policy.

On Tuesday, Nifty saw a very quiet session with all dips being bought into and the index closing in the green. The Sensex scaled new highs yesterday, while the Nifty is just shy by 30 points. Auto, realty, and IT stocks gained, while pharma, metals, and media saw profit booking.

Global Markets: Asian markets opened in the green as US futures also saw strength after talks indicated that the US/China trade talks had been very successful. The Japanese Nikkei traded at a 1 month high as zero money policy of Bank of Japan saw carry trade get stronger. For today, expect more color from the Chinese markets as trade data is expected to be strong.

US Markets: US stocks see mild profit booking as traders lighten positions. Nasdaq continued uptrend with over 27% gains from December lows. Crude rises further to 2019 highs as the cut in output by OPEC sees supply constraints. Bond yields edge up to 2.5% as risk-on trade gains momentum.

FII/DII Data: In yesterday’s trading session, FIIs bought 543cr worth of stock in cash, whereas DIIs sold 438cr worth of stock. In the derivative market, FIIs sold 75cr of Index futures and sold 39cr worth of Index options. In the Stock futures segment, FIIs bought 646cr worth of stock futures and bought 2cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio stands at 2.1x without any major activity seen in the future contract. However, in index options they created 8375 contracts of long positions in call options and 9475 contracts of writing input options, indicating a continued formation of bullish positions.

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long155112.10.9
Future Index Short7427
Option Index Call Long2304132.41.0
Option Index Call Short96(0)19
Option Index Put Long278(0)131.41.0
Option Index Put Short199511

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