Monday 13 May 2019

SGX NIFTY INDICATES NEGATIVE OPENING FOR INDIAN MARKETS

Posted by suhani varma on Monday, May 13, 2019 with No comments


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SGX Nifty is trading at 11,254 levels, down 34 points. For today, the broader market may outperform as oversold conditions see value buying.

Nifty saw a volatile day with intraday gains getting wiped out in the last hour & the index closing in the red for the 8th day running. The sentiment was weak with large-cap Reliance seeing further weakness as select brokerage downgraded, which led to selling accentuate. PSU banks led by SBI & financial services stocks saw buying support as SBI results saw a huge bout of short covering & value buying.

Global Market: Asian markets opened in the red led by the Japanese Nikkei as traders kept light positions with higher volatility hurting sentiment. For today, expect local institutional buying to help prop Chinese stocks as foreign selling will continue to see weakness. All eyes on President Trump & his forthcoming dialogue with the Chinese Premier which could break the ice on talks.

US Market: Dow Jones rallies to close up 115 points recovering almost 500 points from day’s low as trade tariff rhetoric sees volatility peak. Talks continue with a little breakthrough as global markets continue to see-saw with US bond yields falling as money chase fixed income.

FII/DII Data: In yesterday’s trading session, FIIs sold 1245cr worth of stock in cash, whereas DIIs bought 1057cr worth of stock. In the derivative market, FIIs sold 1296cr of Index futures and sold 36cr worth of Index options. In the Stock futures segment, FIIs bought 362cr worth of stock futures and bought 27cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio stood at 1.4x vs 1.6x on account of a creation of fresh short positions and unwinding of long positions. Moreover, on the Index option’s front, they created short positions in call options to the tune of 23466 contracts and buying positions in put options to the tune of 20130 contracts, indicating a berish stance on the indices.
FIIOI(000’s)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long141(9)(23)1.40.5
Future Index Short100168
Option Index Call Long1984321.60.7
Option Index Call Short1242397
Option Index Put Long3187362.21.0
Option Index Put Short142139

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