SGX Nifty indicates a marginally higher opening for markets

For today, we expect the broader market to outperform as investors get more confidence in buying mid caps with the market breadth showing improvement.

Jan 10, 2019 02:01 IST India Infoline News Service

Stock Market Trader, Stock Trader, Trading
SGX Nifty is at 10,909, up 33 points. For today, we expect the broader market to outperform as investors get more confidence in buying mid caps with the market breadth showing improvement.

On Wednesday, Nifty saw a volatile session end with gains as Nifty edged up above 10850. FMCG, private banks, and financial services lead the gainers, while PSU banks and metals saw profit booking. The breadth was positive with mid-caps also joining the rally. 

Asian Markets: Asian indices saw profit booking as investors encased the recent gains with the Japanese Nikkei trading 150 points down in early trade. The first 10 days of January have seen the best start to the New year in a long time with the global indices seeing huge gains in equities. The smart rally in oil has also acted as a catalyst to energy stocks worldwide, which were underperformed in the last few months.

US Markets: US indices have seen a 7th straight day of gains as 'fear of missing out' prompts investors' participation as equities outperform globally. The US dollar sees further weakness as Federal Reserve minutes indicate no rate hikes in March. Oil moves over 20% from December lows as cuts in output to kick-in from January.

FII/DII Data:  In yesterday’s trading session, FIIs bought 276cr stock in the cash market whereas DIIs bought Rs439cr worth of stock. In the derivative market, FIIs bought 460cr of Index futures and bought Rs1249cr worth of Index options. In the Stock futures segment, FIIs sold 366cr worth of stock futures and bought 35cr stock options.

FII View: FIIs created bullish positions in the derivative segment in yesterdays’ trading session, which is deduced by the fact that they created 3710 net long contracts in Index Futures while simultaneously creating 8616 long contracts in Index Call Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 194 3 31 0.9 0.9
Index Short 205 1 42
Index Call Long 192 5 45 3.3 0.8
Index Call Short 58 1 76
Index Put Long 355 7 58 2.9 0.8
Index Put Short 122 6 100

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