SGX Nifty indicates a negative opening for Indian markets

For today, expect the broader market to see buying even as global cues see large caps consolidate.

Jul 18, 2019 02:07 IST India Infoline News Service

SGX Nifty is at 11,651, down 23 points. For today, expect the broader market to see buying even as global cues see large caps consolidate.

Nifty saw another positive session with the index hitting 11700 before profit booking saw the index end up 25 points at 11687. The buying was evident in Consumer stocks with FMCG index being the best performer followed by IT and PSU banks, while profit booking was witnessed in auto and pharma. For today, expect the broader market to see buying even as global cues see large caps consolidate.

Global markets: Asian indices opened weak with the Japanese Nikkei trading down over 1% as weak US cues set the stage for further profit booking in Asian markets. Stronger Yen also bode negative for Japanese exporters with oil fall seeing energy majors under pressure. Expect consolidation in Chinese stocks even as valuation comfort in select markets could see value buying take center stage.

FII/DII Data:  In yesterday’s trading session FIIs sold 17 crores worth of stock in cash whereas DIIs bought 209 crores worth of stock. In the derivative market, FIIs sold 385 crores of Index futures and bought 2302 crores worth of Index options. In the Stock futures segment, FIIs sold 204 crores worth of stock futures and bought 37 crores stock options.

FII View: In Index future segment, FIIs index future long/short ratio stood at 1x with marginal addition of short positions. However, on the Index option’s front, heavy call option buying was seen to the tune of 23029 contracts.

FII OI(000's) % Chg % Chg Since Expiry Long/Short Ratio Long/Short Since Expiry
Future Index Long 127 (1) 12 1.0 0.6
Future Index Short 133 3 92
Option Index Call Long 204 13 61 3.9 0.9
Option Index Call Short 53 (3) 77
Option Index Put Long 257 3 66 3.0 1.1
Option Index Put Short 85 3 56

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