SGX Nifty indicates a positive opening for Indian Markets

For today, expect another volatile day as mid caps seeing further pain cannot be ruled out, while large caps see extended flows with Nifty being rangebound with a positive bias.

Jun 20, 2019 02:06 IST India Infoline News Service

SGX Nifty is at 11,751.50, up 33 points. For today, expect another volatile day as mid caps seeing further pain cannot be ruled out, while large caps see extended flows with Nifty being rangebound with a positive bias.

Nifty saw a positive close after very volatile intraday movements with the Nifty gyrating over 175 points from high to lows.The problem with NBFCs continues as collateral selling by mutual funds against promoter pledge sees intra day set back for the positive global momentum.

Global Market: Asian indices opened mixed with the Japanese Nikkei seeing further gains after yesterday's sharp rally. With globally liquidity being printed by Central Banks, expect emerging markets to see risk on trade as Asian indices set to witness huge foreign inflows in 2nd half of the year. All eyes now on US/China talks set for last week of June with President Trump indicating positive rhetoric till now.

Asian Market: US indices close with gains as Federal Reserve sticks to no change on rates, however changes stance to extremely 'dovish' with July rate cut assured. Bond yields fall below 2% for 10-year paper as markets price in 2 rate cuts in 2019. Oil prices rise as US supplies fall short of estimates.

FII/DII Data: In yesterday’s trading session FIIs sold 97 crores worth of stock in cash whereas DIIs sold 105 crores worth of stock. In the derivative market, FIIs bought 354 crores of Index futures and bought 894 crores worth of Index options. In the Stock futures segment, FIIs sold 575 crores worth of stock futures and sold 37 crores stock options.

FII View: In Index future segment, FIIs index future long/short ratio stood at 1.5x with no major changes in long and short positions. However, on the Index option’s front, across the board buying was seen in call and put option strikes to the tune of 9105/6683 contracts, hinting an expectation of a rise in volatility going forward.

FII OI(000's) % Chg % Chg Since Expiry Long/Short Ratio Long/Short Since Expiry
Future Index Long 157 20  1.5 1.0
Future Index Short 106 (1) 22 
Option Index Call Long 206 59  2.4 1.0
Option Index Call Short 84 54 
Option Index Put Long 375 58  3.1 1.5
Option Index Put Short 122

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