SGX Nifty indicates a positive opening for Indian Markets

For today, headlines in the pink papers indicate that the Government could rethink on the recent tax imposed on foreign investors with concessions on the cards.

Jul 15, 2019 02:07 IST India Infoline News Service

SGX Nifty is at 11,573, up by 27 points. For today, headlines in the pink papers indicate that the Government could rethink on the recent tax imposed on foreign investors with concessions on the cards, which should see some reprieve from foreign selling & buying in select sectors like private banks, pharma, & PSU banks. 

Nifty saw a sharp rally falter in the last hour as profit booking by foreign investors saw the Nifty give up all gains & close in the red. Select large cap index PSUs saw selling along with private banks & select IT stocks. 

Global Market: Asian indices opened mixed with the Japanese Nikkei seeing gains, while other indices saw profit booking trading in the red. This week will see more color from Chinese growth data, with a possibility of growth slowing down to 6.2% from 6.4% which could dictate the trend going forward for Chinese stocks. Further, the rise in yields will see some profit booking in Asian indices even though banks should benefit from rising yields.

US Market: US markets closed at record highs as Dow Jones climbed another 240 points with banks & financials leading the rally. Bond yields rose to 2.12% near 1- month highs with crude also seeing an uptick. All eyes on China growth, which could slip to 6.2% from 6.4% yoy.

FII/DII Data: In yesterday’s trading session FIIs sold 850 crores worth of stock in cash whereas DIIs bought 940 crores worth of stock. In the derivative market, FIIs bought 171 crores of Index futures and bought 702 crores worth of Index options. In the Stock futures segment, FIIs bought 296 crores worth of stock futures and sold 10 crores stock options.

FII View: In Index future segment, FIIs index future long/short ratio stood at 1x vs 0.9x with marginal addition of long positions. Moreover, on the Index option’s front, across the board long positions were formed in index call option, indicating a possibility of a recovery in the indices.

FII OI(000's) % Chg % Chg Since Expiry Long/Short Ratio Long/Short Since Expiry
Future Index Long 121 1.0 0.6
Future Index Short 126 (0) 81 
Option Index Call Long 173 13  37  3.1 0.7
Option Index Call Short 56 16  88 
Option Index Put Long 239 54  3.1 1.1
Option Index Put Short 77 10  43 

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