SGX Nifty indicates a higher opening for Indian markets


Equity tips:-

For today, we expect further consolidation around 11500 with the broader market again outperforming.





SGX Nifty is at 11525, up 14 points. For today, we expect further consolidation around 11500 with the broader market again outperforming.


Nifty saw another day of consolidation with an upward bias as it attempts to cross the 11500-mark. The Nifty saw volatile movements yesterday as it gyrated almost 150 points from low to high and back to close higher. The profit booking by local mutual funds continues even as foreign flows are the strongest in the last 2 years.



Global Markets: Asian markets opened mixed with the Japanese Nikkei trading marginally in the red even as most other indices traded positive. The up move in Chinese stocks continues with the Shanghai index up ~31% from the December lows. For today, we expect consolidation as markets await the Federal Reserve's direction on rates going forward.



US Markets: US stocks close with gains as Dow Jones inches closer to 26000 with energy stocks leading the gainers. Federal Reserve's 2-day meet begins today with no change in rates being the consensus. Bond yields hit 2.59%, the lowest in 2 years as 'risk on' trade returns with global rally in oil & equities. 



FII/DII data: In yesterday’s trading session, FIIs bought 1823cr worth of stock in cash, whereas DIIs sold 1269cr worth of stock. In the derivative market, FIIs bought 828cr of Index futures and bought 551cr worth of Index options. In the Stock futures segment, FIIs sold 802cr worth of stock futures and bought 59cr stock options.



FII View: In the Index future segment, FIIs index future long/short ratio shifted from 1.6x to 1.7x on account of marginal buying to the tune 6690 contracts of index futures. However, for a change, they added 16630 contracts of index put option in-order to hedge their bullish long future positions.



FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long21131241.71.5
Future Index Short122(2)50
Option Index Call Long2981(78)2.72.7
Option Index Call Short11017(92)
Option Index Put Long3315(82)1.11.1
Option Index Put Short292(1)(83)

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