SGX Nifty is at 11,306, down by 23 points. For today, expect some more consolidation on the index, while broader markets could see another leg up as valuations become extremely attractive for the medium term.
Global markets: Asian indices opened weak even as the US indices closed at fresh new highs led by the S&P 500 & the Nasdaq. The Japanese Nikkei saw cuts of 100 points in early trade as strength in the yen hurt exporters. Markets will be keenly awaiting progress of trade talks between US/China and the Federal Reserve action on rates with a rate cut on the cards after 2008.
US markets close with gains as Nasdaq continues to hit fresh new all-time highs. Technology stocks see fresh highs as Amazon and Microsoft lead the gainers. Oil prices remain range-bound as supplies see upsurge while Iran tensions keep prices from falling. All eyes on Federal Reserve meet this week as 25 bps rate cut already discounted.
FII/DII Data: In yesterday’s trading session FIIs sold 1503 crores worth of stock in cash whereas DIIs bought 1918 crores worth of stock. In the derivative market, FIIs sold 1049 crores of Index futures and sold 1007 crores worth of Index options. In the Stock futures segment, FIIs sold 721 crores worth of stock futures and bought 126 crores stock options.
FII View: In Index future segment, FIIs index future long/short ratio stood at 0.6x vs 0.8x with addition of short positions to the tune of 9751 contracts. However, on the Index option’s front, they created net buying positions in both call and put options, indicating an expectation of volatility.
MORE WILL UPDATE SOON!!
0 comments:
Post a Comment