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SGX Nifty indicates a flat opening for Indian Markets

For today, expect consolidation with broader markets seeing further strength, while index remains range bound with an upward bias.
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SGX Nifty is at 11,862, down by 3 points. For today, expect consolidation with broader markets seeing further strength, while index remains range bound with an upward bias.


Nifty witnessed a superb 150 point rally which saw bears rush to cover as the broad-based rally caught almost unaware. Auto, pharma and PSU banks were on fire as short covering and value buying saw huge outperformance. 



Global Market: Asian indices opened flat on the last day of a superb week for stocks as markets consolidate after the heady run of last few days. Lower bond yields globally have triggered the best week for equities in this year as money chases stocks. Asian indices will see extended flows as emerging markets would gain given the valuation comfort and lower cost of money set to boost corporate earnings.



US Market: US indices closed with gains as S&P 500 hits fresh all-time highs, while Dow Jones is just shy of new all-time highs. Oil prices rise sharply as Iran shoots down US drone which raises the geopolitical risk. Dovish central banks trigger best June rally in years as money chases equities.


FII/DII Data: In yesterday’s trading session FIIs sold 438 crores worth of stock in cash whereas DIIs bought 1241 crores worth of stock. In the derivative market, FIIs sold 237 crores of Index futures and bought 1508 crores worth of Index options. In the Stock futures segment, FIIs bought 1076 crores worth of stock futures and bought 133 crores stock options.


FII View: In Index future segment, FIIs index future long/short ratio stood at 1,4x vs 1.5x with a net addition of short positions to the tune of 6966 contracts. However, on the Index option’s front, on account of weekly expiry, across the board unwinding of open positions was seen in both calls and put option strikes.    

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long16627 1.40.9
Future Index Short12216 41 
Option Index Call Long186(10)43 3.11.3
Option Index Call Short60(28)10 
Option Index Put Long341(9)43 2.91.4
Option Index Put Short119(3)4

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