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SGX Nifty indicates a negative opening for Indian Markets

SGX Nifty is at 11,766, down 51 points. For today, expect a weaker opening, however, a second-half recovery could be on the cards as Government announces raising money through Sovereign bonds which could see yields fall further with rupee also hitting a 6 month high.   

Nifty saw another day of volatile movements with the index closing down 135 points lower as markets were disappointed with the initial response on the Union Budget. Increase in cess on the super rich & rise in petrol/diesel hurt sentiment while the Government kept the deficit intact and spurred lending through PSU recapitalization & special window for NBFCs asset buyout. 

Asian indices opened weak with the Japanese Nikkei trading lower by over 150 points, while the South Korean Kospi was down over 1.5%. Further, semiconductor stocks fell in the US as pricing pressure saw stocks tumble with the Asian markets also reacting. Chinese data due this week would be crucial as stocks get set for earnings outlook with progress on US/China trade talks improving sentiment.

US markets closed Friday's half-day session with losses as jobs number comes stronger than expected. This raises concern over any rate cut by the Federal Reserve as bond yields jump to 2.04%. Federal Reserve meets this Wednesday/Thursday should be crucial even as technology stocks fall with pressure on semiconductor pricing.
FII/DII Data:  In yesterday’s trading session FIIs sold 89 crores worth of stock in cash whereas DIIs bought 276 crores worth of stock. In the derivative market, FIIs sold 673 crores of Index futures and sold 68 crores worth of Index options. In the Stock futures segment, FIIs sold 67 crores worth of stock futures and sold 132 crores stock options.

FII View: In Index future segment, FIIs index future long/short ratio stood at 1.4x vs 1.6x with marginal addition of short positions. Moreover, on the Index option’s front, a marginal hint of net call writing and put option buying positions were created, indicating an expectation of a negative bias in the index. 

FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long1221.40.8
Future Index Short8928 
Option Index Call Long1373.20.7
Option Index Call Short4333 45 
Option Index Put Long18910 22 2.10.7
Option Index Put Short9218 

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