Ways2Capital Reviews : Markets Indicating A Marginally Positive Opening Ahead Of Weekly Bank Nifty Expiry

SGX Nifty is currently trading in the green up 25 points at 10,446.

Markets could witness a sideways consolidation in today’s trade after witnessing constant selling pressure in the past few session.

City Union Bank, Cummins, Gail, Granules India, Kaveri Seed Company, Pidilite and United Spirits are some of the large-cap companies set to announce their Q4 results today.

Global markets
Major Asian markets are trading mixed, Nikkei is down 1.22%, Hang Seng is down 0.08%, while the Shanghai Composite is trading up 0.03% higher.

US Markets: Stocks witnessed a positive rebound after initially witnessing selling pressure with the major averages closing near the days high.

The Dow edged up 0.2% to 24,886.81, the Nasdaq climbed 0.6% to 7,425.96 and the S&P 500 was up 0.3% ending at 2,733.29.

The positive rally seen late in the session came, as the minutes of the Fed's monetary policy meeting, earlier this month was seen as dovish.

European markets closed in the red yesterday with FTSE ending 1.14% lower, the CAC was down 1.33% while DAX ended 1.49% lower.

FII Data:
In yesterday’s session, FII’s sold 311 crores stock in the cash market whereas DII’s bought 789 crores worth of stock.

In the derivative market, FII’s sold 1740 crores of Index futures and sold 160 crores worth of Index options.

In the stock futures segment, FII’s bought 158 crores worth of stock futures and sold 1.8 crores stock options.

FII View:
FII continued their selling spree in yesterday’s session with the fresh addition of short positions, which is deduced by the fact that FII’s created 15,856 short contracts in Index Futures, while they simultaneously reduced 5,603 long contracts in Index Futures. The long-short ratio in Index Futures has come below 1 for the first time since the start of the May expiry.
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About Bhoomi Desai