Ways2Capital Reviews : Markets Indicating A Flat Opening After Three Consecutive Sessions Of Upsurge

SGX Nifty is currently trading in the red down 15 points at 10,658.

Markets could take a breather and trade sideways in today’s session with Nifty having rallied nearly 300 points in the past 3 sessions.

The action is expected to be more stocks specific with the Q4 results currently underway, BEL, BHEL, BPCL, Coal India, Dish TV, IOB and Ipca Lab, are some of the large-cap companies set to announce their Q4 results today.

Global markets
Major Asian markets are trading in the red, Nikkei is down 0.66%, Hang Seng is down 0.46%, while the Shanghai Composite is trading flat 0.03% lower.

US Markets were shut yesterday on account of Memorial Day.

European markets closed in the red yesterday with CAC and DAX ending 0.61% and 0.58% lower respectively.

FII Data:
In yesterday’s trading session, FII’s sold 795 crores stock in the cash market whereas DII’s bought 1,017 crores worth of stock.

In the derivative market, FII’s bought 479 crores of Index Futures and bought 480 crores worth of Index options.

In the stock futures segment, FII’s bought 438 crores worth of stock futures and sold 149 crores stock options

FII View:
FII added fresh long positions in yesterday’s trading session, which is deduced by the fact that FII’s created 5,350 long contracts in Index Futures, while they simultaneously reduced 7,548 short contracts in Index Call options. The long-short ratio in Index Futures currently stands at 0.9x.

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About Bhoomi Desai