Ways2Capital Reviews : Markets Likely To Continue Positive Momentum As Crude Oil Prices Correct

SGX Nifty is currently trading in the green up 18 points at 10,633.

Markets are likely to extend the positive momentum witnessed in the last week with a drop in crude prices acting as a positive trigger, crude for July delivery plummeted $2.83 to $67.88 a barrel following reports oil producing nations are considering easing production limits.

Aurobindo Pharma, Bank of India, L&T, NHPC, NMDC, NTPC, and REC are are some of the large-cap companies set to announce their Q4 results today.

Global markets
Major Asian markets are trading marginally lower, Nikkei is down 0.15%, Hang Seng is down 0.12%, while the Shanghai Composite is trading 0.36% lower.

US Markets: Major averages ended on a mixed note in Friday’s trading session, Dow and S&P 500 dipped 0.2% to 24,753.09 and to 2,721.33 respectively, while the tech-heavy Nasdaq inched up 0.1% to 7,433.85.

The choppy trading on Wall Street came as some traders were away from their desks, ahead of the long Memorial Day weekend.

European markets also closed on a mixed note on Friday with FTSE ending 0.18% higher, the CAC was down 0.11%, while DAX ended 0.64% higher.

FII Data:
In Friday’s trading session, FII’s sold 768 crores stock in the cash market whereas DII’s bought 887 crores worth of stock.

In the derivative market, FII’s bought 538 crores of Index futures and bought 447 crores worth of Index options.

In the stock futures segment, FII’s bought 406 crores worth of stock futures and bought 3 crores stock options.

FII View:
FII's added fresh long positions in Friday’s trading session, which is deduced by the fact that FII’s created 9,561 long contracts in Index Futures, while they simultaneously created 7,637 long contracts in Index Call options. The long-short ratio in Index Futures currently stands at 0.9x.
 
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