Ways2Capital Reviews : Markets Are Expected To Trade With A Positive Bias

SGX Nifty is currently trading flat up 5 points at 10,721.

Markets are expected to trade with a positive bias with the GDP numbers coming better than expected. The Indian economy grew 7.7% in January-March, the fastest in nearly two years, regaining the title of the fastest growing economy back from China. However, trade concerns which lead to a correction in global equities would keep traders a bit worried.

Global markets
Major Asian markets are trading mixed, Nikkei is up 0.24%, Hang Seng is down 0.19% while the Shanghai Composite is trading 0.26% lower.

US Markets: Stocks witnessed a sell-off in yesterday’s trade on account of fresh trade war concurs.

The Dow dipped 1% to 24,415.85, the Nasdaq fell 0.3% to 7,442.12, while the S&P 500 corrected 0.7% to 2,705.28.

The weakness on Wall Street came following news that the Trump administration is considering to impose steel and aluminum tariffs on Canada, Mexico, and the European Union.

European market also closed in the red yesterday with FTSE down 0.15%, CAC was down 0.54%, while DAX ended 1.42% lower.

FII Data:
In yesterday’s trading session, FII’s sold 15 crores stock in the cash market whereas DII’s sold 266 crores worth of stock.

In the derivative market, FII’s sold 643 crores of Index futures and bought 1,248 crores worth of Index options.

In the stock futures segment, FII’s bought 1,207 crores worth of stock futures and bought 100 crores stock options.

FII View:
Yesterday being the last day of the May series unwinding was witnessed by FII, as they reduced their short position in Index futures to the tune of 91,061 contracts, while they simultaneously reduced 1,77,901 long contracts in Index Put options. The long-short ratio in Index Futures currently stands at 0.8x.
 
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