Ways2Capital Reviews : Markets Indicating A Negative Opening As Trade War Concerns Linger

SGX Nifty is currently trading in the red down 51 points at 10742. Markets are expected to trade with a negative bias in today’s session as trade war concerns between US and China sore leading to selling pressure in global equities.

Global markets: Major Asian markets are trading with deep cuts at present; Nikkei is down 0.62%, Hang Seng is down 1.85% while Shanghai Composite is trading 1.32% lower.

US Markets: Major averages ended on a lackluster note in yesterday’s trade. The Dow closed lower for the fifth consecutive session, although the tech-heavy Nasdaq managed to close marginally in the green. The Dow fell 0.4 percent to 24,987.47, the S&P 500 dipped 0.2% to 2,773.87, while the Nasdaq inched up less than a tenth of a percent to 7,747.02. The weakness on Wall Street reflected concerns about a global trade war after the U.S. and China announced plans to impose tariffs on billions of dollars worth of imported goods, with China retaliating soon after.

European market ended in the red yesterday with FTSE down 0.03%, CAC was down 0.94% while DAX closed 1.37% lower.

FII Data: In yesterday’s trading session FIIs sold 754 crores stock in the cash market whereas DIIs bought 821 crores worth of stock. In the derivative market, FIIs sold 576 crores of Index futures and bought 511 crores worth of Index options. In the Stock futures segment, FIIs sold 157 crores worth of stock futures and sold 70 crores stock options.

FII View: In yesterday’s trading session FII continued to build bearish positions in the market which is deduced by the fact that that they purchased 2824 short contracts in Index futures while simultaneously reducing 4107 long contracts in Index futures and 7865 short contracts in Index Put options. The long short ration in Index Futures currently stands at 0.6x vs 0.7x
 
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