Ways2Capital Reviews : Markets Set To Open On A Positive Note, All Eyes On TCS Earnings

SGX Nifty is currently trading in the green up 30 points at 10900. Markets are expected to continue the positive momentum from yesterday’s trading session. The key focus in today’s trade would be the earnings of TCS and IndusInd Bank, who would be announcing their Q1 results later in the day.

Global markets: Major Asian markets are trading with a positive bias at present; Nikkei is up 0.9%, Hang Seng is up 0.70% while Shanghai Composite is trading flat down 0.13%.

US Markets: Stocks witnessed a strong rally in yesterday’s trade. The Dow rallied 1.3% to 24,776.59, while the Nasdaq and S&P 500 advanced 0.9% to 7,756.20 and 2,784 respectively. Buying interest was generated in reaction to strength in the overseas markets, as traders shrugged off recent concerns about a global trade war. Wall Street also reacted positively to last Friday's Labor Department report showing better than expected job growth in the month of June.

European market too ended in the green yesterday with FTSE up 0.91%, CAC was up 0.41% while DAX closed 0.38% higher.

FII Data: In Friday’s trading session FII’s sold 569 crores stock in the cash market whereas DII’s bought 740 crores worth of stock. In the derivative market, FII’s bought 869 crores of Index futures and bought 1007 crores worth of Index options. In the Stock futures segment, FII’s sold 90 crores worth of stock futures and bought 50 crores stock options.

FII View: In yesterday’s trading session FII built bullish positions in the market which is deduced by the fact that they purchased 14759 long contracts while simultaneously creating 17213 long contracts in Index Call options.
 
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