After easing to a four-month low, volatility in the domestic market is set to rise on Tuesday as investors decide on rolling over their positions to May F&O series amid weak global setup. Lets check out what matter to Dalal Street all through the day:
Singapore trading sets stage for negative start
Nifty futures on the Singapore Stock Exchange were trading 69 points, or 0.65 per cent, lower at 10,581, indicating a negative start for the Nifty50.
Nifty50 forms bullish candle
Nifty50 on Tuesday traded in a narrow 68-point range to closed above 10,600 mark for the first time since February 5. The index made a bullish candle on the daily chart. Analysts though noted that the index failed to break above 10,630 level on a closing basis, which continues to offer strong resistance for the index. Besides, the market breath remained in bears' favour.
Market-wide rollovers at 37%
The market-wide rollovers stood at 37 per cent till Tuesday which is in line with the average rollovers seen by this time in the last three F&O series. Nifty futures rollover stood at 28 per cent which were lower than the average rollovers of 34 per cent in the last three series. (Image source: Edelweiss Securities)
Volatility drops to lowest in four months
India VIX on Tuesday declined 9.47 per cent at 11.89. This was the lowest daily close for the index in last four months. Overall lower Volatility is supporting the major bullish bias of the market, said Chandan Taparia of Motilal Oswal Securities Volatility. "Put writing is seen at 10,600 while Call unwinding is seen at all the immediate strike prices which is providing scope for further upside," Taparia said.
Rising bond yields spook Asian markets
Asian shares were under pressure on Wednesday, with a rise in U.S. bond yields above the 3 percent threshold and warnings from bellwether U.S. companies of higher costs driving fears that corporate earnings growth may peak soon. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent while Japan's Nikkei dropped 0.6 per cent.
US stocks settled lower
The Dow Jones Industrial Average fell 424.56 points, or 1.74 per cent, to 24,024.13. The S&P500 lost 35.73 points, or 1.34 per cent, to 2,634.56. The Nasdaq Composite index dropped 121.25 points, or 1.7 percent, to 7,007.35, Reuters reported.
Q4 results today
Wipro, UltraTech Cement, Bajaj Corp, Indiabulls Real Estate, M&M Financial, Reliance Nippon Life Asset Management, Syngene International and Sterlite Technologies will be among companies that will report their quarterly earnings today.
FIIs sell Rs 681 cr worth of equities
Foreign portfolio investors (FPIs) sold Rs 681 crore worth of domestic stocks on Monday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 509 crore, data suggested.
Airtel post first loss in 15 years
Bharti Airtels India operations reported their first net loss in almost 15 years in the fourth quarter of 2017-18 and joined Idea Cellular and Vodafone India in the red, as Reliance Jio-led low tariffs and a cut in international termination rates (ITR) took toll on the countrys largest telco. Net loss, before exceptional items, for the India business in the three months ended March 31, 2018, stood at Rs 652.30 crore, compared with a net profit of Rs 770.80 crore a year earlier.
Indus Towers set to merge with Bharti Infratel
Indus Towers is set to merge with Bharti Infratel to create the worlds largest telecom tower company in a deal that may be announced as early as Wednesday. The merged entity will see Bharti Airtel and Vodafone Plc each holding 33%. Idea will exit through a cash payout.