F&O expiry may trigger volatility

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 25 points at the opening bell. Axis Bank, Maruti Suzuki India and Tata Steel will announce their January-March 2019 quarterly earnings today, 25 April 2019.

Trading could be volatile as traders roll over positions in the F&O segment from the near month April 2019 series to May 2019 series. The April 2019 F&O contracts expire today, 25 April 2019.

Overseas, Asian shares were trading lower on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth. US stocks slipped on Wednesday after ending the previous session with a record as investors waited for more earnings reports.

Back home,key equity indices reported sharp gains yesterday, 24 April 2019, snapping three sessions of losses, helped by rally in index heavyweights Reliance Industries and HDFC twins. The Sensex settled above the psychological 39,000 level. The Nifty settled above the 11,700 mark. The Sensex rose 489.80 points or 1.27% to settle at 39,054.68. The Nifty 50 index rose 150.20 points or 1.30% to settle at 11,726.15.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 974.88 crore yesterday, 24 April 2019 as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 657.06 crore yesterday, 24 April 2019, as per provisional data.

Among corporate news,State Bank of India (SBI) announced that the executive committee of the central board in its meeting held on 24th April 2019 has approved long term fund raising in single/multiple tranches upto $2.5 billion, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2019-2020. The announcement was made after market hours yesterday, 24 April 2019.

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