Pre Session Commentary

F&O expiry may keep market volatile
(28-Jun-2018, 08:36 Hours IST)  

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 12 points at the opening bell.

Trading could be volatile as traders roll over positions in the F&O segment from the near month June 2018 series to July 2018 series. The June 2018 F&O contracts expire today, 28 June 2018.

Overseas, Asian stocks fell as traders remained skeptical about the Trump administration's announcement of less harsh measures on Chinese investments. US stocks fell amid renewed concern that the Trump administration will crack down on Chinese investment.

Back home, key benchmark indices declined sharply yesterday, 27 June 2018 tracking weakness in other Asian stocks. The barometer index, the S&P BSE Sensex, lost 272.93 points or 0.77% at 35,217.11. The Nifty 50 index lost 97.75 points or 0.91% at 10,671.40.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 67.44 crore yesterday, 26 June 2018 as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 84.31 crore yesterday, 26 June 2018, as per provisional data.

Among stocks, shares of Tata Steel will be watched. As per reports Thyssenkrupp AG and Tata Steel are nearing a 15 billion euros ($17.4 billion) deal this week to combine their European assets into a global steel giant. The combination of Thyssenkrupp's and Tata Steel's European steel assets, first announced in September, would create the continent's second-largest steelmaker after ArcelorMittal with 15 billion euros in combined sales, reports added.

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