Markets indicate a flat opening as exit polls predict a hung assembly in Karnataka

STOCK MARKET TIPS FREE

SGX Nifty is currently trading flat down 4 points at 10,819.

The action is expected to be stock specific as traders await the results of Karnataka assembly polls, which would be announced tomorrow.

Abbott India, Hindustan Unilever and South Indian Bank are some of the large-cap companies set to announce their Q4 results later in the day.

Global markets
Asian markets are trading with a positive bias, Nikkei is up 0.16%, Hang Seng is up 1.25%, while the Shanghai Composite is trading up 0.45 %.

US Markets: Stocks witnessed a lackluster trading session on Friday, however, managed to end the week on a positive note.

The Dow surged 0.4% to 24,831.17, the S&P 500 rose 0.2% to 2,727.72, while the Nasdaq edged down less than a tenth of a percent to 7,402.88.

Trading momentum receded after initially opening on a strong note. Traders also took note of President Donald Trump's outline to reduce high drug prices, which he has previously described as a top priority for his administration.

European markets closed mixed on Friday with FTSE closing 0.31% higher, CAC was down 0.07%, while the DAX ended 0.17% lower.

FII Data: 
In Friday’s trading session, FII’s sold 325 crores stock in the cash market whereas DII’s bought 1,163 crores worth of stock.

In the derivative market, FII’s bought 863 crores of Index futures and sold 623 crores worth of Index options.

In the stock futures segment, FII’s bought 560 crores worth of stock futures and sold 149 crores stock options.

FII View: FII trading activity in Friday’s session indicate a fresh addition of long position, which is deduced by the fact that FII’s created 16,957 long contracts in Index Futures, while they simultaneously created 13,040 long contracts in Index Call options. Their net position in May series continues to remain long, which is indicated by a long short ratio of 1.4x.

FII	OI(000's)	% Chg	% Chg Since Expiry	Long/Short Ratio	Long/Short Since Expiry
Future Index Long	120	16	65	1.4	1.2
Future Index Short	86	7	40
Option Index Call Long	222	6	27	2.6	1.1
Option Index Call Short	87	1	20
Option Index Put Long	356	(2)	29	2.3	0.8
Option Index Put Short	154	9	68

Support / Resistance: Intraday Nifty: 10806
S1 – 10720	S2-10680
R1- 10880	R2 -11000

Support / Resistance: Intraday Bank Nifty: 26413
S1 – 26200	S2-26000
R1 - 26520	R2 -26700