SGX Nifty is indicating a positive for the Indian markets. Indian markets are expected to trade range bound, as traders await fresh triggers. In stock specific news, I-T dept attaches Gitanjali Gems's SEZ property in Hyderabad worth Rs1,200 cr in PNB fraud case. Fortis Bank is set to acquire 26% stake in Equirus Capital .

Global markets: Asian markets are trading in the green at present. Nikkei is currently up 0.29%, Hang Seng is trading 1.05% higher, while Shanghai Composite is up 0.25%.

US Markets: Wall Street ended on a mixed note in yesterday’s session. The Dow climbed 0.7% to 24,962.48, S&P 500 inched up 0.1% to end at 2,703.96, while the tech-heavy Nasdaq edged modestly lower, closing at 7,210 down 0.1%. On the US economic front, a report released by the Labor Department showed a modest decline in first- time claims for US unemployment benefits in the week ended February 17th, which surprised most economists who had exacted it to remain unchanged.

FII Data: In yesterday’s session FII’s sold 2,335 crores stock in the cash market, whereas DII’s bought 1,059 crores worth of stock. In the derivative market, FII’s sold 1,746 crores of Index futures and bought 2,084 crores worth of Index options. In the Stock futures segment, FII’s bought 1,687 crores worth of stock futures and bought 280 crores stock options.

FII View: FII trading activity in yesterday’s session suggests that they have reduced their bearish position, which is deduced from the fact that that they closed out 97805 Index Futures short contracts, reduced 125859 short contracts in Index Call options and reduced 197886 long contracts in Index Put options.

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