In today’s briefing:
- SENSEX Index Rebalance Preview: Wipro Deletion to Bring Sector Balance into Play
- EQD / NSE Volatility Update / 01-Apr-24 to 05-Apr-24
SENSEX Index Rebalance Preview: Wipro Deletion to Bring Sector Balance into Play
- Nearly 90% of the way through the review period of the June rebalance, we see one potential index change with Wipro Ltd (WPRO IN) in deletion zone.
- Oil & Natural Gas Corp (ONGC IN), Coal India Ltd (COAL IN) and Adani Enterprises (ADE IN) are potential replacements with sector balance likely to come into play.
- Passive trackers will need to trade over 13 days of delivery volume on the potential index changes.
EQD / NSE Volatility Update / 01-Apr-24 to 05-Apr-24
- Equities shrug off hawkish RBI rhetoric – eye on $3 Billion inflows from MSCI rejig & June Elections results
- Short dated IVs trade lower. Quarterly-expiry IVs continue to hold at >13.0% levels as they capture multiple event risks
- Short vega positions recommended as “High & Down” vol state persists. Use current scenario to buy tail hedges as protection for long Equity positions.
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