Derivatives and Quantitative Strategist

Gaudenz Schneider

Macroeconomics

<ul>
<li>
Australia: RBA rate decision on 1 April. Expect no change.
</li>
<li>
Japan: Nikkei 225 rebalancing effective 31 March at the close.</li>
<li>
US reciprocal tariffs will keep everyone on their toes on 2 April.</li>
</ul>



Australia: RBA rate decision on 1 April. Expect no change.


Japan: Nikkei 225 rebalancing effective 31 March at the close.

US reciprocal tariffs will keep everyone on their toes on 2 April.


Market Movers: Key Dates at a Glance (31 March- 6 April)

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">Nifty Bank Index</a>, <a href="https://www.smartkarma.com/entities/nifty-it-index" target="_blank" data-smartkarma-citation="entities:36059:1" rel="noopener">Nifty IT Index</a>, Nifty Midcap 150 Index, Nifty100 Low Volatility30 Index and the <a href="https://www.smartkarma.com/entities/cpse-etf" target="_blank" data-smartkarma-citation="entities:28191:1" rel="noopener">CPSE ETF</a> rebalance at the close today.</li>
<li>The round-trip trade across the indices is US$2.6bn and there are 26 stocks with over 1 day of ADV to trade from passive trackers.</li>
<li>Stocks with the largest impact are <a href="https://www.smartkarma.com/entities/britannia-industries-ltd" target="_blank" data-smartkarma-citation="entities:16495:1" rel="noopener">Britannia Industries</a>, <a href="https://www.smartkarma.com/entities/bharat-petroleum-corp-ltd" target="_blank" data-smartkarma-citation="entities:10222:1" rel="noopener">Bharat Petroleum</a>, <a href="https://www.smartkarma.com/entities/adani-total-gas-ltd" target="_blank" data-smartkarma-citation="entities:28352:1" rel="noopener">Adani Total Gas</a>, <a href="https://www.smartkarma.com/entities/indian-hotels-co-ltd" target="_blank" data-smartkarma-citation="entities:5774:1" rel="noopener">Indian Hotels</a>, <a href="https://www.smartkarma.com/entities/jio-financial-services-limited" target="_blank" data-smartkarma-citation="entities:40042:1" rel="noopener">Jio Financial</a>, <a href="https://www.smartkarma.com/entities/indian-railway-catering-and-tourism-corporation-limited" target="_blank" data-smartkarma-citation="entities:33951:1" rel="noopener">IRCTC</a>, <a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato</a>, <a href="https://www.smartkarma.com/entities/federal-bank-ltd" target="_blank" data-smartkarma-citation="entities:11784:1" rel="noopener">Federal Bank</a>, <a href="https://www.smartkarma.com/entities/union-bank-of-india" target="_blank" data-smartkarma-citation="entities:546:1" rel="noopener">Union Bank Of India</a> and <a href="https://www.smartkarma.com/entities/crompton-greaves-ltd" target="_blank" data-smartkarma-citation="entities:6248:1" rel="noopener">Crompton Greaves</a>.</li>
</ul>


The NIFTY Index, Nifty Next 50 Index, Nifty Bank Index, Nifty IT Index, Nifty Midcap 150 Index, Nifty100 Low Volatility30 Index and the CPSE ETF rebalance at the close today.
The round-trip trade across the indices is US$2.6bn and there are 26 stocks with over 1 day of ADV to trade from passive trackers.
Stocks with the largest impact are Britannia Industries, Bharat Petroleum, Adani Total Gas, Indian Hotels, Jio Financial, IRCTC, Zomato, Federal Bank, Union Bank Of India and Crompton Greaves.


NIFTY Indices: Flows (Post Capping) At the Close Today; Round-Trip US$2.6bn

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

Korea Stock Exchange KOSPI 200 / Equity Derivatives

<ul>
<li>A weekly recap of volatility and price metrics, including option volumes, volatility trends, the spot/implied relationship, and open interest statistics.</li>
<li>Kospi extended its gains after a strong start, maintaining its position as a relative outperformer.</li>
<li>We examine Kospi’s recent outperformance against comparable indices as well as SP500.</li>
</ul>


A weekly recap of volatility and price metrics, including option volumes, volatility trends, the spot/implied relationship, and open interest statistics.
Kospi extended its gains after a strong start, maintaining its position as a relative outperformer.
We examine Kospi’s recent outperformance against comparable indices as well as SP500.


Kospi Index Options Weekly (Mar 17 – 21): Extending Gains and Outperformance

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Inflation is poised to trend lower in FY26 due to improving food supply conditions, a benign global commodity environment, and supportive monsoon expectations, risks from climate and geopolitical uncertainties.</li>
<li>Looking ahead, the continued moderation in inflation, combined with the government’s commitment to fiscal consolidation, creates a favourable backdrop for further monetary easing.</li>
<li>A watchful policy stance and responsive fiscal-monetary coordination will be critical to sustaining the disinflation path.</li>
</ul>


Inflation is poised to trend lower in FY26 due to improving food supply conditions, a benign global commodity environment, and supportive monsoon expectations, risks from climate and geopolitical uncertainties.
Looking ahead, the continued moderation in inflation, combined with the government’s commitment to fiscal consolidation, creates a favourable backdrop for further monetary easing.
A watchful policy stance and responsive fiscal-monetary coordination will be critical to sustaining the disinflation path.


Charted Insights: India’s Inflation Trajectory - What Lies Ahead in FY26?

<ul>
<li>FII flows still influence market trends, even as domestic flows have gained prominence, especially during global macro uncertainty. </li>
<li>Current correction is in line with past episodes, both in terms of depth and scale of selling, suggesting we may be closer to the mature phase of the downturn.</li>
<li>We did data deep dive of FII flows how it has impacted markets in past and what it means for future.</li>
</ul>


FII flows still influence market trends, even as domestic flows have gained prominence, especially during global macro uncertainty. 
Current correction is in line with past episodes, both in terms of depth and scale of selling, suggesting we may be closer to the mature phase of the downturn.
We did data deep dive of FII flows how it has impacted markets in past and what it means for future.


Thematic Report : Decoding FII Flows; What History, Market Cycles, and Stock-Level Data Tell Us

India

The NIFTY 50 index is National Stock Exchange of India's benchmark stock market index for Indian equity market. Nifty is owned and managed by India Index Services and Products (IISL), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited.

NIFTY Index (NIFTY INDEX)

Market Movers: Key Dates at a Glance (31 March- 6 April)

RBA expected to keep rates steady, Nikkei 225 rebalancing in Japan, India shifting its option expiration day, Exchange Holidays in India and...

Gaudenz Schneider

NIFTY Indices: Flows (Post Capping) At the Close Today; Round-Trip US$2.6bn

The March rebalance of the Nifty family of indices takes place at the close today. The round-trip trade is US$2.6bn and there are 26 stocks with...

Brian Freitas

Kospi Index Options Weekly (Mar 17 – 21): Extending Gains and Outperformance

Weekly recap of Kospi's outperformance, analyzing volatility metrics, option volumes, and open interest statistics against SP500 and other indices.

John Ley

Charted Insights: India’s Inflation Trajectory - What Lies Ahead in FY26?

Inflation expected to decrease in FY26 with improved food supply and global conditions, creating room for further monetary easing and requiring...

Nimish Maheshwari

Thematic Report : Decoding FII Flows; What History, Market Cycles, and Stock-Level Data Tell Us

FII flows continue to impact market trends amid global uncertainty, with current correction resembling past downturns, signaling a potential...

Nimish Maheshwari

Market Movers: Key Dates at a Glance (31 March- 6 April)

​RBA expected to keep rates steady, Nikkei 225 rebalancing in Japan, India shifting its option expiration day, Exchange Holidays in India and...

Gaudenz Schneider

NIFTY Indices: Flows (Post Capping) At the Close Today; Round-Trip US$2.6bn

The March rebalance of the Nifty family of indices takes place at the close today. The round-trip trade is US$2.6bn and there are 26 stocks with...

Brian Freitas

Kospi Index Options Weekly (Mar 17 – 21): Extending Gains and Outperformance

​Weekly recap of Kospi's outperformance, analyzing volatility metrics, option volumes, and open interest statistics against SP500 and other indices.

John Ley

Charted Insights: India’s Inflation Trajectory - What Lies Ahead in FY26?

​Inflation expected to decrease in FY26 with improved food supply and global conditions, creating room for further monetary easing and requiring...

Nimish Maheshwari

Thematic Report : Decoding FII Flows; What History, Market Cycles, and Stock-Level Data Tell Us

​FII flows continue to impact market trends amid global uncertainty, with current correction resembling past downturns, signaling a potential...

Nimish Maheshwari

RBA expected to keep rates steady, Nikkei 225 rebalancing in Japan, India shifting its option expiration day, Exchange Holidays in India and...

Weekly recap of Kospi's outperformance, analyzing volatility metrics, option volumes, and open interest statistics against SP500 and other indices.

Inflation expected to decrease in FY26 with improved food supply and global conditions, creating room for further monetary easing and requiring...

FII flows continue to impact market trends amid global uncertainty, with current correction resembling past downturns, signaling a potential...