Pre Market Report, January 23, 2014 | Stocks and Commodities

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January 23, 2014
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed again, Dow fell and Nasdaq rose.
2. Most Asian markets are down.
3. Chinese HSBC Manufacturing PMI came below 50 which means that economy is contracting.
4. This below 50 PMI came after a very long time.
5. This shows that any recovery for emerging markets is going to be very slow and painful not very fast and swift.
6. SGX Nifty is trading about 15 points lower.
7. Today L&T will react to the Q3 results.
8. There are no other market moving news today.
9. Nifty future is likely to take support at 6320 and will face resistance at 6380.