Pre Market Report, March 3, 2014 | Stocks and Commodities

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March 3, 2014
Time: 8.15 am

Pre Market Report:

1. Ukraine problem was ignored by the markets until last Friday.
2. Now the markets all over the world are worried about this problem.
3. US has warned Russia and threatned with sanctions against Russia.
4. Also Asia was worried about China HSBC Manufacturing PMI coming at below 50 for the third time in a row.
5. A figure below 50 indicates contraction in economy, above 50 means expansion in economy.
6. Actually it came at 48.5, but at the same time China Government released Services PMI data which was at 3 months high.
7. So the impact was not much and China market is up while all other Asian markets are down.
8. SGX Nifty is marginally down by about 20 points.
9. Ukraine problem's impact will be known here only tomorrow as Asia will wait for Europe and America to react first.
10. Nifty future will find support at 6240 and resistance at 6320.