Pre Market Report, December 17, 2014 | Stocks and Commodities

December 17, 2014
Time: 8.30 am

Pre Market Report:

1. US markets closed lower after a huge volatile session.
2. But Asian markets are stabilising after yesterday's rout.
3. Our trade data declared after our markets closed on Monday was not good.
4. Then came Russia raising interest rate from 10.5% to 17% over night.
5. Then it was Russia which dominated world markets.
6. Russia's currency fell 30% intraday in yesterday's trade against US dollar.
7. Russia's stock markets fell 20% in two days.
8. Saudi Arabia, Dubai and Abu Dhabi markets fell 8% due to free fall of oil,
9. Yesterday night SGX Nifty recorded a low of 8037.
10. Though most of the sectors were down even before yesterday, Banking sector was holding the markets until Monday.
11. Yesterday Bank Nifty fell 569 points and SBI and ICICI fell more than 4%.
12. So as of now all sectors look bearish.
13. So any bounce back intraday will be used as selling opportunity.
14. SGX Nifty is trading around 8100 which is about 18 points lower.
15. Yesterday FIIs have sold for Rs 1450 crores which is highest in the recent months.
16. So any recovery will be short lived as FIIs will continue to sell.
17. Our markets have corrected more than 6% and Indian Rupee has depreciated more than 5% and hence FIIs have lost more than 10% in the last few weeks.
18. So weaker hands would have been out by this time.
19. But markets will move on everyday news flow.
20. So we have to see how Russian financial markets open and trade today.
21. If that stabilises, markets may stabilise here also.
22. Nifty future is likely to trade between 8040 and 8180 today a wide range.
23. Volatile situation like this will make markets swing widely, since markets have fallen so much, if somebody put a buy order, then short covering will set in and markets will move widely.
24. Let us hope markets stabilise around this level.
25. Most people feel that we are at the last stage of the market fall.

Note: Mr Pranjali Upadhay, please do not comment in this blog, by commenting on this blog you are doing more bad things to your company than good things. The standard of your comments is so low, people will think very bad about your company. I do not think you will get any clients through this blog, even I am not getting any clients through this blog. So please do not waste your time by giving unnecessary comments.