Pre Market Report, December 31, 2014 | Stocks and Commodities

December 31, 2014
Time: 8.15 am

Pre Market Report:

1. US markets closed slightly lower.
2. Most Asian markets are closed for trading.
3. China PMI data came at 49.6, slightly better than expected figure of 49.5.
4. But still it is below 50, which shows that the economy is still in contraction mode, not expansion.
5. Auto companies will under perform as excise duty cut is not extended.
6. But the fall will be limited as Petrol and Diesel prices are likely to be cut tonight and monthly sales data for December will be out tomorrow.
7. SGX Nifty is trading around 8330 which is slightly higher than yesterday's close.
8. This is because of two things, one Bank Nifty shot up by more than 150 points in the final hours of yesterday's trade and both FIIs and DIIs have bought in cash market.
9. Crude oil continued to trade lower and that is a good news for India.
10. India will be closing today as second best performing markets in the world, first being China.
11. Nifty future is likely to trade between 8280 and 8360 today.