Pre Market Report, January 1, 2015 | Stocks and Commodities

January 1, 2015
Time: 8.30 am

Pre Market Report:

1. US markets closed lower significantly and Dow closed much below 18000.
2. The fall in crude prices to the year's low after crude inventory report affected the sentiment.
3. Also Saudi Arabia's market fell by 5% after its King was hospitalised also affected the sentiment.
4. Then the usual profit booking at the end of the year also played its part.
5. Today most Asian markets are closed.
6. SGX Nifty is trading with a thin volume and has no direction.
7. On one side US markets fell and on the other side FIIs have bought for over Rs 480 crores in cash market yesterday despite holiday mood.
8. SGX Nifty has seen a volume of just 26 contracts in the last two hours as against the usual volume of 3000 to 4000 contracts.
9. So SGX Nifty which traded at 8313 as of 8.15 am, may not be a true indicator of our market's open.
10. Rupee has appreciated and trading slightly above 63.
11. But expected petrol price cut did not happen yesterday.
12. Monthly sales report of auto companies will be out today.
13. So it is going to be mixed reaction in our markets today.
14. But early indications show that markets are likely to be firm in the first two weeks of January.
15. Nifty without any other external clues, may trade within a range.
16. Nifty future is likely to trade between 8280 and 8360.