Pre Market Report, January 12, 2014 | Stocks and Commodities

January 12, 2014
Time: 8.30 am

Pre Market Report:

1. SGX Nifty has been trading volatile.
2. SGX Nifty low was 8257 and high was 8301.
3. Now it is trading at 8298.
4. Asian markets are trading mixed.
5. Last Thursday when US markets shot up, on Friday Asian markets did not take it seriously and did not rise.
6. Same way, now Asian markets are not reacting to US fall on Friday.
7. Dollar index is inching downwards and that is good for other currencies.
8. Indian Rupee likely to break 62 in today's trade or tomorrow.
9. But Brent Crude is trading close to $49 and threatens to break down any time.
10. That may not be good for world markets and hence for our markets.
11. Today there may not be big action.
12. Action will begin from tomorrow as IIP, Inflation data, banking, IT and Reliance esults will dominate the markets.
13. Today, I expect some kind of short covering in Bank Nifty towards the end of the day ahead of IIP and Inflation data, if Europe trades firm in the afternoon and Crude oil does not break $49.
14. Nifty future is expected to trade between 8260 and 8360.