Pre Market Report, January 16, 2015 | Stocks and Commodities

January 16, 2015
Time: 8.30 am

Pre Market Report:

1. US markets fell for the fifth day and US futures are down by more than 0.5% and it looks it is going to be 6th straight day of losses by the end of the day.
2. Swiss doing away with Franc peg to Euro jolted the world markets.
3. Swiss stock market fell by 12% intraday and closed with a loss of more than 8%.
4. As this event confirms the ECB's QE program, European markets shot up, while most other markets fell.
5. The fall in other markets or the rise in European markets are not one way move, they were highly volatile. German markets made a swing of more than 10% yesterday.
6. Coming back to India, TCS results were in line with estimates.
7. Govt. took opportunity of RBIs rate cut to not to cut petrol and diesel prices.
8. Though this is a disappointment for Auto sector, govt. finances will improve as excise duty will be hiked once again.
9. SGX Nifty is trading at 8508, about 20 points more than our closing here.
10. Once again, positive local cues and negative global cues tug of war will continue.
11. Today afternoon trade may bring some surprises as traders will like to square off their trades ahead of weekend holidays.
12. Yesterday FIIs have bought for Rs 1738 crores and DIIs have sold for Rs 527 crores.
13. There are three important results today, Wipro, Axis Bank and Reliance.
14. Axis Bank results will be watched closely as this will be an indication of large private sector banks health. 
15. Reliance results will be out after our markets close, anyway it is trading somewhere close to 52 week low and hence downside will be limited even if the results are bad.
16. No big bang is expected from Wipro.
17. All Asian markets are down except China.
18. After crude and copper, it is the turn of Natural gas which fell by more than 8% yesterday night but recovered later.
19. SGX Nifty hit a high of 8565 yesterday night which is higher than yesterday's high here for Nifty future and that should be the resistance for today.
20. Support should be at 8460.