Pre Market Report, April 29, 2015 | Stocks and Commodities

April 29, 2015
Time: 8.15 am

Pre Market Report:

1. US markets closed mixed with DOW and S&P up and Nasdaq down.
2. Most Asian markets are marginally down.
3. SGX Nifty is trading flat at 8272.
4. Yesterday markets went up in the last hour of trade, particularly Bank Nifty which was up by about 500 points from intraday low.
5. ICICI Bank was the star performer, up by about 8%. Maruti hit all time high, shot up by about 300 points in two trading sessions.
6. Though markets went up, FMCG and IT stocks fell.
7. HDFC and Federal Bank will declare results today.
8. Yesterday also FIIs have sold for Rs 1533 crores which is a very high figure.
9. This kind of seeling was absorbed yesterday and still markets went up. That is a good sign.
10. But this kind of high sell figures will invite fresh shorts also making markets highly volatile.
11. So it will be interesting to see today's market move.
12. Markets will move higher once FIIs stop selling, due to further short covering.
13. For today, markets are likely to be highly volatile.