Pre Market Report, May 28, 2015 | Stocks and Commodities

May 28, 2015
Time: 8.40 am

Pre Market Report:

1. US markets closed positive.
2. Asian markets are firm.
3. SGX Nifty is trading around 8350.
4. Though markets recovered yesterday dramatically, Bank Nifty closed at over 200 points higher, FIIs have sold heavily in both Cash and F&O markets.
5. In Cash market, FIIs have sold for about Rs 900 crores whereas DIIs have bought for around Rs 600 crores.
6. So markets are likely to be highly volatile.
7. Volatility will be high in the afternoon.
8. There are many key results due today that include ONGC, Power Grid, BPCL, NMDC, Hindalco, Coal India, Bank of India, Aurobindo Pharma.
9. These results during the markets hours will add to the volatility.
10. Although markets will be volatile, Nifty is expected to expire between 8300 and 8400.
11. Banking stocks likely to out perform Nifty. Yes BAnk and Axis Bank showing upward momentum.
12. So range bound market in the morning and volatile but range bound market in the afternoon is the general expectation as of now.