Pre Market Report, May 6, 2015 | Stocks and Commodities

May 6, 2015
Time: 8.15 am

Pre Market Report:

1. US markets fell sharply.
2. Spike in Crude oil, Greece issue surfacing and the consequent fall in Europe, China markets correction sharply all contributed to US fall.
3. China and Hong Kong are stabilising after sharp correction in the last two days.
4. Most other Asian markets are down marginally.
5. SGX Nifty is trading about 40 points lower.
6. Banking stocks are under performing except private sector mid cap banking stocks.
7. FIIs have resumed their selling just after one day of pause.
8. Bombay High Court issued stay order to income tax against their MAT notice to Aberdeen Emerging Markets Fund.
9. This is a good news and markets may take a note of this.
10. If this news is taken positively, our markets will recover after a gap down open due to global cues.
11. Monday it was Oil sector, yesterday it was metals. Today we have to see which sector will do well.
12. Nifty future should take support at 8280-8290 level.
13. Resistance will continue to be at 8400.