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

June 16, 2015
Time: 8.20 am

Pre Market Report:

1. US markets closed lower due to Greece jitters.
2. But US markets recovered half of the losses in the second part of the trading session.
3. Asian markets are down.
4. Particularly China markets are down.
5. Chinese markets falling is actually good for India as most of the hot money shifted to China.
6. SGX Nifty is marginally down.
7. SGX Nifty is trading at 7990 which is not bad compared to other Asian markets.
8. FIIs continue to sell in cash markets.
9. Yesterday also they have sold for about 600 crores in cash market.
10. But DIIs have bought for equivalent amount.
11. Advance tax figures start coming in and they point to better days ahead for many companies.
12. Monsoon is advancing and it may be better than the prediction of low rainfall.
13. IIP, Inflation data, better monsoon may support the markets.
14. Greece issue and FII selling may cap the upside.
15. So markets will be range bound with high volatility.
16. Nifty future is expected to trade in the yesterday's range of 7944 to 8065. 
17. Banks may under perform as better IIP data will reduce the chances of another rate cut in the near future.