Pre Market Report, July 3, 2015 | Stocks and Commodities

July 3, 2015
Time: 8.40 am

Pre Market Report:

1. US markets closed in Red after mixed economic data.
2. Number of jobs created data was revised down for the last two months in US.
3. Now the interest rate hike may not happen this year.
4. Bond markets indicate rate hike only in 2016.
5. Asian markets are marginally down, but China is down by more than 6%.
6. Yesterday our markets traded as expected in the range 8420 to 8500.
7. We are getting conflicting reports about monsoon, IMD saying lower rains and Skymet saying normal rainfall.
8. Yesterday FIIs have bought for Rs 575 crores in cash market, so downside may be limited.
9. Today also markets are likely to be range bound but volatile.
10. Traders will like to square off their trades ahead of Greece referendum on Sunday.
11. So there may be some sharp move on either side towards the end of the day.
12. There are no major stock specific news.
13. Yesterday, for most part of the day, Bank Nifty future was trading about 40 to 50 points discount to underlying, but towards the end of the day, there was no discount.
14. But Nifty future continued to trade at discount.
15. SGX Nifty is trading at 8410 about 30 points lower than yesterday's close here.
16. Nifty is likely to trade between 8380 and 8480.