Pre Market Report, August 10, 2015 | Stocks and Commodities

August 10, 2015
Time: 8.45 am

Pre Market Report:

1. US markets closed slightly lower after a good jobs data that rises the expectation of rate hike in September.
2. Now there is a 52% chances of rising rates in September against 47% chances last month.
3. It is interesting to note that Dow fell for 7 days in a row, last time that happened only in 2011.
4. But Asian markets reaction is muted.
5. That is because most Asian markets are already trading at one and half years low.
6. So markets all over the world are pricing in US rate hike and slow China growth.
7. China markets are bucking the trend and up by about 2%.
8. SGX Nifty is trading around 8580, just about 20 points lower.
9. Tata Motors came out with bad results, yet ADR closed positive. So there may not be a significant reaction in this counter. May be some knee jerk reaction at opening.
10. Now the key US jobs data is over, option premiums are likely to fall, both Call and Put premiums.
11. Oil stocks will be in focus after a very good results from MRPL. Even on Friday this sector did very well when overall markets were down.
12. Nifty future is likely to trade between 8540 and 8640.