Post Market Report, February 1, 2016 | Stocks and Commodities

February 1, 2016
Time: 8 pm

Post Market Report:

1. On Friday US markets shot up and the cheer was felt in Asia in the morning.
2. As usual, China spoiled the party.
3. Manufacturing PMI from China came lower and China fell.
4. It dragged Hong Kong markets also today.
5. Ahead of RBI policy banking stocks came under pressure.
6. RBI is not expected to change any rates.
7. But people are afraid RBI will take more steps to stem the NPA which will add pressure to the banking stocks.
8. On Friday when our markets did extremely well, all sectors were up, but PSU Banks fell by more than 2%.
9. Today PSU Banks fell more than 3%.
10. PSU Banks are being downgraded by foreign brokerages after falling so much.
11. Four out of bottom 5 stocks are from banking sector today.
12. Maruti was the fifth one which fell due to poor sales figures.
13. Europe opened down in the afternoon and that dampened the sentiment.
14. US future were also lower by about 100 points.
15. Crude oil has fallen by more than 3%.
16. January series started well on the first day and fell for the remaining part.
17. February also started the same way. We have to see how markets move in the near future.
18. No budget speculation so far in the markets.
19. So for the time being the range for the Nifty seems to be 7200 to 7800.