Post Market Report, April 28, 2016 | Stocks and Commodities

April 28, 2016
Time: 6 pm

Post Market Report:

1. In the morning while writing the blog SGX Nifty fell suddenly by 60 points.
2. I did mention that in the morning and also I was not sure why that has happened.
3. I just checked the Asian markets but there was no significant movement anywhere.
4. What has actually happened, Bank of Japan announced its policy decision.
5. There was no stimulus as expected by market men.
6. But at that point of time, Japan markets were closed for Lunch.
7. So I could not see any change.
8. When Japan markets opened after the Lunch break, Nikkei opened gap down by about 900 points.
9. That created jitters in US and European futures.
10. So our markets also fell.
11. Usually expiry will go in favour of short sellers and the same thing happened this time also.
12. But the severity of fall was not expected by anyone.
13. In fact day before yesterday morning, Nifty was around this level, in three days time, Nifty was up by more than 160 points and then fell about the same amount.
14. But the drastic fall was only an expiry jitters, markets should recover tomorrow.
15. That is evident from the fact that Nifty May future is still trading at 50 points premium.
16. Our markets saw a similar expiry in February but following that markets did very well.
17. Let us see how markets move tomorrow.