Pre Market Report, July 25, 2016 | Stocks and Commodities

July 25, 2016
Time: 8.45 am

Pre Market Report:

1. On Friday US markets closed at another record high.
2. But Asian markets are mixed.
3. SGX Nifty is trading flat at 8560 after hitting a high of 8589.
4. Last week, Bank Nifty under performed Nifty.
5. PSU Banks came under pressure.
6. Canara bank's results today will influence the PSU Banking stocks today.
7. Now Axis Bank came out with not so good results after Friday's market close.
8. Axis Bank will come under pressure and that will drag the Bank Nifty today.
9. Since Axis came out with bad results, ICICI will also come under pressure.
10. But the hope of GST will limit the downside.
11. But GST may come after this expiry.
12. Finance Minister is meeting the state FMs on Tuesday, so only after that the bill will be tabled in RS.
13. Nifty has been consolidating between 8450 and 8600 for the last many days.
14. It seems that the same will continue for another day or two.
15. But huge buying by FIIs on a continuous basis and the hope of GST may help the markets to breakout ultimately.
16. Once again the range for Nifty future today will be 8480 and 8605.