Pre Market Report, August 1, 2016 | Stocks and Commodities

August 1, 2016
Time: 9 am

Pre Market Report:

1. Asian markets are all up.
2. SGX Nifty is trading about 30 points higher.
3. On Friday US GDP came much lower than expected.
4. So the probability of US rate hike keeps going down.
5. Now there is only 30% of probability that US will hike rates in December FOMC meeting.
6. As expected, petrol and diesel prices were cut.
7. So Auto stock will be in focus today.
8. Also monthly Auto sales data will influence the auto stocks today.
9. Market set up is too bullish.
10. Highest open interest among Calls is at 9000.
11. Nifty future trades at a premium of 50 points to spot which I have not seen for the last many years.
12. Manufacturing PMI data will be out today around 10.30 am.
13. Markets will react to ICICI and L&T results today.
14. This week there are not many key corporate results due.
15. Tech Mahindra, Tata Power, Indian Bank are some of the companies set to declare results this week.
16. This week is all about GST.
17. Nifty future may take support at Friday's low and resistance will be at 7760.