Pre Market Report, September 19, 2016 | Stocks and Commodities

September 19, 2016
Time: 8.30 am

Pre Market Report:

1. US markets closed lower on Friday.
2. But that was due to 'Quadraple witching Day' when all four (Index future, Index option, Stock future and stock options) expire on the same day.
3. This happens 4 times in a year.
4. So we can ignore that fall.
5. Asian markets are mostly in Green.
6. SGX Nifty is almost flat at 8808.
7. On Friday, Bank Nifty was up by about 400 points in the morning and then fell almost 400 points in the afternoon.
8. The morning rise was due to short covering.
9. The afternoon fall was due to Duetsche Bank facing US$14 billion fine by US Govt.
10. But at the end of the day, FIIs were net buyers for Rs 660 croes which is a significant amount.
11. DIIs however sold for Rs 213 crores.
12. FIIs did not sell much in F&O also.
13. So by looking at the trade setup, our markets are likely to move higher with volatility due to Fed meeting and BoJ meeting.
14. GNA Axle public issue was oversubscribed by more than 50 times and HINI category was subscribed by more than 200 times.
15. Markets will keenly watch ICICI Pru. public issue subscription.
16. This is the biggest issue in the last many years after Coal India issue.
17. If the subscription figures are good, then ICICI Bnk will move higher and hence the Bank Nifty.
18. Govt. of Singapore has invested in ICICI Pru. issue through both Temasek holding and GIC (Government of Singapore Investment Corporation). That is a very good news for ICICI.
19. But Fed meeting and BoJ meeting will bring volatility to the markets.
20. There are some stock specific news like Infosys is likely to cut the guidance for the next quarter, Arundhdhi Bhattacharya is likely to get extension as SBI Chairman etc.
21. Nifty future is likely to trade btween 8760 and 8860.