September 21, 2016
Time: 8.30 am
Pre Market Report:
Time: 8.30 am
Pre Market Report:
- I start writing this blog now at 8.15 am and usually take 15 minutes to complete.
- But anytime, Bank of Japan announcement can come and markets may move accordingly.
- Today it is all about BoJ.
- Yesterday I did mention 'Calm before storm', yesterday Nifty traded within a very small range of 34 points.
- US arkets also closed almost flat after a volatile session ahead of BoJ and Fed policy.
- Most analysts say that BoJ policy decision is more important than Fed policy decision.
- Fed decision is more or less known, Fed is expected to keep the rates unchanged but will give hawkish comments to indicate the December hike.
- But Japan has the history of uncertain outcomes.
- In my opinion, if BoJ comesout with Dovish policy, markets will shoot up and then tomorrow markets will fall after Fed policy.
- Yesterday FIIs have sold for Rs 1146 crores and DIIs have bought for Rs 777 crores.
- But we need to ignore these abnormal figures as these figure are due to Castrol selling shares worth Rs 1900 crores.
- SGX Nifty is trading around 8805, almost flat after opening lower.
- But all these are not relevant once Bank of Japan announces its policy.
- We also need to watch the subscription figures of ICICI Pru. public issue.
- As of yesterday only about 50% subscribed.
- It is not going to see huge subscriptions but retail people are showing interest.
- ICICI Bank share price will move according to ICICI Pru. subscription figures.
- Reliance INfra, Jubiliant Food will be in focus due the corporate news.
- Pharma stocks are showing some momentum.
- Volatility may subside once markets stabilises after BoJ news.
- It is difficult to predict a range for Nifty future ahead of BoJ.
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