Pre Market Report, September 21, 2016 | Stocks and Commodities

September 21, 2016
Time: 8.30 am

Pre Market Report:

1. I start writing this blog now at 8.15 am and usually take 15 minutes to complete.
2. But anytime, Bank of Japan announcement can come and markets may move accordingly.
3. Today it is all about BoJ.
4. Yesterday I did mention 'Calm before storm', yesterday Nifty traded within a very small range of 34 points.
5. US arkets also closed almost flat after a volatile session ahead of BoJ and Fed policy.
6. Most analysts say that BoJ policy decision is more important than Fed policy decision.
7. 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.
8. But Japan has the history of uncertain outcomes.
9. In my opinion, if BoJ comesout with Dovish policy, markets will shoot up and then tomorrow markets will fall after Fed policy.
10. Yesterday FIIs have sold for Rs 1146 crores and DIIs have bought for Rs 777 crores.
11. But we need to ignore these abnormal figures as these figure are due to Castrol selling shares worth Rs 1900 crores.
12. SGX Nifty is trading around 8805, almost flat after opening lower.
13. But all these are not relevant once Bank of Japan announces its policy.
14. We also need to watch the subscription figures of ICICI Pru. public issue.
15. As of yesterday only about 50% subscribed.
16. It is not going to see huge subscriptions but retail people are showing interest.
17. ICICI Bank share price will move according to ICICI Pru. subscription figures.
18. Reliance INfra, Jubiliant Food will be in focus due the corporate news.
19. Pharma stocks are showing some momentum.
20. Volatility may subside once markets stabilises after BoJ news.
21. It is difficult to predict a range for Nifty future ahead of BoJ.