Pre Market Report, September 26,2106 | Stocks and Commodities

September 26,2106
Time: 8.30 am

Pre Market Report:

1. US markets closed lower on Friday.
2. So Asian markets are mostly down.
3. The main reason for fall is Crude price fall of 4%.
4. But Crude prices are stabilising now.
5. But for India the fall in Crude is actually good news but on day to day basis markets will react to global cues.
6. On Friday Axis Bank fell by 6% and Axis Bank fell 10% from Thursday's intraday high.
7. Earlier Yes Bank fell like this.
8. So due to these developments Banking index is under performing which is a leading sector.
9. IT socks are already bearish with Infosys down by more than 20% from its 52 week high few months before.
10. Govt. is holding about 12% stake in Axis Bank through SUUTI (Special Undertaking of erstwhile UTI), which, according to a news report, Govt. is planning to sell.
11. That was the reason for such a drastic fall in Axis Bank.
12. FIIs are turning as net sellers in Cash market and they have sold for Rs 299 crores on Friday.
13. But drastic fall in some scripts like Yes Bank, Axis Bank, Infosys make DIIs to be active in Cash market.
14. DIIs have bought for Rs 496 crores.
15. In index and Stock futures, FIIs are almost neutral.
16. They are selling options to make some profits due to time value.
17. Markets are likely to be volatile ahead of expiry.
18. Both Nifty future and Bank Nifty future premiums have come down.
19. New issue GNA axle will be listed today and is likely to do very well due to huge subscription levels.
20. US presidential election debate today evening will be an important factor for tomorrow's trade.