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

December 1, 2016
Time: 8.40 am

Pre Market Report:

1. US markets closed mixed after rising for many days.
2. Asian markets are higher.
3. SGX Nifty is trading marginally higher, but lower than yesterday's high.
4. GDP data came at 7.3% against an expectation of 7.5%.
5. But core sector growth was much higher.
6. Again all these are lag indicators.
7. Markets will worry about lead indicators.
8. Crude prices are up and that is not good for India.
9. But sentiment will improve in world markets.
10. Yesterday Bank Nifty was up significantly mainly due to rise in ICICI Bank ADR and HDFC Bank ADR the day before.
11. That sentiment in banking stocks likely to continue.
12. I remember going short in Nifty at 8325 and Bank Nifty at 19800 few days before, but now Nifty is just 50 points down but bank nifty is still more than 1000 points down.
13. If markets recover, Bank Nifty is likely to out perform.
14. RBI is likely to announce MSS bonds and that will be good for banks.
15. Monthly Auto sales and Cement sales data will be in focus today.
16. Maruti shot up about Rs 500 in the last few trading sessions.
17. Hero moto corp also the same.
18. Nifty future may trade between 8200 and 8300.