Pre Market Report, March 27, 2017 | Stocks and Commodities

March 27, 2017
Time: 8.35 am

Pre Market Report:

1. US markets closed lower on Friday.
2. The news broke out just before closing bell in US that health care bill did not go through.
3. This is a big negative for Trump.
4. Though US markets have not reacted very negatively on Friday, it is likely to react negatively today.
5. Today, in the Pre Market, Dow futures fell more than 100 with huge volume.
6. So Asian markets are mostly lower but recovering from morning losses as China and Hong Kong are trading firm.
7. Even SGX Nifty recovered about 40-50 points from morning low.
8. Now SGX Nifty is trading slightly lower around 9100.
9. This is very good considering the Reliance issue.
10. The focus will be on Reliance today due to penalty issue though this is not the final, Reliace will appeal.
11. SBI will be in focus as SBI will offload 10% of the SBI Life shares.
12. On Friday, both FIIs and DIIs were the net buyers in Cash market.
13. However FIIs were net sellers in both Index Futures and Stock Futures.
14. Markets are likelt to be volatile due to expiry related issues.
15. Still I believe that expiry will be between 9000 and 9200.
16. But we need to see the effect of Reliance issue and US markets reation tonight for health care bill.
17. Today Nifty future may trade between 9050 and 9140.