Pre Market Report, May 10, 2017 | Stocks and Commodities

May 10, 2017
Time: 8.40 am

Pre Market Report:

1. US markets ended mixed.
2. Asian markets are almost flat.
3. Trump fired FBI director creating shock in political circles in US.
4. So US futures are down.
5. Yesterday SGX Nifty traded higher than Monday's cloe here.
6. Today also SGX Nifty traded higher than yesterday's close here.
7. But after this Trump news, SGX Nifty is trading just about 10 points higher.
8. After a long time, FIIs turned net buyers in Cash market for about 300 crores.
9. But the DII buying was absent.
10. In addition, FIIs were huge sellers in F&O.
11. For the last 10 trading sessions, Nifty future has been closing between 9300 and 9400.
12. Markets all over the world are consolidating for a long time with very low VIX.
13. Markets are surely going to breakout or breakdown, which one is going to happen is a billion dollar question.
14. ABB came with good results and all capital goods stocks were higher yesterday.
15. Banks, particularly PSU Banks dragged the markets yesterday.
16. Relianace, after falling more than Rs 150 from the recent top, stabilising.
17. ITC also stabilising, IT is recovering from the lows.
18. Once again Nifty future may trde between 9300 and 9400.
19. If FII turning net buyers triggers some short covering, then we can hope Nifty future to cross 9400.
20. It may happen today or markets may wait for another one or two days to see whether FIIs continue to buy or this is an abberration.