Pre Market Report, May 17, 2017 | Stocks and Commodities

May 17, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed mixed with Dow down and S&P 500 and Nasdaq up.
2. Asian markets are mostly flat with negative bias.
3. SGX Nifty is almost flat.
4. FIIs once again bought aggressively in Cash market.
5. DIIs have sold for about Rs 400 crores while FIIs have bought for about Rs 800 crores.
6. FIIs in F&O also are on the buy side in stock futures but sold slightly in Index futures,
7. Yesterday I mentioned that this week belongs to PSU Banks.
8. Yesterday PNB came with good results.
9. SBI hit 52 week high as expectation is good for SBI which will declare results on Friday.
10. Bank of Baroda will declare results tomorrow.
11. Donald Trump asked then-FBI Director James Comey to end a probe into Trump's former national security advisor.
12. This news is giving jitters to world markets and that is the reason why most Asian markets are trading with negative bias.
13. US futures are also down sharply, Dow futures down by more than 100 points.
14. But we are likely to escape this negativity.
15. IMD said monsoon is likely to hit Kerala on 30th May, one day in advance and the moon is likely to be good at 100% of the long term average.
16. We need to see how Tata Steel reacts to its results, I am not an expert in disecting the results, overall it seems to be good.
17. Today JSW Steel is declaring results, so metal stocks will be in focus.
18. Maruti hit another all time high as Petrol and Diesel prices were cut.
19. FMCG stocks will be in focus as Hind unilever declares results today.
20. Yesterday Reliance saw some activity, Reliance has fallen more than Rs 100 from its recent high.
21. So any short covering in Reliance will help the Nifty to keep upside momentum.
22. Markets may consolidate for a day or two and Bank Nifty will be in focus ahead of boB and SBI results.
23. Nifty future may trade between 9480 and 9580.