Pre Market Report, May 22, 2017 | Stocks and Commodities

May 22, 2017
Time: 8.40 am

Pre Market Report:

1. I could not write "Pre Market Report" on Friday as I was travelling to Munnar, Kerala for Summer Holiday Trip.
2. US markets closed higher for scond straight day on Friday.
3. Asian markets are following the US markets.
4. SGX Nifty is up by about 30 points.
5. On Friday Nifty closed about one point lower but Nifty future closed about 16 points higher.
6. So today Nifty future trading higher by 30 points in SIngapore is significant as the premium is likely to come down.
7. So Nifty may open about 40 to 50 points higher today.
8. Same thing goes to Bank Nifty, Bank Nifty future premium expanded on Friday though markets were weak.
9. SBI results changed the sentiment in Bank Nifty.
10. Though FIIs have sold for Rs 988 crores in Cash market, they have bought for more than Rs 1000 crore in Index futures and Stock futures.
11. There are no big results today.
12. Bank of India will declare results today which will affect PSU Banks.
13. Markets are likely to be volatile due to expiry related issues.
14. Midcaps came under selling pressure on Friday.
15. If markets recover, then the midcaps may do well.
16. Nifty future may trade between 9420 and 9520.