Pre Market Report, May 9, 2017 | Stocks and Commodities

May 9, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed almost flat with positive bias after trading lower for most part of the day.
2. Asian markets are mostly higher marginally.
3. SGX Nifty hit a highe of 9365.50, higher than yesterday's high here.
4. That shows the underlying bullishness.
5. Yesterday also surprisingly FIIs were on the sell side in Cash market.
6. I expected them to be on the buy side as election uncertainity is over in France.
7. But they bought in stock future and sold in Index futures.
8. DIIs have bought for more than what FIIs have sold in Cash market.
9. Highest open interest continue to be at 9300 Put and 9400 Call.
10. The volatility is very low and Nifty future has been closing between 9300 and 9400 for nearly 10 trading sessions.
11. Hudco IPO got good response. 
12. S Chand IPO will be getting listed today.
13. The overall sentiment is good despite continuous selling by FIIs as the mutual funds receiving very good amount of money.
14. Reliance, ITC are dragging the markets but Banks and IT supporting the market.
15. PSU Banks are declaring better than expected results and they are supporting the Bank Nifty.
16. We can expect Nifty future to trade between 9300 and 9400 today also.
17. Telecom stocks will be in focus as Bharti Airtel declres resulst today.