Pre Market Report, April 3, 2018 | Stocks and Commodities

April 3, 2018
Time: 8.55 am

Pre Market Report:

1. Dow fell 750 points and then recovered 300 points due to trade war fear.
2. Nasdaq fell even more drastically due to Amazon.
3. But Asian markets are not reacting that badly.
4. Asian markets are down but not out.
5. SGX Nifty hit a low of 10175 yesterday night, still higher than yesterday's low.
6. Now it is trading around 10210 which is higher than yesterday's ATP.
7. There are some good news for PSU Banks in terms of Bonds.
8. Yesterday Bank Nifty under performed due to ICICI Bank and Axis Bank.
9. PSU Bank also fell as the fall in ICICI and Axis was due to scam.
10. That may change today as most of these bad news have already been factored in.
11. Yesterday ICICI Bank saw about Rs 2000 crores of selling in Cash market.
12. As long as last Wednesday's low is not broken, we can expect the markets to be volatile within a range.
13. We also have lot of data and events in the next few days.
14. RBI policy, PMI data, Inflation and IIP data from India and Employment data from US and Trump's announcement of Chinese goods that will attract additional tariff.
15. So markets are going to be volatile for the next four days and will settle only next week.
16. Then corporate results expectation will drive both Indian and US markets.
17. Infosys starts the results season on 13th April.
18. Nifty future is likely to trade between 10180 and 10280.