Pre Market Report, May 14, 2018 | Stocks and Commodities

 May 14, 2018
8.55 am

Pre Market Report:

1. US markets closed higher on Friday.
2. Most of the Asian markets are also higher today.
3. European and US futures are also higher.
4. Karnataka Exit poll results are as expected, confusing.
5. Some claim Congress as single largest party and some claim BJP.
6. But most polls say BJP will be the single largest party.
7. So the stock market action will be reserved for tomorrow.
8. Today we can expect range bound market with positive bias.
9. Auto stocks may recover a bit as Crude prices are down slightly.
10. PSU Banks may also be in focus as some smaller banks are coming out with results.
11. It was surprising markets closed at the highest point of the series on Friday ahead of the Exit polls.
12. Still markets believe that the election results will be a non event except for a small knee jerk reaction.
13. The most important thing is the onset of monsoon.
14. Skymet announce that monsoon will hit Kerala on May 28, two days ahead of the shedule.
15. Global cues continue to be good.
16. Pharma sector may continue to under perform due to Trump announcement.
17. Markets knew this and that is why Pharma stocks are all trading closer to 52 week low.
18. Mid caps and small caps are also doing very badly.
19. This time, only Nifty and Bank Nifty are higher due to few stocks.
20. It is not a broad based rally.
21. So it will be interesting to see the last one hour trade.
22. Nifty future may trade between 10720 and 10840.