Pre Market Report, May 29, 2018 | Stocks and Commodities

May 29, 2018
Time: 8.40 am

Pre Market Report:

1. US markets closed yesterday.
2. So people are looking other global cues.
3. Italy news is the drag today in global markets.
4. MSCI Asia Pacific ex Japan is down by 0.3%.
5. Usually SGX Nifty follows that index.
6. So SGX Nifty is also down by about 0.3%.
7. Last set of corporate results are pouring in.
8. Most of the results were good and led a short covering in those stocks.
9. L&T came with good results.
10. Nifty is up almost 300 points in the last three days.
11. So markets may need some consolidation.
12. M&M and Coal India are two key large companies set to declare results today.
13. Both Nifty future and Bank Nifty trading at discount.
14. So if there is any small short covering, futures will move even more.
15. Just three days ahead of Bank Nifty expiry, Bank Nifty futures are trading almost 100 points discount.
16. Crude oil hovering around US$75 is a good news for us.
17. Oil Marketing Companies have shot up already yesterday.
18. Today BPCL will also declare results.
19. So OMCs will continue to be in focus.
20. Nifty future may trade between 10620 and 10720.