Pre Market Report, August 2, 2018 | Stocks and Commodities

August 2, 2018
Time: 8.30 am

Pre Market Report:

1. US China trade tariff is becoming focus again.
2. Yesterday Dow and S&P fell.
3. But Nasdaq was up because of Apple which shot up by 5%.
4. If Apple shoots up another 5%, then it will become first Trillion dollar company.
5. Asian markets are mostly down.
6. Hang Seng is down by 450 points.
7. This US China trade war is not going to end any time soon.
8. That will be the single most important factor that threaten the Global stock rally.
9. Crude is down below US$73 and that is good for Auto and OMC stocks.
10. Maruti auto sales data was not good.
11. But other auto companies declared decent numbers.
12. ONGC and IB Housing will declare results today.
13. Bank Nifty fell about 280 points in the last 15 minutes yesterday.
14.  Bank Nifty has under performed Nifty yesterday.
15. Today Bank Nifty is likely to be volatile due to expiry.
16. Corporate results are generally good.
17. Index heavy weights like ITC and Reliance are doing well.
18. So markets may consolidate for few more days before deciding the direction.
19. Nifty future may trade between 12320 and 11420.