Pre Market Report, October 19, 2018 | Stocks and Commodities

October 19, 2018
Time: 8.45 am

Pre Market Report:

1. US markets closed lower for second day wiping out almost all gains made on Tuesday.
2. Asian markets fell yesterday as China markets fell 3%.
3. It seems that margin calls triggered in China yesterday.
4. But today morning the banking and insurance regulator assured that there is no systemic problem in China.
5. Regulator said every effort will be taken for smooth functioning of banking and ensure credit to corporates.
6. That is the reason why China is not falling much.
7. Also GDP data came slightly lower than expected in China.
8. Industrial production data also slightly lower and retail sales up slightly.
9. After the US markets closed, PayPal and P&G came with good results.
10. So US futures are slightly higher.
11. US said China is not cooperating on Trade talks.
12. US also said the Saudi journalist would have been killed.
13. These two are very bad news.
14. But despite this bad news about Saudi Arabia, Crude prices are lower.
15. Yesterday night it was trading below 79 and now trading around 79.50.
16. SGX Nifty hit a low of 10220 and now trading around 10330.
17. Still it is 120 points lower than Wednesday's close.
18. SGX Nifty future was at 10720 on Wednesday morning and 10220 on Thursday night, a swing of nearly 500 points.
19. Reliance results were not impressive.
20. Reliance GDR fell 2.7% but it is an illiquid contract.
21. So we need to see how Reliance reacts to results.
22. Reliance may be highly volatile in the first 15 minutes.
23. RBI eases liquidity rules for banks to benefit NBFCs.
24. So NBFCs may stabilise.
25. Nifty future may trade between 10280 and 10480.