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

October 3, 2018
Time: 8.25 am

Pre Market Report:

1. Yesterday our markets were closed.
2. But many things have happened.
3. First, Crude shot up beyond US$85.
4. That is a bad news for us.
5. Dollar index also strengthened.
6. US signed deal with Canada.
7. Hong Kong market fell the most in last one month yesterday.
8. Indonesian Rupiah crossed 15000 per dollar, nearly 30 year low.
9. Emerging market index fell 1.3% yesterday.
10. Iran sanction looming and that is affecting Crude prices.
11. But one good thing is that we have not been following Global cues for the past one month.
12. This correction seems to be worst after 2008.
13. Small cap index has fallen 20% and midcap index has fallen 14% in September.
14. Large cap also fell by 9%.
15. Advance-Decline ratio is worst after 2008 crash.
16. The crash in our markets triggered by NBFC liquidity.
17. Now Govt. is all out to solve the problem.
18. Kotak Bank fell 15% intraday on Monday due to fear by RBI penalisation but Govt. announced Uday Kotak as IL&Fs Chairman.
19. One this is sure, Volatility is not going to subside anytime soon.
20. It may last until the end of this expiry.
21. On Monday last few hours it was short covering.
22. As long as Monday's low is not broken, we can have some hope.
23. Nifty future should take support at 10980. But it tested 10950 in Singapore yesterday.
24. Resistance will be at 11080.