Pre Market Report, April 24, 2020 | Stocks and Commodities

April 24, 2020
Time: 8 am

Pre Market Report:

1. US markets were trading firmly in Green in the first half.
2. Then the news came, which was accidentally released by WHO, that Gilead drug is not working satisfactorily.
3. Remember few days before, world markets shot up as Gilead claimed that its drug Remdesivir is working well for corona infection.
4. Asian markets are mostly down.
5. SGX Nifty hit 9380 yesterday night, after this news came down.
6. Not is trading below 9200.
7. Every time Nifty crosses 9300, some bad news comes and markets fall.
8. In fact, Nifty has been hugely volatile between 8800 and 9350.
9. Yesterday Reliance took some rest while IT and Banking stock lifted Nifty.
10. Franklin winding up some debt scheme is a very bad news.
11. That nay have some impact in stock market.
12. Remember first problem started in 2018 when Blackrock sold DHFL bonds.
13. Only good news today is PM is meeting Finance officials for discussing Economic Package.
14. So as usual markets will be volatile, if there is any news flow.
15. FIIs have sold for just Rs 114 crores in Cash market.
16. DIIs have bought for Rs 338 crores in Cash market.
17. We are entering into last week of April expiry.
18. Nifty 9000PE has the highest Open Interest.
19. So once again people expect Nifty to trade between 9000 and 9500.
20. Nifty may trade between 9100 and 9350.