Pre Market Report, July 31, 2020 | Stocks and Commodities

July 31, 2020

Time: 8 am

Pre Market Report:

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2. Yesterday our markets fell drastically.
3. Expiry related issues aggravated the selling.
4. In the morning, we were positive due to positive Asian markets.
5. In the afternoon, German Economic Data came which was very bad.
6. So Europe started falling and German Index fell about 4.5% at some point.
7. Dow futures also started falling drastically.
8. Then huge selling came in HDFC Bank and ICICI Bank that dragged Bank Nifty below 22000.
9. Then the panic set in, Bank Nifty fell another 350 points.
10. August Futures were trading at a good discount.
11. Remember last expiry, June expiry day, July Nifty future was trading at 70 points discount.
12. But Nifty shot up more than 1000 points from there.
13. Dow traded more than 500 points in negative, after shocking Economic data, recovered about 60% of the losses.
14. Nasdaq has closed in Green.
15. After the markets close, Apple, Facebook, Alphabet (Google), Amazon, all came with very good results.
16. Amazon declared Amazing results, their earnings was 10 times more than street expectation.
17. Now Nasdaq future is up by about 2%.
18. SGX Nifty is up by about 60, 70 points.
19. Reliance results were not good.
20. But the stock did not rally due to results expectation.
21. Sun Pharama, SBI, IOC, Tata Motors are some of the key results today.
22. Reliance will be in Focus, Reliance GDR did not react much for its results.
23. What was so surprising? FIIs were net buyers in Cash market for Rs 207 crores.
24. DIIs were net sellers for Rs 387 Crores.
25. So the Institutional selling was so little but markets reacted so much.
26. Nifty 11100 is held on, on closing basis.
27. There must be some recovery today, last one hour is very important.
28. Nifty future may trade between 11080 and 11220.