Pre Market Report, April 1, 2021 | Stocks and Commodities

 April 1, 2021

Time: 8.50 am

Pre Market Report:

1. US markets closed mixed.
2. Asian markets are higher.
3. Economic data across Asia are positive.
4. China Manufacturing PMI data came lower than expected, but still above 50.
5. Above 50 indicates Economic expansion.
6. Now it seems that Asia is decoupling from US markets.
7. SGX Nifty is higher, indicating about 80 points gap up.
8. That is a decent gap up, considering the weakness in markets yesterday.
9. Yesterday, it was large caps that were sold into.
10. The fall came mainly by 4 stocks, HDFC Twins, Reliance and ICICI Bank.
11. Together, these 4 stocks were responsible for the entire fall.
12. So we need to see how these 4 stocks perform today.
13. There was selling across all strike prices from 14700CE, 14800CE, 14900CE, 15000CE.
14. There was some unwinding in 14800PE.
15. That means, people have sifted 14800 straddle to 14700 straddle.
16. Small savings rates were cut yesterday.
17. Today that has been reversed.
18. So no change in small saving rates.
19. That signifies that the rates are not going to fall more from here.
20. That is actually good for Banks.
21. US 10 Year Bond Yield has also come down below 1.4%.
22. That could be one reason for positivity in Asian markets.
23. Today is weekly expiry.
24. So markets can be volatile.
25. Nifty future may trade between 14780 and 14980.