Daily Report · August 10, 2020

Pre Market Report 10 Aug

[responsivevoice_button voice=”Hindi Female” buttontext=”Listen to Post”]

  • US markets closed almost flat on Friday.
  • Asian markets have opened mixed.
  • SGX nifty is slightly up 30 points.
  • This week is goint o start off with the Supreme court AGR case hearing.
  • So Idea, Indusind bank , Airtel will be in focus.
  • Idea, Indusind both shot up on friday, so expectations are on the positive side.
  • US President Trump signed 4 executive orders related to coronavirus economic relief, unemployment benefits, eviction ptotection , payroll tax deferral and student loan relief.
  • This may help US markets for a new leg up rally, but futures are alomost flat.
  • Indian Defense Minister also announced restrictions on import on Defenece equipments in push to boost domestic defense industry.
  • HAL, BEL, Ashok leyland , L&T, BDL are the stock to look for.
  • The theme for the coming years is going tobe deglobalisation now. Every country wants to self sustain and be less reliant on China.
  • Cipla, Divis announced great results. So pharma will also be in focus.
  • Bank of Baroda, Titan, PowerGrid will declare results today.
  • Markets are expected to move sideways ahead of AGR case anyways, so expecting action after the case hearinf result.
  • FII were net buyers for Rs.397 crores and DII have sold for Rs. 439 crores.
  • Bank Nifty if moves above 22000 will invite new longs and short covering. It may push Bank nifty towards 23k.
  • Nifty may trade between 11200-11350.