PRE MARKET REPORT, AUG 05, 2021

  • US Markets closed mostly lower
  • Asian markets are trading mixed
  • SGX Nifty indicating a flat opening with 18 points gain
  • FIIs net bought shares worth Rs 2,828.57 crore while DIIs net sold shares worth Rs 411.36 crore
  • Nifty up 120 points; HDFC twins, ICICI, Kotak contributed 140 pts
  • Market breadth was very poor, both in Nifty and Midcaps
  • Market has seen 2 back to back strong days generally market consolidates after 2 days of strong rally
  • Weekly expiry today, Call spread seen in yesterday’s trade
  • Further rally possible if Nifty sustains above yesterday high of 16,290
  • Bank Nifty may have more catch up but today could be volatile