PRE MARKET REPORT, SEP 30, 2021

US markets DOW closed higher and Nasdaq closed lower
Asian markets trading mixed
SGX nifty indicating a negative opening with 45 point cut
Dollar Index breaches the uncomfortable mark of 94
Emerging markets starting to show signs of risk off
Bears could not break Tuesday low 17,576
FIIs in a selling mode have sold more than 4000 cr in last two days however DIIs have bought over 3000 cr
It looks FIIs are selling index heavy weights like HDFC HDFC Bank ICICI Bank and DIIs buying PSU stocks
Tuesday lows now hold key for both Nifty and Bank Nifty
Monthly expiry today, trade could be volatile
IT weakness need to be closely tracked to see if its a short term profit booking or indication of any significant correction
Metals are stabilizing and Australian markets are more than 1% higher. Metal stock cues can be taken from Australian markets
Looking at OI Nifty might trade between 17,600-800
Nifty PCR 0.88 and Bank Nifty PCR 0.91

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