PRE MARKET REPORT, MAY 05, 2022

  • US Markets ended sharply higher after the Federal Reserve delivered a widely expected interest-rate hike
  • Asian markets trading higher
  • SGX Nifty indicating gap-up of 150 points
  • FIIs net sold worth Rs 3,288.18 crore while DIIs net bought worth Rs 1,338 crore
  • FIIs have gone all in on short side ahead of expiry
  • Index futures: FIIs unwind 1500 longs, add 36,000 shorts
  • Stock futures: FIIs net add 14,000 shorts
  • If Nifty breaches yesterdays low further downside will open up
  • If Nifty trades above 17,010-50 can result in some swift short covering
  • Weekly expiry today and expect markets to be volatile