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PRE MARKET REPORT, NOV 29, 2021

  • US Markets closed lower on Friday suffering biggest one-day percentage drops in near months
  • Asian markets trading lower
  • SGX Nifty indicating a positive opening with 90 points gain
  • FIIs net sold shares worth Rs 5,785.83 crore while DIIs net bought shares worth Rs 2,294.11 crore
  • Risk-reward may turn in favour of bulls at some point today
  • 2 important levels to watch: Friday low and SGX Nifty low
  • Friday low was 16,985 on spot and SGX low 16,835 on futures
  • RBI allows promoter stake in pvt banks at 26% in long term
  • Kotak in focus: Promoter stake currently at 26%
  • Crude down good for paint companies and result in some outperformance Stocks like Asian Paints, Berger, Pidilite will be in focus