Pre Market Snapshot - 16-06-2021


 

US stocks slipped from their record highs ahead of key policy Fed meeting. Investors were also focusing on PPI for the month of May that rose to the highest levels nearly in a decade.

Dow fell almost 0.27%, S&P lost 0.20%, Nasdaq slipped the most with 0.71% cuts. The small cap Russell 2000 closed down by 0.26%.


US dollar index traded steady near 90.53, 10 years also traded flat just below 1.5%, Cboe Vix closed above 17.  


Crude futures traded higher, WTI above 72, Brent above 74. 


Indian stocks moved higher to close into fresh record levels taking a cue from US and some of the Asian markets that were trading at ATH.  The banking, Reality and Oil and Gas sectors took the markets to new records. The small and mid cap stocks were also in demand on hopes of easing restrictions. 


Markets may consolidate for a day ahead of key Fed meet outcome before deciding on the future course of action. Meanwhile stock specific action may continue to dominate the trade and tomorrow's weekly options expiry may also lead to some volatility in individual names. Continue to maintain rotational trades for some more time before the consolidation gets over and a clearer trend unfolds.

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