Pre Market - Snapshot - 23-06-2021



US stocks edged higher building up on the gains of Monday. Nasdsq closed at record levels gaining near 0.80%, Dow gained near 0.20%, S&P added 0.5% to previous its close. The small cap Russell 2000 added 0.43% to Monday's close. Names like Microsoft (hitting 2tn$ milestone) and GameStop
gained after Fed Chair reiterated in testimony to Congress on Tuesday that the current rise in inflation is transitory. Other tech names like Facebook, Twitter, and Netflix also saw strong gains.

US dollar index declined further near 91.75, Cboe Vix moved below 17, 10 year also moved down to 1.47%.

Crude futures traded steady, WTI near 73, Brent below 75.

Indian stocks closed in the green after a choppy session erasing most of the intraday gains ahead of the June expiry. Autos and Power stocks lead the gains offset by weakness in FMCG majors and some of banking heavyweights. IT and Metal names also saw some modest gains. Optimism on re-opening and Covid-19 numbers met with profit booking near Nifty levels near 15900. 

For the next two days watch for some volatility on June series expiry. Focus on intraday givebacks and rotational trade to trade for next two days as the same may provide market-beating returns. For medium-term any weakness of 3%-5% be used to build up positions for next move higher.


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