Pre Market- Snapshot - 25-06-2021



US markets closed higher on hopes of 1.2t$ infra deal to conclude soon. Dow gained almost 0.95%, Nasdaq added 0.69% and S&P closed 0.58% higher. The small cap Russell 2000 outperformed with gains of 1.31%. Both Nasdaq and S&P closed at fresh record highs. 


US dollar index traded flat near 91.85, Cboe Vix closed just below 16, 10 year traded near 1.5%. 


Crude futures traded higher ahead of OPEC meet on 1st July. WTI moved above 73, Brent above 75. 


Indian stocks moved higher on quadruple witching day. Nifty closed 0.66% and Sensex closed 0.75% higher. IT stocks were the main contributors to the gains. It was a dull day for broader markets despite of solid gains on the indices. 


For the day watch for more rotation in stocks as more sectors start participating. Once again focus on intraday give backs to load on positions for the next day and chasing strength may not be very rewarding for immediate term.

Comments

Post a Comment

Popular posts from this blog

Pokarna Ltd- Deams Become Visions. Visions become Aspirations. And Aspirations make us Achieve.

Image
-They have a 40 % plus EBITDA margin quartz business have the exclusive right to Bretonstone plant in India coming up with a new plant with 500 cr plus Capex - will increase their quartz capacity by 130 %  -Management is confident of utilizing the new plant as well the quartz industry is growing by more than 30 % in the USA.  -Company has 99 % of its revenues from here its product is at a premium to the Chinese players- doesn't compete with them -Due to the new plant company has borrowed more than 400 cr on the balance sheet this number will only go down from here as the CAPEX has been put in place. this high Capex machine and the exclusivity of Breton stone technology shows the entry barrier of the business -The company can easily generate 25 cr cash flows from the existing quartz plant every quarter. with the new plant, we can expect an additional 30- 35 cr cash flow at peak utilization. we will be looking at around 250 cr cash flows from its quartz business every year. -Eve...
Read more

Vehicle Scrappage Policy

Image
Talks of vehicle scrappage policy being introduced come to the surface every few months, but unfortunately, each time policy itself doesn't come to the surface. Nitin Gadkari, Minister for Highway and Transport, has stated that it can be expected to roll out within a month. He termed the policy "very important", let's find out why? With time, things get older and outdated. The same is for cars and technology used in cars, to reduce pollution and fuel consumption. If you live in Bangalore, you must have seen the old cars and buses emitting dirty black smoke. It is because the vehicle is too old. It causes more pollution and consumes more fuel. Now imagine having such trucks, buses, cars, and 2-wheelers on road, all over India. The country has to pay for more fuel plus damage to the environment.  Scrappage policy fixes the maximum number of years, say 20 years, a vehicle can be driven on the road from the date of registration or sets a cut-off on the basis of emission s...
Read more

Pre Market - Snapshot - 02/06/2021

Image
US markets end mixed on Tuesday; optimism on improving economic data was offset by fears of higher inflation. Dow closed marginally above the flat line, S&P closed just below the flat line, Nasdaq lost some points below the flat line. The small-cap Russell 2000 outperformed the markets with gains over 1%.  US dollar index traded marginally higher at 89.9, Cboe Vix inched up to close near 18. 10 years traded flat above 1.61%  Crude futures moved higher, WTI nearing 68, Brent nearing 71, taking the prices to 3-month highs for Brent, and multiyear highs for WTI. OPEC+ demand forecast and moving slow on tapering-off of production cuts had its set-off against possible supply increase from  Iran if the sanctions are lifted. Indian stocks took a breather in / near lifetime high zone. Nifty registered a new intraday high before settling just below the flat line at the close. Sensex inched closer to life highs on an intraday basis before closing a tad below the flat zone. For ...
Read more