-Pre Market - Snapshot - 15-07-2021


 

US markets ended mixed on Wednesday's session. Dow and S&P 500 moved a bit higher with S&P hitting new intra day record, Nasdsq closed marginally in the red. The small cap Russell 2000 continued to see profit taking and lost close to 1.60%. 

US Fed indicated that they will continue the bond buying plan and would wait before easing out on the same. 


Both US dollar index and 10 year eased on Fed news, dollar index fell to 92.41, 10 year near 1.36%. Cboe Vix also closed lower near 16.30.


Crude futures corrected sharply on lower US demand and possibility of progress in Saudi and UAE for a compromised output increase. WTI fell below 73, Brent near 74. 


Indian stocks moved higher on Wednesday lead by gains in IT and Pharma names. There was also some buying in mid and small cap stocks. Banks, autos and realty stocks were on the receiving end in an otherwise strong market. 


For the day watch for weekly options expiry related moves and progress of Nifty near double top of 15915. Stocks may continue to witness rotational moves and previous days  winners / losers  may not see follow-up the next day as new trend may emerge everyday. Continue to back conviction by waiting out and not to rush and chase stocks on rally.


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