Pre Market - Snapshot - 19-07-2021



US stocks fell on Friday pushing the Dow into the red for the week as inflation fears overshadowed strong retail sales numbers and better-than-expected earnings reports.Dow fell 0.86, Nasdaq by 0.80% and S&P by 0.75%. Small cap Russell 2000 fell the most with cuts of almost 1.25%. 


US dollar index rose to 92.66, 10 year fell to 1.27%, Cboe Vix moved higher near 18.45. 


Crude futures continued to move southwards on OPEC plus agreement on production cuts. WTI fell near 71, Brent below 73. 



Indian equity indices, Sensex and Nifty ended flat on Friday lead by IT and banking stocks on weak global cues. Broader markets continued to outperform the benchmarks as the midcap and smallcap indices moved higher. Among sectors, Pharma, Metal, Realty and FMCG indices ended in the green.


For the week watch for global market cues that seem to indicate some give backs at the start. Watch for Indian stocks' ability to show some resilience post initial weakness. Nifty's ability to defend 15700-15750 zone on intraweek basis, 15900 on weekly closing basis for the near term uptrend to hold.

 

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