Pre Market - Snapshot - 26-07-2021


 

Wall street stocks rallied on Friday to record levels, the Dow Jones Industrial Average topped 35000 closing milestone for the first time, S&P reclaimed 4400 gaining almost 1%, Nasdaq also closed 1% higher. The small cap Russell 2000 underperformed the markets with gains of close to 0.46%. 


US dollar index and 10 year traded flat near 92.88 and 1.28% respectively. Cboe Vix closed just above 17. 


Crude futures continued to gain ground, Brent moved above 74, WTI above 72. 



Indian stocks moved marginally higher on Friday extending the recovery that started post sell-off of Monday / Tuesday. Indices however failed to move above the trading range of last few weeks. The recovery was mainly dominated by FMCG, IT, Metal and BFSI names. 


For the week watch for July expiry related volatility that may dominate stock specific moves. For near term buying near lower end of the trading range of 15500-15900 and booking near top end remains a popular trade till the range breakout materializes. Focusing on individual names instead of benchmarks seems to be more rewarding in sideways markets.


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