Sarthakreturns

  Wall Street closed marginally lower on Tuesday as slower than anticipated growth in US and China weighed on the sentiments.Dow closed down by 0.11%, S&P closed 0.13% down, Nasdaq closed just below the flat line. The small cap Russell 2000 saw a marginal outperformance with gains of close to 0.34%.  US dollar index traded near flat zone at 92.62, 10 year moved higher on month end consideration at 1.31%, Cboe vix moved marginally higher near 16.48. Crude futures traded flat ahead of OPEC+ meet on output plans, WTI traded near 68, Brent below 73.    Indian indices traded at record levels as Sensex topped 57500 and Nifty crossed 17000 for the first time in history. It was all round performance from index stocks that took benchmarks higher in excess of 1.15%. Though the markets exhibited fresh expansion the gains were limited to index heavyweights and some popular names, broader markets showed some mixed performance with the advance - decline ratio turning marginall...

  US stocks ended mixed on Monday, Dow closed marginally in red with cuts of 0.16% but both S&P and Nasdaq closed at fresh record highs with gains of 0.43% and 0.90% respectively. The small cap Russell 2000 ended the day with a cut of 0.11%.  US dollar index traded steady near 92.71, 10 year declined further below 1.29%, Cboe Vix closed near 16.19.  Crude futures traded steady, WTI above 69, Brent above 73. The benchmark equity indices on the BSE and NSE surged over 1.35%  to trade at fresh record highs amidst positive cues in the global markets. BFSI, Metal and Pharma names led the bulk of gains while IT stocks underperformed post strong run in the previous week. Mid and small cap stocks also gained between 1.5% to 1.9%.  For the day watch for consolidation in indices post a strong Monday. Focus on individual names that may start to outperform the indices from hereon. Do not chase the gap ups wait for intraday give backs to trade the stocks during the day. ...

  Stocks moved sharply higher on Friday heading for a winning week as Federal Reserve Chairman Jerome Powell prepared the markets for some gradual pullback, saying it's likely to start tapering its $120 billion in monthly bond purchases this year. The Dow Jones Industrial Average was up 0.69%, S&P 500 rose 0.88% to hit a new high, Nasdaq  added 1.20%, also hitting a new record during the session. The small cap Russell 2000 gained the most adding almost 2.85%. US dollar index and 10 year fell sharply post Fed testimony, dollar index closed well below 93 at 92.68, 10 year declined below 1.31%, Cboe Vix also fell 13% to 16.39.  Crude futures traded strong, Brent above 73.50, WTI above 69.  Indian stocks traded strong ahead of Fed testimony with most sectors contributing to gains. Sensex was 0.31% up and Nifty closed 0.41% higher. Broader markets outperformed as the BSE Midcap index closed with a gain of 1.04 % while the smallcap index rose 0.93%. For the week watch ...

 US stocks fell from record highs ahead of  Jackson Hole annual symposium and some worries on developments in Afghanistan that added to risk-off sentiment. Dow fell 0.54%, S&P lost 0.58%, Nasdaq gave back 0.64%. The small cap Russell 2000 saw bigger cuts, in excess of 1%. The risk-off trade took US dollar index higher above 93, 10 year traded on wait and watch mode near 1.34%, Cboe Vix moved higher near 18.84.  Crude futures traded flat ahead of crucial Fed meet, WTI traded just below 68, Brent near 71.50 Indian indices ended flat on August series expiry day. Metals, Autos and Pharma sectors were on the receiving end but Fmcg, Oil and Gas, Cap goods stocks held their ground on Thursday.  Small and Mid cap stocks had a mixed day as some of the stocks rallied strong in an otherwise dull market.  The global risk-off sentiment may have its impact at the open but stocks may see some stabilization towards the end of trade as participants would wait for the Fed out...

  US stocks moved higher on Wednesday led by banks and re-opening stocks.The Dow closed just above flat line at  0.11%, S&P added 0.22% to new closing highs topping 4500 intraday. The Nasdaq also closed just above flat line gaining 0.15% to new closing highs. The small cap Russell 2000 also added 0.37%.  US dollar traded steady near 92.82, 10 year moved higher at 1.34% ahead of Fed symposium. Cboe Vix closed below 17.  Crude futures continued to stay strong, WTI moved near 68, Brent near 72.  Indian stocks turned volatile near fresh record highs. Indices closed flat after hitting fresh records as heavyweight sectors like banks, autos, pharma sold-off. Oil & Gas and power sector held ground in a lackluster market. Mid and small cap stocks showed some resilience to move higher.  For the day watch for August series expiry related volatility and some consolidation before the crucial Fed meet. Individual names may continue to top the charts till Nifty ta...

  US stocks extended gains on Tuesday as reopening trade started gaining momentum on vaccine news.Both S&P and Nasdaq (closed above 15000 for the first time) closed at fresh record highs adding 0.15% and 0.52% respectively. The Dow closed just above the flat line. The small cap Russell 2000 once again outperformed the pack with gains in excess of 1%.  US dollar index traded down near 92.88, Cboe Vix rose marginally near 17.22, 10 year rose sharply near 1.30%.  Crude futures continued its strong run for second day running, WTI moved above 67, Brent above 71. Markets started to price in supply disruption of almost 25% of Mexican output due to fire.  Indian stocks rallied strong on global risk-on trade that was visible in dollar index, crude and equities. Banks, Metals and Financial names lead the gains alongwith broader markets that started to see some stabilization post brutal sell-off in the last few days. Some of the popular names in mid and small caps saw sharp...

  US stocks moved higher on Monday following a very volatile week.Dow gained 0.60%, S&P added 0.80% just below record highs, Nasdaq gained 1.50% to a new record close. The small cap Russell 2000 once again outperformed with gains of 1.88%.  US dollar index declined sharply below 93 on some risk-on trade ahead of Jackson hole symposium. 10 year traded flat just below 1.26%, Cboe Vix declined to 17.15.  The risk-on trade and weak dollar helped crude futures gain sharply, WTI moved near 66, Brent near 69.  Indian indices moved marginally higher, Sensex added 0.41% and Nifty gained 0.28% lead by IT names but Metals, Autos and Banks were on the receiving end. Mid and small cap stocks continued to remain under pressure as investors took shelter under large and defensive names.  For the day watch for some stabilization in broader markets on risk-on trade and government push on asset monetization of over 6 lakh crores to push privatization and infrastructure spend. ...

  US stock indexes closed higher on Friday but still ended with losses for the week on fears of rising Covid Delta variant cases, the imminent tapering of Federal Reserve and China’s restrictions on its economy.Dow gained 0.65%, Nasdaq lead the pack with gains of 1.19%, S&P added 0.81% to Thursday's close. The small cap Russell 2000 outperformed with gains of near 1.65%.  US dollar index traded flat just below 93.50, 10 year traded near 1.26%,  Cboe Vix declined near 18.56.  Crude futures continued to trade lower, Brent below 65.50, WTI near 62.  Indian stocks continued to decline on Friday lead by Banking and Metal names. Global equity market sentiment, fears of Fed taper and rising global Covid cases lead to further sell-off in Indian markets. Sensex saw a cut of 0.54% and Nifty closed 0.71% lower.  For the week watch for August series expiry related moves and Jackson Hole symposium outcome for near term direction on markets. Also watch for some attra...

  On Thursday US stocks traded mixed to steady following steep losses from the previous day driven by jitters over a potential shift in monetary policy that might remove some of the stimulus underpinning equity markets. Dow continued to trade down with a cut of 0.19% but both Nasdaq and S&P closed in green with gains of 0.11% and 0.13% respectively. The small cap Russell 2000 extended its underperformance with cuts of 1.22%.  US dollar index moved to 2021 highs on Fed minutes outcome that indicated at an early taper. The benchmark moved near 93.58. Cboe Vix also moved higher near 22. US 10 year declined marginally near 1.24%.  Crude futures saw a sharp sell-off over two days on dollar strength and slowing growth to 3 month lows. Brent fell near 66.50 and WTI near 64.  Indian stocks fell on Wednesday pre-empting Thursday's global fall. Banks and metal stocks were amongst the prime losers that took indices down by 0.28%. Cement and NBFC stocks gained in an otherwis...

  US stocks fell on Tuesday, major indices pulling back from record highs amidst mixed set of earnings and disappointing retail sales.Dow lost 0.79%, S&P gave back 0.71% and Nasdaq saw a cut of 0.93%. The small cap Russell 2000 continued to underperform with a cut of 1.19%. US dollar index moved sharply higher near 93.13, 10 year traded flat just below 1.27%, Cboe Vix moved higher near 17.90.  Crude futures traded flat with small downward bias on dollar strength and demand weakness due to Covid resurgence. WTI traded near 66.60, Brent near 69.   Gains in IT stocks in the last hour trade took Indian benchmarks to register yet another record high close. Sensex gained 0.38% and Nifty added 0.31% to overnight close. IT and FMCG stocks did the heavy lifting whereas Metal and PSU names dragged the index lower. Mid and Small cap stocks continued to underperform the market on profit booking.  For the day watch for weekly options expiry related volatility in individu...

  US markets recovered all the opening losses to close at yet another record highs. Stocks opened lower on jitters over pace of economic recovery and disappointing data from China but recovered towards the end of session. Dow closed with gains of 0.31%, S&P gained 0.26%, both Nasdaq and Russell 2000 underperformed with cuts of 0.20% and 0.89% respectively.  US dollar index and 10 year traded flat near 92.60 and 1.26% respectively. Cboe Vix moved higher above 16.  Crude futures also traded flat post last week's sell-off, Brent below 70, WTI below 68.  Indian indices closed at fresh record highs with Sensex and Nifty adding 0.26% and 0.21% to their overnight trade. Metal sector contributed to the bulk of the gains on indices and most of the other sectors saw mixed performance from stocks. Mid and small cap indices once again underperformed with adverse advance-decline ratio. For the day watch for continuation of sector rotation and near term outperformance from ind...

  US stocks inched up further as economic data provided insight on the pace of recovery. Both Dow and S&P saw yet another record highs gaining 0.04% and 0.30% respectively. Nasdaq also added 0.35% to overnight close. The small cap Russell 2000 underperformed with a cut of nearly 0.28%. US dollar index traded flat near 93, 10 year also remained in narrow range with mild positive bias near 1.36%, Cboe Vix declined to 15.59.  Crude futures traded flat, WTI below 69, Brent above 71. Indian benchmarks on Thursday moved higher lead by Banks, IT and Metal names. Sensex added 0.58% and Nifty 0.50% with broader market also witnessing significant gains from intraday sell-off between Tuesday and Wednesday. Pharma sector heavyweights continued to see downward pressure on earnings disappointment and muted guidance.   For the day watch for continuation of consolidation for benchmarks and pockets of outperformance in select individual names. The Q1 results season is about to co...

 US stocks extended gains into fresh record levels as markets shrugged off inflation concerns and passage of infra bill in senate may help boost the equities due to better economic environment. Materials, Industrials and other economic activity related stocks helped Dow and S&P take out new records with gains of 0.62% and 0.25% respectively. Nasdaq closed marginally in red with a cut of 0.16%, the small cap Russell 2000 closed just above the flat line.  US dollar index retreated from 93.10 levels to close near 92.89, 10 year traded mildly soft near 1.34%, Cboe Vix declined to 16.  Crude futures continued to move higher, Brent near 71.50, WTI above 69.  Indian stocks ends the day flat amidst very high volatility outside benchmarks. Metal stocks gained but Pharma underperformed during the trade. It was a dramatic turn of events in mid and small cap stocks that saw stocks a move from lower limits to upper limits. Bombay Stock Exchange's circular to curb price volati...

 US stocks rose on Tuesday pushing Dow and S&P to record levels after senate passed the crucial $1tn infra bill that may help boost economic growth. Dow gained almost 0.46% powered by infra names like Caterpillar. S&P closed higher by 0.10%, Nasdaq on the  other hand closed almost 0.49% below the flat line. The small cap Russell 2000 also added 0.20% to previous day's close.  US dollar index moved marginally higher near 93.07. 10 year moved higher near 1.36%, its best move in few sessions since February. Cboe Vix traded flat near 16.79.  Crude futures also traded higher on risk-on trade, WTI moved above 68, Brent above 70.50.  Indian indices moved marginally higher as Sensex closed with gains of 0.28% and Nifty by 0.13%. IT sector was the sole winner in an otherwise difficult market which saw most of the other sectoral indices underperforming. Beyond the main stream there was lots of choppiness with downside bias as small and mid cap stocks saw continuat...

  US stocks traded mixed with some softer bias as concerns over global growth due to resurgence of Covid dominated participants mind. Dow fell almost 0.30%, S&P fell close to 0.10% but Nasdaq went up close to 0.16%. The small cap Russell 2000 lost close to 0.58%.  US dollar moved higher to trade just below 93 (cmp 92.98), 10 year also continued to recover near 1.32%, Cboe Vix closed higher near 16.72.  Crude futures continued to see further weakness to multi-month lows, WTI closed near 67 from an intra+day low near 65, Brent also recovered above 69 after hitting intra-day low near 66.50. Indices regained some of Friday's losses in a lackluster market. PSU banks and Metal stocks were showing weakness but benchmarks got support from Private banks and IT stocks. Mid and small cap index lost between 0.60% to 1.00%. Broader markets, in the last few sessions, are witnessing a mini sell-off due to the froth that got built up over last few months.  For the rest of the we...

  US stocks moved higher as investors digested strong earnings season and new data on labour market recovery.S&P closed at record levels as economy facing stocks like financials, energy, travel and leisure contributed with bulk of gains. Dow and Nasdaq gained almost 0.78% a piece, S&P added 0.60%, small cap Russell 2000 gained the most adding 1.81% to overnight close.  US dollar index traded  flat near 92.27, 10 year also moved up to 1.22%, Cboe Vix moved lower near 17.  Crude futures traded higher on some risk-on trade, WTI moved near 69, Brent near 71.  Indian markets continued to trade higher on rotational trades, indices closed the day with gains of around 0.23%. Gains in IT and Metal sector got partly offset by losses in banking names. Oil & gas sector, autos and telecom sector also saw some gains. Mid and small cap stocks saw some stabilization post two days of profit taking.  For the day watch for volatility in rate sensitives ahead of RB...

 US stocks slumped after mixed set of economic data that showed country added fewer jobs than anticipated and Fed Vice Chair suggested that rate could rise by 2023. The strong corporate earnings report got overshadowed by the mixed showing by economy. Dow fell almost 0.92%, S&P lost nearly 0.46%, Nasdaq closed just above the flat line. The small cap Russell 2000 lost close to 1.25%. US dollar index moved higher to 92.25, US 10 year moved higher near 1.20%, Cboe Vix traded flat with small downside bias below 18.  Crude futures continued to decline Brent fell near 70, WTI traded near 68.  Indian indices continued to move higher into fresh record territory lead by strong gains in BFSI stocks. Sensex closed with gains in excess of 1%, Nifty added 0.79%. Wednesday's market move was a small deviation from recent past where broader market moved along with main indices. The current move was restricted to single sector and most of the other constituents were on the sidelines. ...

  US stocks advanced on Tuesday for the first time in three sessions taking S&P to record highs. The better than expected corporate earnings season outweighed the delta virus surge and corresponding fears of a dent in economic recovery. Dow added 0.80%, S&P added 0.82%, Nasdaq added 0.55%. The small cap Russell 2000 underperformed with gains of 0.36%.  US dollar index traded steady near 92.04, 10 year also traded in a narrow range post Monday's sell-off. Cboe Vix declined to 18.  Crude futures continued to trade down on fears of delta virus surge. WTI declined to trade just above 70, Brent below 73.  Indices ended multi-month consolidation to break above the narrow range. Nifty topped 16000 for the first time ever with strong gains from stocks across the sectors. It was all round buying be it IT, Autos, FMCG and Banks. Mid cap stocks also closed at record levels but the gains were slightly muted as compared to large caps.  For the day watch for some cons...

  US stocks gave up early gains and turned negative on Monday as concerns about rising cases due to Covid variants and fears of economic growth peaking out offset strong earnings results. Dow closed 0.28% down, S&P lost 0.18%,, Nasdaq closed just above the flat line. The small cap Russell 2000 lost almost 0.48%. US dollar index traded steady near 92.07 mark, 10 year fell sharply to 1.17% near July lows on small dip in ISM data. Cboe Vix moved higher above 19.  Crude prices fell sharply on fears of Chinese slowdown, WTI fell near 71, Brent near 73.  Indian stocks made a strong beginning for August with index gaining close to 0.70% lead by Autos, IT, Oil & Gas and Realty names. On broader markets, small and mid cap stocks rallied to record highs. It was a strong start to a fresh week but Nifty still failed to go past multiple tops near 15900-15950. For the week continue to focus on names outside the index and on rotational trade till the indices take out multiple to...

  US stock indices closed lower on Friday posting a weekly loss. Renewed concerns about rise of COVID-19 cases and disappointing results from Amazon  partly to be blamed for the slump. S&P 500 index posted gains for six straight months, its longest winning streak since 2018. Indices lost between 0.42% to 0.71%.  US dollar index moved higher near 92.12, 10 year traded near 1.240%, Cboe Vix closed above 18. Crude futures traded steady, WTI below 74, Brent below 76.  The domestic markets ended last week with moderate losses. The Indian indices closed lower on Friday. Sensex closed  0.13% lower while Nifty was down 0.10%. Most sectors saw minor profit taking with an exception of pharma that saw gains post strong numbers from Sun Pharma which gained double digits post results.  For the week watch for RBI MPC meet, Q1 results season progress and developments on Covid front. Continue to trade with smaller bias on rotational basis till the Nifty range breakout ...