Pre Market - Snapshot - 11-08-2021



 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 continuation of profit booking for one more day.


For next few days focus on opportunities in mid and small cap stocks that may see further sell-off fearing some kind of regulation from exchanges. Gradually accumulate the stories where the stock is getting hammered on unfounded fears but has clear growth visibility and valuation comfort. For main line stocks, once again the rotational theory will play out for traders to outperform in near term.


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