Pre Market - Snapshot - 13-08-2021


 

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 conclude and investors now have a clear picture of growth post Covid for large part of universe. Continue to use current volatility to rebalance portfolios with stocks that have clear growth path.

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