Pre Market - Snapshot - 27-08-2021



 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 outcome before taking positions on either side. Continue to rebalance portfolios for next move higher once the near term uncertainty over Fed moves, Covid  resurgence and geopolitical tensions eases.

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