Pre Market - Snapshot - 20-09-2021

 



US stocks continued to decline on Friday on fears of economic uncertainty and on September inpact that has seen flat to negative trade for the month historically. Dow saw a cut of 0.48%, both S&P and Nasdaq saw cuts of close to 0.91%. The small cap Russell 2000 bucked the trend to close above the flat line. 

US dollar index, Vix and 10 year rose ahead of Fed meet this week, dollar index closed above 93.25, 10 year closed above 1.36% and Vix closed just below 21 on risk-off trade. 

Crude futures traded mixed, WTI fell below 72, Brent traded flat near 75.50.

Indian stocks saw some profit taking post record run of last few trading sessions. PSU banks, Metals, heavyweights like RIL, HUL were on the receiving end offset by gains in names like Kotak bank, Hdfc bank , Bharti, Bajaj finserve kind of names. Mid and Small cap stocks underperformed with cuts in excess of 1%.

For the week watch for some more give backs ahead of crucial Fed meet. As indicated earlier rebuild positions post Fed event and rebalance portfolios by end of the month for October to January outperformance.

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