Pre Market - Snapshot - 21-09-2021


 

Worries about spreading troubles from China’s property markets snapped an extended streak of calm in stock indices and sent the S&P 500 to its worst day since May.Dow fell 1.78%,  S&P dropped 1.70%, Nasdaq  fell 2.19%. The S&P 500 and Nasdaq are on track for their worst months since last September, while Dow is headed toward its biggest monthly decline since October 2020. The small cap Russell 2000 lost 2.44%.


Cboe Vix once again moved sharply higher near 26, $ index traded steady near 93.22, 10 year fell near 1.31% on risk-off trade. 


Crude futures also saw some profit taking on risk-off trade, WTI fell below 71, Brent near 74.


As indicated Nifty retreated from resistance zone of 17700-18000 on global equity worries and profit taking. Metal and Banking names took indices down. Sensex fell almost 0.89% and Nifty lost close to 1.07%. Mid and Small cap stocks lost close to 2% each. 


For the day watch for some more give backs in individual names ahead of crucial Fed meet and also for some turnaround signals for quick intraday trading in oversold names. Traders may rebuild positions and investors may rebalance portfolios by end of the month for a probable October -January upcycle.

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