Pre Market - Snapshot - 27-09-2021


 

After moving sharply higher for two straight days, US stocks showed a lack of direction over the course of the trading session on Friday. The major averages spent the day bouncing back and forth across the unchanged line. Dow gained 0.10%, S&P added 0.15%, Nasdaq closed just below the flat line. The small cap Russell 2000 saw cuts of close to 0.49%.


US dollar index inched up higher to trade near 93.30, Cboe Vix declined to close below 18. US 10 year traded higher above 1.46%.


Crude futures continued to move higher near 2018 highs on stockpiles fall from US and China and rising demand. WTI moved near 75, Brent near 79. 


Indian markets moved higher into fresh record zones, Sensex topped 60k for the first time in history and Nifty almost scaled to 18k on and intraday basis. Mid and small cap index however failed to carry the optimism and closed marginally in red. 


For the week watch out for September series expiry related volatilty and some rotational trade within heavyweights to take Nifty near 18k zone. For mid and small caps this may be the final opportunity before the catch up with heavyweights starts. Continue to move into sectors/stocks that are into/nearing fresh breakouts for near term outperformance and avoid chasing popular names at higher levels.

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