Pre Market - Snapshot - 08-10-2021

 


US stocks rallied on Thursday as lawmakers reached a deal to increase the debt ceiling in the short-term.

The Dow rose by 0.98%%, S&P 500 rallied 0.83%, Nasdaq jumped nearly 1.05%. The small cap Russell 2000 outperformed with gains of close to 1.59%. Thursday's gains put the major averages in the green for the week.

US dollar index eased a bit to trade near 94.18, Cboe Vix moved lower near 19.54, 10 year moved sharply higher near 1.58%. 

Crude futures recouped most of the losses of Wednesday, WTI moved above 78.50, Brent moved close to  82.50.

Indian stocks forged strongly higher on optimism of smart economic recovery, re-open trades like Tata Motors, Titan, Oberoi, Sobha and M&M to name a few along with technology heavyweights did heavy lifting on Thursday. Mid and small cap stocks also saw solid gains.

For the day watch for some volatility on RBI policy announcement. Continue to keep some deeper stop loss as Nifty moves towards psychological level of 18000. For mid-term traders continue to book profits on higher levels to re-enter on intra-period give backs.

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