Pre Market - Snapshot - 12-10-2021

 


US Stocks ended lower on Monday as investors focused on signs of inflation and supply challenges and awaited corporate earnings. Dow lost 0.72% , S&P lost 0.69%, Nasdaq gave back 0.64%, Small cap Russell 2000 also saw a cuts of 0.56%.


On data side USD index moved to 94.36, 10 year crossed 1.63% and Cboe Vix moved higher to 20. 


Crude futures continued to climb higher, WTI moved near 80.50, Brent near 84. 


Indian stock indices closed at their highest levels in a choppy market that saw last hour selling erasing large part of intraday gains. Nifty topped 18000 before closing a shed below the same. Sensex underperformed due to weakness in IT names. Autos under the star performer Tata Motors lead the rally along with Power (mainly Tata Power). Banks were the leading sector of the day. Our preference on Tata Motors and Tata power for October rewarded medium term traders well (almost 50% gains in a few weeks from recent lows). Small and Mid cap stocks also outperformed the main indices. 


For the day watch for some choppiness in main names along with pockets of outperformance outside popular names. Continue to use dips in names where multi-year breakouts are seen and watch for progress in Q2 earnings season for fresh moves.

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