Category: Market Outlook
27 August 2024
Wall Street ended mixed on Monday, Dow gained 0.16% to fresh life time highs but Nasdaq slipped 0.85% led by Nvidia ahead of its quarterly results due on Wednesday, S&P too lost some ground to close 0.32% lower. The small cap Russell 2000 closed just below the flat line.
USD index traded a bit higher near 100.89, 10 year also moved a few notches higher at 3.81% and cboe vix closed at 16.15.
Crude futures jumped 3.00% after Libya reported a production halt and Israel Hezbollah conflict escalated, WTI jumped near 77.50 Brent near 81.50.
Indian markets traded higher taking cues from FED comments at Jackson hole on Friday, Sensex added 612 points, Nifty gained 187 points to reclaim 25000. IT, Realty and Metal stocks did much of the heavy lifting on Monday. With yesterday's rally both Sensex and Nifty came within striking distance of life time highs.
*Global markets cues, crude price rally and some geopolitical uncertainty may lead to some consolidation in markets before indices break out into fresh life highs. Participants may continue to focus on individual names that may show fresh breakout despite some consolidation in indices, rotate positions and keep trading exposure under check for near term outperformance.*
(2.21 am IST)