Category: Market Outlook
28 August 2024
US stocks edged modestly higher ahead of key earnings report due later this week. Dow closed just above the flat line, both S&P and Nasdaq added 0.16% each. The small cap Russell 2000 however underperformed with 0.67% cuts.
USD index fell near 100.55, 10 year traded near flat zone of 3.82% and cboe vix closed lower near 15.43.
Crude futures fell almost 2.00% as markets started to hope of resumption of Libyan production. WTI fell below 76, Brent below 79.
Indian markets ended near the flat zone on global equity cues that remained muted, both Sensex and Nifty traded just shy of life highs before giving up intraday gains towards the close. Auto, FMCG and Metal names lost some ground offset by gains made by BFSI and Pharma names. ER&D names from Tata group registered strong gains in an otherwise dull market.
*Muted global equity cues, fall in crude and USD index may help stocks on Dalal Street gain some ground. Participants may continue to focus on individual names for day's trade on rotational basis.*
(3.46 am IST)