US stocks moved higher gaining for second day back to back as GDP estimates and consumer confidence topped the market expectations. Both Nasdsq and S&P added 1% and Dow gained 0.74%. The Small cap Russell 2000 also gained 0.86%.
TG @AlliesFin
US dollar index declined near 96.12, cboe vix fell sharply below 19, 10 year traded flat near 1.46%.
US stock piles drawdown and risk-on sentiment helped crude to post second straight day of strong gains, WTI moved above 73, Brent traded above 75.50.
Autos, Banks and Metals stocks powered Indian markets second back to back days' gains. Nifty reclaimed 16950, Sensex added 600 points to overnight close. Mid and Small cap stocks also saw strong comeback from deeply oversold zone.
For the day watch for some volatilty in individual names on weekly options expiry trades. As indicated traded volumes may continue to remain low ahead of holiday week. Traders may watch 17171 as next major trigger level for Nifty to gain momentum in recovery trade. For investors desirous of raising liquidity the current rally may provide good option of booking profits.
By: via @AlliesFin Serve Stock Market
