US markets were closed on Monday to honour Labour day holiday. European markets had a mixed closed on Monday, FTSE closed just above the flat line but both CAC and DAX had a cut ranging from 1% to 2% as Russia stopped gas flows.
USD index moved a bit lower near 109.65 from an intraday high near 110.
Crude futures jumped almost 2+% after OPEC+ agreed on a token supply cut from October. WTI moved above 89 and Brent above 95.
Indian stocks moved higher on Monday reversing two days of losses. Sensex added close to 450 points and Nifty reclaimed 17650. BFSI, Metals and RIL lead the indices to gain close to 0.75%, FMCG and Auto names remained a bit subdued, underperforming the broader indices.
*Early leads from Asian markets and US futures indicate a positive start for global stocks. Indian stocks that have been outperforming global indices since last few sessions may continue to offer some good trading opportunities for participants. The current rotational bias in stocks and strength in Mid and Small cap names help participants to make some quick profits in near term. Also it ensures the stability in indices as stocks /sectors take a breather and avoid being tagged as technically overbought / oversold and offer continuous opportunities. Investors may watch out for entry points at market weakness to build long term portfolios.*
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_(prices as on 4.51 am IST)_
By: via @AlliesFin Serve Stock Market
