Namaste !!
Market Updates
Telegram.me/AlliesFin
US stocks moved higher on Tuesday after slow rise in PPI lifted hopes of inflationary pressure easing. Markets also drew some hope from US-China talks at Bali. Dow closed just above flat line, S&P added 0.87% and Nasdaq closed 1.45% higher.
USD index traded near 106.56, 10 year moved lower after PPI data to 3.77% and cboe vix closed higher near 24.54.
Crude futures traded higher after oil supply to Hungary was temporarily suspended, WTI moved above 86, Brent moved towards 94.
Indian stocks closed higher amidst choppy trade on Tuesday. Indices moved in a narrow range for most part of the day with small downward bias but saw a sharp move higher towards the close on some buying. Nifty topped 18400 and Sensex closed almost 250 points higher towards the end of trade.
Markets may continue to consolidate below life high zone with individual names offering strong trading opportunities. Cooling inflation expectations along with improving macros may help markets scale past life high zone in coming days. Use givebacks, if any, to built on portfolios for life beyond 18600, also trail stops for near term trading positions for any eventuality.
(as on 4.15 am IST)
By: via Allies Fin Serve Stock Market
