Pre Market 07 Feb 2023
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US stocks started a fresh week with some losses as FED's rate path continued to weigh on investors' mind, Dow closed just below the flat line, S&P lost 0.61% and Nasdaq closed a full percentage down.
USD index traded higher near 103.65, 10 year also moved higher near 3.64% and cboe vix moved up near 19.43.
Crude futures reversed its two days of fall to trade higher, Brent moved above 81, WTI traded above 74.
Indian stocks ended the day lower as volatility continued to grip the markets, fears of aggressive FED rate hike led the global markets including Indian stocks lower. Metal names got hit the worst while Adani stocks recovered from intraday lows. Sensex lost 335 points and Nifty gave back 90 points at close.
*Markets may continue to struggle as global equity sentiments turn cautious. Participants may also watch for RBI's first policy meet of 2023 and the guide path thereon to position their trade. Continue to watch for opportunities beyond frontline names in near term till the dust on Adani stocks settles and global equity sentiments improve.*
(as on 4.14 am IST)
By: via Telegram.me/AlliesFin #StockMarket #india
