Pranam,
US stocks closed higher on Monday ahead of key inflation data, Dow snapped 3 day losing streak as markets started to recover some ground ahead of earnings season. Dow gained 0.62%, S&P added 0.24% and Nasdaq gained 0.18%.
USD index continued to trade lower, the benchmark fell below 102, 10 year also saw some givebacks to trade in and out of 4.00% mark. Cboe vix closed higher above 15.
Crude futures eased a bit on fears of rate hikes in US but OPEC+ supply cut limited the losses. WTI traded near 73, Brent fell below 78.
Indian indices closed marginally higher led by market heavyweight RIL that gained the most in three months on corporate action, market got boost from other names like TAMO, Bharti and Metal stocks. Sensex added 64 points and Nifty gained 25 points at close.
*The start of the results season and US inflation data may decide the market trend for the rest of week. Participants may continue to focus on stock specific activity as markets consolidate for a while before the next round of upcycle begins. As indicated Q1 results of IT heavyweights may help change the market leadership for next few months and the sector may outperform post the declaration of results. Investors may watch Q1 results season and Annual guidance/ business outlook at the upcoming AGM season for rebalancing portfolios.*
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