US stocks started the fresh week with gains. Dow rose 0.52% led by energy names, _yesterday's gain puts Dow on the longest winning streak of 11 straight days since February 2017._ S&P added 0.40% and Nasdsq added 0.19% at close.
USD index once again traded higher near 101.37, 10 year too gained some ground to trade near 3.88% and cboe vix closed up at 13.91.
Crude futures traded higher on Monday. As expected supply tightness overshadowed the anticipated FED tightening. WTI traded near 79, Brent near 83.
Indian stocks ended in red on Monday as FMCG majors like ITC and banking heavyweight Kotak and market leader RIL results weighed on the markets. Sensex lost 299 points and Nifty gave back 72 points at close.
Markets may continue to consolidate as Q1 results season progresses and participants await news from FED on Wednesday. As indicated earlier, focus on individual names and buying the stock of choice on dips to remain relevant in the near term remains the best strategy. Investors may continue to use the current givebacks to accumulate quality names as H2 FY 2024 may continue to reward participants even better than H1.
Stay tuned for updates
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