@AlliesFin
US stocks closed higher to recover sharply from August slump. Dow gained 0.85%, S&P added 1.45%, its best day since June 2nd, Nasdaq added 1.74%, its second back to back strong gains as yields fell.
USD index traded sharply lower near 103.48, 10 year also came off sharply near 4.12% after data showed consumer confidence is waning and cboe vix closed lower near 14.45.
Crude futures rallied over 1.3% after weakness in USD index and possibility of supply disruption on Hurricane Idalia hitting US, WTI moved past 81, Brent traded near 85.50.
Indian stocks closed marginally higher in a rangebound session on Tuesday. Sensex added 79 points and Nifty closed 37 points higher led largely by Capital Goods names along with some Banking names offset by weakness in RIL that fell for the fourth day in a row.
Strong global cues and falling US yeilds may support Indian stocks at the open, August series expiry and some volatilty in crude prices may however check the prices at higher levels and markets may continue to see stock specific action. As indicated earlier participants may continue to build positions for a range breakout for September series but may look at newer sectors to lead the rally towards calender end.
Stay tuned for updates
T.me/AlliesFin
By: via Telegram.me/AlliesFin #StockMarket #india
