@AlliesFin
US markets closed lower after Alphabet results disappointed the street and 10 year rallied back near 5.00%. Dow fell 0.32%, S&P fell 1.43% to close below 4200 for the first time since May and Nasdaq fell 2.43%, registering its worst day since February 21.
USD index traded higher near 106.56, 10 year jumped back towards 4.96% and cboe vix closed near 20.19.
Crude prices reversed from opening losses as worries over Middle East crisis overshadowed gloomy economic outlook and US inventory count. WTI moved above 85, Brent above 90.
Indian stocks traded lower over continued worries on the Middle East crisis and rising yields in the US. Sensex lost 523 points, Nifty closed below 19150 as the markets failed to hold onto opening gains. Banking names along with IT stocks took indices lower as selling pressure intensified on the penultimate day before October expiry.
Global equity sentiments and rising yields may once again put some pressure on markets at open and October series expiry may add to stock specific volatility for the day. As indicated yesterday, participants may start building some positions at every decline (only manageable exposure) for a probable year-end rally starting the November series. For investors, the current fall in stock prices provides an excellent opportunity to rebalance portfolios towards winners of the next bull run.
T,me/AlliesFin
By: via Telegram.me/AlliesFin #StockMarket #india
