@AlliesFin
US stocks ended mixed as 10 year jumped on red hot retail sales data. All the three majors started the day with deep cuts as strong retail sales added to the worries over rate hikes but stocks recovered lost ground towards the end of trade. Dow and S&P managed to close just near / above the flat line but Nasdaq saw a cut of 0.25%.
USD index traded lower near 106.20, 10 year rallied to two week highs near 4.83%, cboe vix closed up near 17.88.
Crude futures traded little changed as fears of demand destruction overshadowed the Middle East crisis, WTI traded near 86.60, Brent near 91.
Indian markets snapped three days of losses as investors turned their focus on ongoing results season. Sensex rose 262 points and Nifty topped 19800 on broad based buying across sectors.
Mixed global equity sentiments and progress of Q2 results season may dominate today's trade at Dalal Street. Worries over rising yields and crude prices may limit indices' rise but better Q2 show from Indian corporates (other than IT heavyweights) and strong local macros may help provide support to stocks at every pullback. Participants may continue to look at opportunities outside indices till global headwinds settle as individual stocks provide enough opportunities to stay in the game and outperform in the near term.
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By: via Telegram.me/AlliesFin #StockMarket #india
