Pre Market - Snapshot - 02/06/2021



US markets end mixed on Tuesday; optimism on improving economic data was offset by fears of higher inflation. Dow closed marginally above the flat line, S&P closed just below the flat line, Nasdaq lost some points below the flat line. The small-cap Russell 2000 outperformed the markets with gains over 1%. 


US dollar index traded marginally higher at 89.9, Cboe Vix inched up to close near 18. 10 years traded flat above 1.61% 


Crude futures moved higher, WTI nearing 68, Brent nearing 71, taking the prices to 3-month highs for Brent, and multiyear highs for WTI. OPEC+ demand forecast and moving slow on tapering-off of production cuts had its set-off against possible supply increase from  Iran if the sanctions are lifted.


Indian stocks took a breather in / near lifetime high zone. Nifty registered a new intraday high before settling just below the flat line at the close. Sensex inched closer to life highs on an intraday basis before closing a tad below the flat zone.


For the day, stocks may continue to consolidate with some volatile bias. Continue to reduce leverage on rallies for some consolidation for the June series.


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