Pre Market - Snapshot - 02-08-2021


 

US stock indices closed lower on Friday posting a weekly loss. Renewed concerns about rise of COVID-19 cases and disappointing results from Amazon  partly to be blamed for the slump. S&P 500 index posted gains for six straight months, its longest winning streak since 2018. Indices lost between 0.42% to 0.71%. 

US dollar index moved higher near 92.12, 10 year traded near 1.240%, Cboe Vix closed above 18.


Crude futures traded steady, WTI below 74, Brent below 76. 


The domestic markets ended last week with moderate losses. The Indian indices closed lower on Friday. Sensex closed  0.13% lower while Nifty was down 0.10%. Most sectors saw minor profit taking with an exception of pharma that saw gains post strong numbers from Sun Pharma which gained double digits post results. 


For the week watch for RBI MPC meet, Q1 results season progress and developments on Covid front. Continue to trade with smaller bias on rotational basis till the Nifty range breakout unfolds.

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