Indian equity market looked set to open mildly positive on Thursday but trading is likely to be volatile on the back of futures and options expiry of September contracts later in the day.
At 07:10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, rose 0.17 percent to 11,122, indicating a mildly higher opening for the Indian market today.
Here is what you need to know before the market opens: Asia: MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.05 percent in early trade while Japan's Nikkei fell 0.45 percent. US: The Dow Jones Industrial Average fell 106.93 points, or 0.4 percent, to 26,385.28, the S&P 500 lost 9.59 points, or 0.33 percent, to 2,905.97 and the Nasdaq Composite dropped 17.11 points, or 0.21 percent, to 7,990.37. Dollar index: The dollar index against a basket of six major currencies stood at 94.266, having gained 0.13 percent on Wednesday. It hovered above Friday's 2 1/2-month low of 93.808. Crude oil prices: Brent crude futures were at $82.04 per barrel at 0104 GMT, up by 70 cents, or 0.9 percent from their last close. US West Texas Intermediate (WTI) crude futures were at $72.35 a barrel, up 78 cents, or 1.1 percent from their last settlement. Market at close on Wednesday: Indian shares ended lower on Wednesday despite benchmark indices making a recovery in the last hour of trade after yet another day marked by volatility. The NSE Nifty50 closed 14 points lower at 11,053.80 and the BSE Sensex gained 185 points from lows to end the session 110 points lower at 36,542.27. Rupee: The Indian rupee closed at 72.61 against the US dollar on Wednesday, up 8 paise from Tuesday’s close of 72.69. FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 809.95 crore while domestic institutional investors bought shares worth Rs 1,555.44 crore in the Indian equity market on Wednesday. US Fed Rate Hike: The US Federal Reserve raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the US economy would enjoy at least three more years of growth. In a statement that marked the end of the era of "accommodative" monetary policy, Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00 percent to 2.25 percent. Supreme Court on Aadhaar: The Supreme Court upheld the constitutional validity of India's ambitious biometric identity project 'Aadhaar', saying it benefits the marginalised and poor, but raised multiple concerns around the law that governs it, particularly concerning privacy and called for a raft of changes. Aadhaar cannot be made compulsory for services such as bank accounts, mobile connections or school admissions, however, it must be liked to PAN cards, making it essential for filing income tax returns, the Supreme Court said. Government raises import duty: Aimed at narrowing Current Account Deficit (CAD), the government on Wednesday raised import tariffs on 19 "non-essential items." AC, refrigerators and washing machines prices will increase as the government raises import duty to cut CAD. (With inputs from agencies)
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