Indian stocks are set to start the week on a negative note amid cues from its Asian peers on any new headlines on the Sino-US trade war ahead of a meeting of the leaders of the world’s two biggest economies later this month.
Investor sentiments will also weigh on Dhanteras, a gold buying festival in India, ahead of the festival of Diwali. India is the top buyer of gold in the world.
At 07.10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.36 percent to 10,550.50, indicating a weak 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 slipped 0.2 percent in early trades but was well off a 1-1/2 year trough touched last week. Japan's Nikkei stumbled 1.3 percent while South Korea's KOSPI index dipped 0.8 percent. Australian shares were in the negative territory too, down 0.5 percent.
Wall Street:The Dow Jones Industrial Average fell 109.91 points or 0.43 percent, to 25,270.83, the S&P 500 lost 17.31 points, or 0.63 percent, to 2,723.06 and the Nasdaq Composite dropped 77.06 points, or 1.04 percent, to 7,356.99.
Crude Oil Prices: Front-month Brent crude futures, the international benchmark for oil prices, were at $72.53 per barrel at 0030 GMT on Monday, down 30 cents or 0.4 percent from their last close. US West Texas Intermediate (WTI) crude futures were down 27 cents or 0.4 percent, at $62.87 a barrel.
Market At Close On Friday: Indian shares climbed on Friday and clocked their best weekly gain in nearly two-and-a-half years, as the rupee rose the most in more than five years and as crude prices softened. The broader NSE Nifty ended 1.66 percent higher at 10,553, while the benchmark BSE Sensex closed 1.68 percent higher at 35,011.65. The NSE index closed 5.21 percent higher for the week while the BSE index added 4.98 percent.
Rupee: The rupee firmed up 1.33 percent to a five-week high of 72.495 against the dollar, as oil prices slipped further and headed for a weekly loss of more than 6 percent.
Gold: Spot gold was firm amid solid festive demand from India, the world’s top buyer. It was last up 0.2 percent at $1,234.5 an ounce.
Dollar: The US strong jobs data sent the greenback rallying on Friday, although it struggled to hold its gains. The index which measures the greenback against a basket of major currencies was last off 0.1 percent at 96.414. Against the safe haven yen, the dollar held at 113.17. The euro was slightly higher at $1.1395.
FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 197 crore, while domestic institutional investors (DIIs) bought shares worth Rs 853 crore in the Indian equity market on November 2.
India On US-Iran Sanctions: India and other leading oil buyers will benefit from the waiver the United States has granted them from Iran sanctions, union oil minister said on Saturday. Petroleum minister Dharmendra Pradhan said it won the waiver largely due to a forceful campaign by Prime Minister Narendra Modi. India had been vocal at international forums about rising oil prices and its impact on the economy.
CIC To RBI: The Central Information Commission (CIC) has issued a show-cause notice to RBI governor Urjit Patel for "dishonouring" a Supreme Court judgment on disclosure of wilful defaulters' list. The CIC has also asked the Prime Minister's Office, the finance ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram Rajan on bad loans.
(With inputs from agencies)
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First Published: IST