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10 things you need to know before the opening bell on April 7

Updated : April 07, 2021 07:50 AM IST

The Indian market is likely to open higher on Wednesday ahead of the Reserve Bank of India’s monetary policy announcement later today. The trend on SGX Nifty indicates a positive start for the broader index in India. The Nifty futures were trading 55.00 points or 0.37 percent higher at the 14,800.00 level on the Singaporean Exchange at 7:05 am.

 1. Wall Street:  Stocks edged lower on Wall Street, pulling major indexes slightly below the record highs they reached a day earlier. The S&P 500 fell 0.1 percent Tuesday after wavering between gains and losses throughout the afternoon. The Dow Jones Industrial Average fell 0.3 percent and the Nasdaq fell 0.1 percent to 13,698.38.
1. Wall Street: Stocks edged lower on Wall Street, pulling major indexes slightly below the record highs they reached a day earlier. The S&P 500 fell 0.1 percent Tuesday after wavering between gains and losses throughout the afternoon. The Dow Jones Industrial Average fell 0.3 percent and the Nasdaq fell 0.1 percent to 13,698.38.
 2.. Asian equities:  Asia-Pacific markets rose Wednesday as major indexes in Australia, Japan and South Korea notched gains. Australia’s ASX 200 advanced 0.6 percent, with most sectors trading higher. In Japan, the Nikkei 225 rose 0.35 percent while the Topix was up 0.6 percent.  South Korea’s Kospi added 0.47 percent.
2.. Asian equities: Asia-Pacific markets rose Wednesday as major indexes in Australia, Japan and South Korea notched gains. Australia’s ASX 200 advanced 0.6 percent, with most sectors trading higher. In Japan, the Nikkei 225 rose 0.35 percent while the Topix was up 0.6 percent.  South Korea’s Kospi added 0.47 percent.
 3. D-Street:  The Indian benchmark indices ended with minor gains on Tuesday amid volatility dragged by selling in banks, financials and IT stocks. Metal, pharma, and realty indices rose over 1 percent each and banking stocks underperformed. The Sensex  ended 42 points higher at  49,201, and the Nifty ended 45 points higher at 14,683.
3. D-Street: The Indian benchmark indices ended with minor gains on Tuesday amid volatility dragged by selling in banks, financials and IT stocks. Metal, pharma, and realty indices rose over 1 percent each and banking stocks underperformed. The Sensex ended 42 points higher at 49,201, and the Nifty ended 45 points higher at 14,683.
 4. Crude oil:  Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world's biggest fuel consumer, fell. Brent crude futures for June rose 0.5 percent to $63.08 a barrel by 0123 GMT and the US WTI crude for May was up 0.5 percent to $59.65.
4. Crude oil: Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world's biggest fuel consumer, fell. Brent crude futures for June rose 0.5 percent to $63.08 a barrel by 0123 GMT and the US WTI crude for May was up 0.5 percent to $59.65.
 5. Rupee:  The rupee pared its initial gains to close down by 12 paise at 73.42 against the US currency on Tuesday amid concerns that rising COVID-19 cases and subsequent lockdowns in some states may hurt the economic recovery. Investors were also cautious ahead of the RBI policy statement to be released on Wednesday. Besides, gains in crude prices and a stronger dollar overseas weighed on the rupee sentiment.
5. Rupee: The rupee pared its initial gains to close down by 12 paise at 73.42 against the US currency on Tuesday amid concerns that rising COVID-19 cases and subsequent lockdowns in some states may hurt the economic recovery. Investors were also cautious ahead of the RBI policy statement to be released on Wednesday. Besides, gains in crude prices and a stronger dollar overseas weighed on the rupee sentiment.
 6. Gold:  Gold prices in the national capital rose by Rs 83 to Rs 45,049 per 10 gram on Tuesday following rally in international precious metal prices, according to HDFC Securities. Silver also gained Rs 62 to Rs 64,650 per kg from the previous close of Rs 64,588 per kg. In the international market, gold was quoting with gains at USD 1,733 per ounce and silver was flat at USD 24.97 per ounce.
6. Gold: Gold prices in the national capital rose by Rs 83 to Rs 45,049 per 10 gram on Tuesday following rally in international precious metal prices, according to HDFC Securities. Silver also gained Rs 62 to Rs 64,650 per kg from the previous close of Rs 64,588 per kg. In the international market, gold was quoting with gains at USD 1,733 per ounce and silver was flat at USD 24.97 per ounce.
 7. RBI policy:  In the first policy review for FY22, the Reserve Bank of India (RBI) monetary policy committee (MPC) is expected to keep benchmark rates unchanged accompanied by an accommodative bias. Developments since the February review—sticky inflation and an increase in COVID cases—are likely to influence the policy guidance.    Read more
7. RBI policy: In the first policy review for FY22, the Reserve Bank of India (RBI) monetary policy committee (MPC) is expected to keep benchmark rates unchanged accompanied by an accommodative bias. Developments since the February review—sticky inflation and an increase in COVID cases—are likely to influence the policy guidance. Read more
 8. COVID-19:  The Delhi government imposed night curfew from 10 pm to 5 am from April 6 to 30 following a surge in the COVID-19 cases in the national capital.   Read more  .
8. COVID-19: The Delhi government imposed night curfew from 10 pm to 5 am from April 6 to 30 following a surge in the COVID-19 cases in the national capital. Read more.
 9. SEBI:  Capital markets regulator Sebi on Tuesday asked institutional investors like banks, insurance companies and pension funds to follow ’transparent’ Stewardship Code in order to be truly accountable to their clients and beneficiaries.   Read more  .
9. SEBI: Capital markets regulator Sebi on Tuesday asked institutional investors like banks, insurance companies and pension funds to follow ’transparent’ Stewardship Code in order to be truly accountable to their clients and beneficiaries. Read more.
 10. GDP forecast:  The International Monetary Fund (IMF) in its latest World Economic Outlook update for April 2021, has revised India’s GDP growth forecast. The IMF now expects India’s economy to grow by 12.5 percent in FY22, 100 basis points higher than its last forecast in January.   Read more  .
10. GDP forecast: The International Monetary Fund (IMF) in its latest World Economic Outlook update for April 2021, has revised India’s GDP growth forecast. The IMF now expects India’s economy to grow by 12.5 percent in FY22, 100 basis points higher than its last forecast in January. Read more.
Published : April 07, 2021 07:50 AM IST
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