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10 things you need to know before the opening bell on January 29

Updated : 2021-01-29 08:07:36

The Indian market is likely to open lower on Friday tracking Asian peers. At 8:06 am, the SGX Nifty, an indicator of the opening for Nifty50, was trading 96.75 points lower at 13,949.

1. Wall Street: On Thursday, the Dow Jones Industrial Average rose 300 points, thanks to gains in Disney, Intel and American Express. The S&P 500 climbed nearly 1%. Thursday’s rally follows the worst sell-off in the Dow and S&P in three months on Wednesday. The Nasdaq Composite closed up 0.50% on Thursday.
1. Wall Street: On Thursday, the Dow Jones Industrial Average rose 300 points, thanks to gains in Disney, Intel and American Express. The S&P 500 climbed nearly 1%. Thursday’s rally follows the worst sell-off in the Dow and S&P in three months on Wednesday. The Nasdaq Composite closed up 0.50% on Thursday.
 2. Asian Stocks:  Stocks in Asia-Pacific were higher in Friday trade as shares stateside saw an overnight bounce from heavy losses suffered on Wednesday. Mainland Chinese stocks were trading higher, Shanghai Composite gained 0.67 percent while Shenzhen component jumped 1.22 percent, Hong Kong's Hang Seng index rose 1.17 percent. Japan's Nikkei was 0.29 percent higher while South Korea's Kospi was trading 11 percent higher. The S&P ASX200 was up 0.7 percent. MSCI's broadest index of APAC shares was trading 0.89 percent higher.
2. Asian Stocks: Stocks in Asia-Pacific were higher in Friday trade as shares stateside saw an overnight bounce from heavy losses suffered on Wednesday. Mainland Chinese stocks were trading higher, Shanghai Composite gained 0.67 percent while Shenzhen component jumped 1.22 percent, Hong Kong's Hang Seng index rose 1.17 percent. Japan's Nikkei was 0.29 percent higher while South Korea's Kospi was trading 11 percent higher. The S&P ASX200 was up 0.7 percent. MSCI's broadest index of APAC shares was trading 0.89 percent higher.
3.  Indian Markets:  Indian indices ended nearly a percent lower on Thursday, extending losses for the fifth consecutive session with the Nifty falling below 13,880 dragged mainly by losses in the IT and financial stocks. The Sensex ended 535.57 points or 1.13 percent lower at 46,874.36, while the Nifty declined 149.95 points or 1.07 percent to close at 13,817.55. Broader markets, meanwhile, reeled under pressure with the Nifty Midcap index falling 0.59 percent and smallcap index declining 0.69 percent.
3. Indian Markets: Indian indices ended nearly a percent lower on Thursday, extending losses for the fifth consecutive session with the Nifty falling below 13,880 dragged mainly by losses in the IT and financial stocks. The Sensex ended 535.57 points or 1.13 percent lower at 46,874.36, while the Nifty declined 149.95 points or 1.07 percent to close at 13,817.55. Broader markets, meanwhile, reeled under pressure with the Nifty Midcap index falling 0.59 percent and smallcap index declining 0.69 percent.
 4. Crude Oil:  Oil was steady on Thursday as the impact of a weaker dollar and big U.S. crude inventory drawdown offset concerns that delays to vaccine rollouts and fresh travel curbs to prevent new coronavirus outbreaks could depress demand. Brent futures for March delivery, which expire on Friday, fell 1 cent to $55.80 a barrel by 11:11 a.m. EST (1611 GMT), while U.S. West Texas Intermediate (WTI) crude was 16 cents, or 0.3 percent, lower at $52.69.
4. Crude Oil: Oil was steady on Thursday as the impact of a weaker dollar and big U.S. crude inventory drawdown offset concerns that delays to vaccine rollouts and fresh travel curbs to prevent new coronavirus outbreaks could depress demand. Brent futures for March delivery, which expire on Friday, fell 1 cent to $55.80 a barrel by 11:11 a.m. EST (1611 GMT), while U.S. West Texas Intermediate (WTI) crude was 16 cents, or 0.3 percent, lower at $52.69.
 5. Rupee:  The rupee depreciated by 13 paise to settle at 73.05 (provisional) against the US dollar on Thursday, tracking muted domestic equities and a strengthening American currency. At the interbank forex market, the rupee opened at 73.13 against the greenback and hit an intra-day high of 73.04 and a low of 73.15. It finally finished at 73.05, lower by 13 paise over its last close. On Wednesday, the rupee had ended at 72.92. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.08 per cent to 90.71.
5. Rupee: The rupee depreciated by 13 paise to settle at 73.05 (provisional) against the US dollar on Thursday, tracking muted domestic equities and a strengthening American currency. At the interbank forex market, the rupee opened at 73.13 against the greenback and hit an intra-day high of 73.04 and a low of 73.15. It finally finished at 73.05, lower by 13 paise over its last close. On Wednesday, the rupee had ended at 72.92. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.08 per cent to 90.71.
 6. Gold:  Gold prices were steady on Friday as investors waited for developments around a U.S. stimulus package, although the metal was on course to post a weekly and monthly decline hurt by a stronger dollar. Spot gold was unchanged at $1,840.91 per ounce by 0058 GMT. Prices were down 0.6 percent for the week and 2.9 percent for the month. U.S. gold futures rose 0.1 percent to $1,839.70.
6. Gold: Gold prices were steady on Friday as investors waited for developments around a U.S. stimulus package, although the metal was on course to post a weekly and monthly decline hurt by a stronger dollar. Spot gold was unchanged at $1,840.91 per ounce by 0058 GMT. Prices were down 0.6 percent for the week and 2.9 percent for the month. U.S. gold futures rose 0.1 percent to $1,839.70.
 7. Fiscal Stimulus:  Chatter continued on fiscal stimulus with Speaker of the House & Democrat Nancy Pelosi prefacing that the House will next week on a budget resolution. That step prepares the groundwork for the potential passage of stimulus via the reconciliation process.
7. Fiscal Stimulus: Chatter continued on fiscal stimulus with Speaker of the House & Democrat Nancy Pelosi prefacing that the House will next week on a budget resolution. That step prepares the groundwork for the potential passage of stimulus via the reconciliation process.
 8. Coronavirus Vaccine:  This will be in keen market focus especially in EU. Johnson & Johnson confirmed it will report vaccine data by early next week. Market expects the preliminary Phase III efficacy data is likely to be positive. The real unknown is whether the vaccine only requires one dose, unlike vaccines that have been approved already.
8. Coronavirus Vaccine: This will be in keen market focus especially in EU. Johnson & Johnson confirmed it will report vaccine data by early next week. Market expects the preliminary Phase III efficacy data is likely to be positive. The real unknown is whether the vaccine only requires one dose, unlike vaccines that have been approved already.
 9. Economic Survey:  The Economic Survey 2020-21, which will be presented in the Parliament by Finance Minister Nirmala Sitharaman today, has forecast India's FY22 growth at close to 11 percent, sources told CNBC-TV18.
9. Economic Survey: The Economic Survey 2020-21, which will be presented in the Parliament by Finance Minister Nirmala Sitharaman today, has forecast India's FY22 growth at close to 11 percent, sources told CNBC-TV18.
 10.   GameStop Rally:  An army of retail investors that has routed Wall Street's professionals in recent days was dealt a blow on Thursday, after online brokerages restricted purchases of red-hot GameStop and other stocks that had soared this week. But the shares rebounded in after-hours trading, resuming their advances after Robinhood Markets Inc and Interactive Brokers said they planned to lift the restrictions on Friday. Retail investors, celebrities and policymakers had denounced Thursday's restrictions and participants in online forums seethed, accusing the trading platforms of seeking to protect Wall Street's interests at the expense of smaller investors.
10. GameStop Rally: An army of retail investors that has routed Wall Street's professionals in recent days was dealt a blow on Thursday, after online brokerages restricted purchases of red-hot GameStop and other stocks that had soared this week. But the shares rebounded in after-hours trading, resuming their advances after Robinhood Markets Inc and Interactive Brokers said they planned to lift the restrictions on Friday. Retail investors, celebrities and policymakers had denounced Thursday's restrictions and participants in online forums seethed, accusing the trading platforms of seeking to protect Wall Street's interests at the expense of smaller investors.
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