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10 things you need to know before the opening bell on October 6

10 things you need to know before the opening bell on October 6

10 things you need to know before the opening bell on October 6
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By Oct 6, 2021 8:06:10 AM IST (Published)

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The Indian market is likely to open higher on Wednesday following mixed global cues. SGX Nifty futures, at 7:45 am, were trading half a percent or 82 points higher at 17,797.

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1. Wall Street: Stocks closed with solid gains on Wall Street Tuesday, erasing most of the previous days’ losses. The S&P 500 rose 1 percent, with technology companies and banks leading the gains. The Dow Jones Industrial Average and Nasdaq also rose over 1 percent. Bond yields also climbed higher.

Vaccine news triggers cash dump on emerging markets - IIF
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2. Asian markets: Shares in Asia-Pacific were mixed in Wednesday trade, following an overnight bounce on Wall Street. In Japan, the Nikkei 225 shed earlier gains to fall 0.18 percent. South Korea's Kospi slipped 0.46 percent. Hong Kong's Hang Seng index sat marginally higher. Shares in Australia dipped, with the S&P/ASX 200 falling 0.29 percent. MSCI's broadest index of Asia-Pacific shares outside Japan traded flat.

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3. D-Street: The Indian equity benchmark indices closed higher for the second straight session despite weakness in Asian markets. The Sensex closed at 59,744, as it rose 445 points. And the Nifty50 index surged 130 points to end at 17,822.

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4. Crude oil: US oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global energy crunch. Brent crude prices also climbed for a fourth day on the supply anxiety. WTI oil earlier rose to $79.18 a barrel, finally settling at $79.05 a barrel. Brent crude added 0.15 percent to $82.68 a barrel.

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5. Rupee: The rupee fell 13 paise to hit its weakest closing in nearly eight weeks at 74.44 against the US dollar Tuesday. It was weighed down by the strengthening of the greenback in the overseas market and rising crude oil prices. Meanwhile, the dollar index was trading 0.17 percent higher at 93.93.

China gold
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6. Gold: Gold on Tuesday slipped by Rs 118 to Rs 46,887 per 10 grams amid rupee depreciation. But Silver jumped Rs 17 to Rs 60,953 per kilogram. In the international market, gold traded lower at USD 1,751 per ounce and silver remained flat at USD 22.50 per ounce.

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7. Bitcoin: Bitcoin rose 5 percent to $51,711 Tuesday, adding $2,469.07 to its previous close. Bitcoin, the world's best-known cryptocurrency, is up 86.4 percent from the year's low of $27,734. Ether, the coin linked to the ethereum blockchain network, rose 4.54 percent to $3,537.56 on Tuesday.

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8. Moody's on India's ratings: Moody's Investors Service on Tuesday changed the outlook on India's ratings to 'stable' from 'negative' and affirmed the country's foreign-currency and local-currency long-term issuer ratings and the local-currency senior unsecured rating at Baa3. Continue reading

KV Subramanian. (File Photo: IANS)
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9. CEA Subramanian on Moody's ratings: Chief Economic Adviser (CEA) Krishnamurthy Subramanian on Tuesday said international rating agency Moody’s projection of 6 percent growth rate is an “underestimate" as India has been “fiscally very prudent". Continue reading

India's Finance Minister Nirmala Sitharaman
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10. FM Sitharaman on fuel prices: Union Finance Minister Nirmala Sitharaman said prices of petroleum products in the country depend on international oil rates and both the Centre and states have to together handle the issue of their rising cost. Continue reading

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