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10 things you need to know before the opening bell on July 14

Updated : July 14, 2021 08:29 AM IST

The Indian market is likely to open lower on Wednesday following weakness in global peers after a sharp rise in US inflation spooked investors and boosted dollar and treasury yields. The trend on SGX Nifty also indicates a negative start for the broader index in India. The Nifty futures were trading 54.15 points or 0.34 percent lower at the 15,779 level on the Singaporean Exchange at 8:05 am.

 1. Wall Street:  Bond yields spiked and global share prices slipped after hitting new highs on Tuesday after the biggest jump in US inflation in 13 years scared investors who have seen equity prices double from last year's lows. Stocks closed lower on Wall Street Tuesday, bringing major indexes slightly below the record highs they set a day earlier. The S&P 500 fell 0.4 percent and DJIA lost 0.3 percent. The tech-heavy index Nasdaq fell 0.4 percent.
1. Wall Street: Bond yields spiked and global share prices slipped after hitting new highs on Tuesday after the biggest jump in US inflation in 13 years scared investors who have seen equity prices double from last year's lows. Stocks closed lower on Wall Street Tuesday, bringing major indexes slightly below the record highs they set a day earlier. The S&P 500 fell 0.4 percent and DJIA lost 0.3 percent. The tech-heavy index Nasdaq fell 0.4 percent.
 2. Asian stocks:  Shares in Asia-Pacific mostly slipped in Wednesday morning trade following a hotter-than-expected US inflation report for June overnight. China’s Shanghai Composite declined 0.61 percent. Hong Kong’s Hang Seng index shed 0.52 percent. In Japan, the Nikkei 225 slipped 0.14 percent. The Kospi in South Korea dipped 0.26 percent. Meanwhile, Australia’s S&P/ASX 200 edged 0.37 percent higher. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.19 percent.
2. Asian stocks: Shares in Asia-Pacific mostly slipped in Wednesday morning trade following a hotter-than-expected US inflation report for June overnight. China’s Shanghai Composite declined 0.61 percent. Hong Kong’s Hang Seng index shed 0.52 percent. In Japan, the Nikkei 225 slipped 0.14 percent. The Kospi in South Korea dipped 0.26 percent. Meanwhile, Australia’s S&P/ASX 200 edged 0.37 percent higher. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.19 percent.
 3. D-Street:  The Indian indices ended higher on Tuesday, following a rally in Asian peers, mainly boosted by banking and financials. The Sensex ended 397 points higher at 52,770 and the Nifty rose 120 points to settle at 15,812.
3. D-Street: The Indian indices ended higher on Tuesday, following a rally in Asian peers, mainly boosted by banking and financials. The Sensex ended 397 points higher at 52,770 and the Nifty rose 120 points to settle at 15,812.
 4. Oil:  Oil prices rose more than 1 percent Tuesday, as tight supply and expectations of a further draw in the US and global crude inventories provided support. Brent crude rose 1.6 percent to $76.34 a barrel, and the US WTI crude rose 1.5 percent to $75.21 a barrel.
4. Oil: Oil prices rose more than 1 percent Tuesday, as tight supply and expectations of a further draw in the US and global crude inventories provided support. Brent crude rose 1.6 percent to $76.34 a barrel, and the US WTI crude rose 1.5 percent to $75.21 a barrel.
 5. Rupee:  Indian bond yields eased while the rupee strengthened Tuesday, as better-than-expected retail inflation of 6.26 percent print helped calm investors who were worried over the Reserve Bank of India advancing its policy normalisation timeline. Rupee ended at 74.4925/5025 per dollar compared to its close of 74.57 on Monday.
5. Rupee: Indian bond yields eased while the rupee strengthened Tuesday, as better-than-expected retail inflation of 6.26 percent print helped calm investors who were worried over the Reserve Bank of India advancing its policy normalisation timeline. Rupee ended at 74.4925/5025 per dollar compared to its close of 74.57 on Monday.
 6. Gold:  Gold on Tuesday climbed Rs 106 to Rs 47,775 per 10 gram in-line with gain in global precious metal prices. But Silver lost Rs 330 to Rs 69,375 per kilogram. In the international market, gold was trading in the green at USD 1,809 per ounce and silver was flat at USD 26.21 per ounce.
6. Gold: Gold on Tuesday climbed Rs 106 to Rs 47,775 per 10 gram in-line with gain in global precious metal prices. But Silver lost Rs 330 to Rs 69,375 per kilogram. In the international market, gold was trading in the green at USD 1,809 per ounce and silver was flat at USD 26.21 per ounce.
 7. Bitcoin:  Bitcoin was trading lower Wednesday for the second day in a row after the reports showed US inflation hit 13-year high. Consumer prices increased 5.4 percent in June as compared with a year earlier—the largest monthly gain since August 2008. The largest crypto in the world is considered a hedge against inflation, so it was interesting to see the price reaction. At 7:45 am, it was trading nearly 2 percent lower at $32,481.
7. Bitcoin: Bitcoin was trading lower Wednesday for the second day in a row after the reports showed US inflation hit 13-year high. Consumer prices increased 5.4 percent in June as compared with a year earlier—the largest monthly gain since August 2008. The largest crypto in the world is considered a hedge against inflation, so it was interesting to see the price reaction. At 7:45 am, it was trading nearly 2 percent lower at $32,481.
 8. Raghuram Rajan:  India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have
8. Raghuram Rajan: India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Continue reading
 9. US consumer prices:  US consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum. The US consumer price index jumped 5.4 percent year over year last month, the largest gain since August 2008, following a 5.0 percent increase in the 12 months through May, the Labor Department said. CPI increased 0.9 percent month over month after advancing 0.6 percent in May.
9. US consumer prices: US consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum. The US consumer price index jumped 5.4 percent year over year last month, the largest gain since August 2008, following a 5.0 percent increase in the 12 months through May, the Labor Department said. CPI increased 0.9 percent month over month after advancing 0.6 percent in May.
 10. India-China trade:  The China-India bilateral trade in the first half of the year totalled USD 57.48 billion, up 62.7 percent year-on-year, perhaps the highest in recent years amid the Ladakh impasse and the COVID-19 pandemic, according to data released by China's Customs.  Continue reading
10. India-China trade: The China-India bilateral trade in the first half of the year totalled USD 57.48 billion, up 62.7 percent year-on-year, perhaps the highest in recent years amid the Ladakh impasse and the COVID-19 pandemic, according to data released by China's Customs. Continue reading
Published : July 14, 2021 08:29 AM IST
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