10 things to know before opening bell on June 2

SUMMARY

Trends in global markets suggest a negative start for the Indian market on Thursday as investors remain cautious about inflation concerns. While US stocks ended the overnight session in red, Asian shares too were trading lower in morning trade. Oil prices, meanwhile, fell as investors cashed in on a recent rally with an OPEC+ meeting later in the day set to pave the way for expected output increases. Here are 10 things to know before the opening bell on June 2

By CNBCTV18.comJun 2, 2022 8:07:49 AM IST (Published)

Wall Street | Overnight on Wall Street, the S&P 500 shed 0.75 percent, the Dow Jones Industrial Average declined 0.54 percent and the tech-heavy Nasdaq Composite shed 0.72 percent.

Asian equities | Japan's Nikkei was down 0.2 percent, the Shanghai index fell 0.3 percent while Hong Kong's Hang Seng index was trading 1.2 percent lower at 7:35 am.

SGX Nifty | On the Singapore Stock Exchange, SGX Nifty, which indicates the future trend for India's broader Nifty index, was trading 0.7 percent lower at 16,413.50. Nifty futures too were down 0.7 percent at 7:36 am.

Dalal Street | The Sensex and Nifty nursed losses for the second straight session on Wednesday, pressured by steep declines in IT, FMCG and pharma counters. BSE Sensex declined 0.33 percent to settle at 55,381.17 in a see-saw session and the broader NSE Nifty dipped 0.37 percent to finish at 16,522.75.

Rupee | The rupee recovered from its record low to close 21 paise higher at 77.50 against the American currency on Wednesday.

Crude Oil | Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures down 2.3 percent to $113.62 per barrel at 7:21 am.

Gold | Gold held its ground on Thursday, supported by lower US Treasury yields, after mounting concerns over stubborn inflation worldwide helped prices rebound from their lowest level in two weeks in the previous session. Spot gold was steady at $1,847.49 per ounce, as of 6:06 am.

Cryptocurrency | Crypto markets too were in the red as Bitcoin lost 5.9 percent in last 24 hours to trade at $29,760.31 and Ethereum too fell 5.9 percent to $1,821.05 at 7:34 am.

Russia-Ukraine war | Russian forces fought their way into the centre of Ukraine's industrial city of Sievierodonetsk on Wednesday, edging closer to claiming a big prize in their offensive in the eastern Donbas region.

Economic concerns | JPMorgan CEO Jamie Dimon warned that an economic “hurricane” caused by the Federal Reserve and the war in Ukraine is brewing, according to a CNBC report.