The Indian market is likely to have a tepid start on Thursday due to weak Asian peers as the markets awaited more clarity on US-China trade talks that raised hopes of a deal to avert an all-out trade war.

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At 07:00 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.28 percent at 10,906, indicating a mildly positive start for the Indian market.

Here is what you need to know before the market opens

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Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was a tad lower, trading not far off a near four-week high. Australian shares were down 0.2 percent, while Japan's Nikkei eased 1.2 percent.

US: The Dow Jones Industrial Average rose 0.39 percent to finish at 23,879.12 points, while the S&P 500 gained 0.41 percent to 2,584.96. The Nasdaq Composite added 0.87 percent to 6,957.08. The benchmark S&P 500, now in its longest daily winning streak in nearly four months, is up about 10 percent from a 20-month low it touched around Christmas, lifted by hopes for a deal between the world's two largest economies.

Market at close on Wednesday: The equity market closed with gains on Wednesday after a volatile session of trade. The 30-stock BSE Sensex advanced 232 points to end the session at 36,213, while the NSE Nifty50 surged 53 points to 10,855. Benchmark indices gained with financials leading from the front with HDFC, Axis Bank and HDFC Bank helping Nifty move 38 points higher.

Oil Prices: US West Texas Intermediate (WTI) crude oil futures were at $51.93 per barrel at 0033, down 43 cents, or 0.8 percent, from their last settlement. International Brent crude futures were down 1 percent, or 63 cents, at $60.81 per barrel.

Rupee: The rupee closed at 70.46, down by 26 paise against the dollar on Wednesday.

Dollar: The dollar index was marginally lower at 95.14, after losing 0.7 percent on Wednesday. The index has weakened in four out of the last five sessions as traders wager that US interest rates will stay steady in 2019.

FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 276 crore while domestic institutional investors (DIIs) bought shares worth Rs 440 crore in the Indian equity market on January 9.

Quota Bill: The Narendra Modi government’s landmark bill reserving 10 percent of government jobs for the economically weaker sections among the upper castes, a move criticised by opposition parties as a pre-election gimmick amid high unemployment rates in the country, cleared the Parliament test with the Rajya Sabha passing it late on Wednesday. The approval in Rajya Sabha was a formality after almost all political parties voiced their support for it. The Lok Sabha already passed the bill.

US-China Trade War: China's commerce ministry said on Thursday trade talks with the United States this week were extensive and detailed, and established a foundation for the resolution of each others' concerns. Washington has presented Beijing with a long list of demands that would rewrite the terms of trade between the world's two largest economies. They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.

Monsanto Patent Victory: The Supreme Court ruled that Monsanto can claim patents on its genetically modified (GM) cotton seeds, a victory for the US company that is expected to encourage biotechnology firms to step up investment in the country. The decision on appeal overturns an earlier ruling by the Delhi High Court that Monsanto - the world's biggest seed maker, which has been bought by Germany's Bayer AG - could not claim patents on GM cotton seeds.

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First Published:Jan 10, 2019 7:28 AM IST