10 things you should know before opening bell

SUMMARY

Trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 71 points. Among major pre-market opening cues, shares in Asia-Pacific slipped in Friday morning trade, tracking losses on Wall Street as the Russia-Ukraine war continues to keep investors cautious while foreign institutional investors (FIIs) seem to have turned less aggressive in selling as they sold shares worth Rs 1,981.15 crore on March 10. Here are 10 things you should know before opening bell on March 11:

By CNBCTV18.comMar 11, 2022 8:12:18 AM IST (Published)

Wall Street | Wall Street’s main indexes fell on Thursday, with technology stocks leading the declines after data showed consumer prices surged in February, cementing the case for an interest rate hike by the Federal Reserve later this month. The Dow Jones Industrial Average was down 246.12 points at 33,040.13, the S&P 500 was down 39.51 points at 4,238.37, and the Nasdaq Composite was down 1.44 percent at 13,064.84.

Asian Equities | Shares in Asia-Pacific slipped in Friday morning trade, tracking losses on Wall Street as the Russia-Ukraine war continues to keep investors cautious. The Nikkei 225 in Japan fell more than 1 percent in early trade, shedding some of its nearly 4 percent gain on Thursday. The Topix index slipped 1.23 percent. In South Korea, the Kospi dipped 0.78 percent. Australia’s S&P/ASX 200 climbed 0.4 percent in morning trade.

SGX NIFTY | Trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 71 points. The Nifty futures were trading around 16,498 levels on the Singaporean exchange.

D-Street | Indian equity benchmarks extended gains to the third day in a row on Thursday, helped by financial, consumer and auto shares, as planned talks between Ukraine and Russia buoyed global risk-on sentiment. Domestically, incoming data suggesting polls in five states favoured PM Narendra Modi's party lifted investor sentiment.

Crude Oil | Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up 2.8 percent, at USD 114.24 a barrel while US West Texas Intermediate (WTI) crude futures were up 1.5 percent, at USD 110.28 a barrel.

Rupee | The rupee advanced 42 paise to 76.20 against the US dollar on Thursday, supported by buoyant domestic equities and trends in state election results.

Gold prices | Gold shed over 3 percent, as a retreat in oil prices helped riskier assets stage a comeback following sharp declines spurred by the Ukraine war. Spot gold fell 2.8 percent to $1,995.55 per ounce, snapping a four-session rally that took it to within reach of the August 2020 all-time high. US gold futures fell 2.2 percent to $1,999.40.

Cryptocurrency | Bitcoin plunged back below $39,000, erasing gains sparked after US President Joe Biden’s executive order on crypto. On the other hand, Ether plunged over 4 percent to $2,567. Dogecoin price declined more than 3 percent to $0.11 whereas Shiba Inu was trading 4 percent lower at $0.000022.

Illiquid Stock Options Case | Capital markets regulator Sebi on Thursday imposed a total of Rs 15 lakh fine on three entities for indulging in non-genuine trades in stock options on BSE. In three separate orders, the regulator slapped a fine of Rs 5 lakh each on Priti Sultania, Deepa Hirani and Vivek Rungta HUF.

Russia-Ukraine War | The war in Ukraine and massive sanctions against Russia have triggered a contraction in global trade, sending food and energy prices sharply higher and forcing the International Monetary Fund to lower its global growth forecast next month, IMF Managing Director Kristalina Georgieva said on Thursday.