10 things to know before market opens on January 7

SUMMARY

Indian shares may open flat-to-positive Friday as Asian peers surged higher. The Singapore-based SGX Nifty Futures, an early indicator of Nifty50's performance, indicated a green start as it rose to 17,846, up 25 points or 0.15 percent, at 7:55 am. Among major pre-market open cues today, Nasdaq declined 0.1 percent, Brent crude oil is trading above $80, and Bitcoin’s sentiment indicator shows fear in the market.

By CNBCTV18.comJan 7, 2022 8:23:06 AM IST (Published)

Wall Street: More declines in tech stocks pulled indices lower on Wall Street on Thursday. S&P fell 0.1 percent. The Dow Jones fell over 0.5 percent, and the tech-heavy Nasdaq declined 0.1 percent.

Asian equities: Asian shares were trading higher on Friday despite losses on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan is up over half a percent. Shares in Japan rose by 0.5 percent. Chinese blue chips surged 0.35 percent. Hong Kong’s HSI inched 0.8 percent higher. South Korea’s Kospi rose 1 percent. Elsewhere in Australia, stocks surged over 1.5 percent.

D-Street: The Indian shares broke a 4-day winning run to close a percent lower on Thursday. Sensex declined over 620 points to 59,600 and the Nifty50 index settled at 17,745, down 180 points. Gains in auto, consumer, and PSU stocks limited the downside.

Crude oil: Oil prices rose sharply on Thursday on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya. On Friday, both benchmarks were up over half a percent, with the Brent crude at $82.49 and the US oil at $79.98.

Rupee: The rupee declined 4 paise to close at 74.42 on Thursday, tracking the strength of the greenback in the overseas market. Meanwhile, the dollar index was up 0.05 percent to 96.22.

Gold: Gold futures on MCX fell by Rs 600 to Rs 48,020 per 10 grams on Thursday. Silver futures for delivery in March also slumped by over Rs 1,780 to Rs 62,238 per kilogram. On Friday, both precious metals were mixed in the international market, with gold at $1,790 and silver at $22.12 per ounce.

Bitcoin: Bitcoin prices declined further by 2 percent on Friday morning to $42,900-levels as the bitcoin’s fear and greed index is at the lowest level since July, showing there is extreme fear among investors. The coin is down over 8 percent over the past seven days. Meanwhile, Ether prices also declined over 4 percent to $3,385.

Budget 2022: Confederation of Indian Industry (CII) president TV Narendran said the Union government should focus on investment and infrastructure in the next Budget, rather than focusing on introducing new measures every year.