10 things to know before opening bell on March 3

SUMMARY

10 things you need to know: Indian shares are likely to start on a positive note on Thursday, amid a mixed set of global cues. While the Fed Chairman Jerome Powell's comments on milder interest rates is encouraging, the ongoing war between Russia and Ukraine will weigh on the overall sentiments. The Singapore Exchange-traded Nifty50 futures rose 0.2 percent to 16,652 as of 7:39 am on Thursday, indicating a positive start for Dalal Street. Here are the top 10 cues to know before the opening bell today:

By CNBCTV18.comMar 3, 2022 8:05:52 AM IST (Published)

Wall Street | US stock markets on Wednesday rebounded after days of fall as Federal Reserve Chair Jerome Powell said he supports a more modest rise in interest rates this month than some investors had been fearing. The S&P 500 rose 80.28 points, or 1.9 percent, to 4,386.54. The Dow Jones Industrial Average rose 596.40 points, or 1.8 percent, to 33,891.35. Nasdaq rose 219.56 points, or 1.6 percent, to 13,752.02 and Russell 2000 index of smaller companies rose 50.37 points, or 2.5 percent, to 2,058.87.

Asian equities | A bounce back in US key indices supported the uptrend in Asian equities on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5 percent higher. Japan's Nikkei 225 gained 0.9 percent to 26,617.51 and South Korea's Kospi was up over a percent at 2,732.66. Hong Kong's Hang Seng was up 0.3 percent at 22,415.66 and China's Shanghai Composite also gained 0.3 percent at 3,491.70.

Dalal Street | Indian equity benchmarks snapped a two-day winning streak on Wednesday with the market resuming trade after a day's holiday. Weakness across global markets amid escalating tensions between Russia and the West over Ukraine and lower than expected GDP growth dampened investor sentiment. Nifty50 settled 1.1 percent lower at 16605.95 while Sensex closed at 55468.90, down 1.4 percent.

Oil prices | Crude oil surged again on a wave of divestments from Russian oil assets by major companies and expectations that the market will remain short of supply for months to come. US crude rose another 36 cents to $110.96 a barrel, while Brent had yet to trade having surged 9 percent overnight to $114.54.

Rupee | The rupee depreciated by 47 paise to close at 75.80 against the US dollar on Wednesday, pressured by the Russia-Ukraine crisis. At the interbank foreign exchange market, the rupee opened at 75.78 against the American dollar but later dropped to a low of 75.86. The local unit finally finished at 75.80, down 47 paise from its previous close.

Dollar index | The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.20 percent higher at 97.60

Gold | Gold for April delivery fell $21.50 to $1,922.30 an ounce.

Russia-Ukraine Conflict | Russian troops are in the Ukrainian city of Kherson and forced their way into the council building, the mayor said after a day of conflicting claims over whether Moscow had make the first major gain of a city in its invasion that began eight days ago. READ MORE

Trading on NSE IFSC for Amazon, Tesla, 6 other US stocks | NSE International Exchange (NSE IFSC), a wholly-owned subsidiary of the NSE, will start trading Amazon, Tesla, 6 other US stocks from today onwards. The trading currency will be US Dollars and the minimum ticket size is $0.01. The trading will start at 8:30 PM on day one to 2:30 PM the next day.

Stocks to Watch | Shares of Vedanta, UPL, Chalet Hotels, ABB India, Mukand, Hind Rectifiers, Swan Energy and a few more will be closely tracked by investors. READ MORE