10 things to know before opening bell on May 25

SUMMARY

The Indian stock market is likely to make a positive start on Wednesday following mixed cues from global markets. US stocks ended the session on a mixed note and Asian shares too were trading mixed as investors worried about slowing economies amid inflation concerns. From Wall Street, oil, gold, rupee to cryptocurrency, here are 10 things to know before opening bell on May 25

By CNBCTV18.COMMay 25, 2022 7:58:33 AM IST (Published)

Wall Street | The Nasdaq Composite dropped 2.35 percent and the S&P 500 lost 0.81 percent as investors turned to defensive positions. But shares pared losses late and the Dow Jones Industrial Average managed to close up 0.15 percent.

Asian equities | Japan's Nikkei was trading 0.28 percent lower, while the Shanghai index rose 0.10 percent, Hong Kong's Hang Seng index was up 0.07 percent, and Australia's ASX 200 was trading 0.79 percent higher at 7:29 am.

SGX Nifty | Trends on Singapore Stock Exchange hint at a start in the green for the Indian market. SGX Nifty, which is an early indicator of how India's broader Nifty would perform, was up 0.21 percent and so were Nifty futures at 7:35 am.

Dalal Street | Sensex opened higher but could not carry forward the momentum and declined 236 points or 0.43 percent to settle at 54,052.61 on Tuesday. NSE Nifty dropped 89.55 points or 0.55 percent to end at 16,125.15.

Rupee | The rupee slipped by 2 paise to close at 77.57 against the US dollar in restricted trade on Tuesday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows.

Gold | Gold prices hovered near a two-week high buoyed by a pullback in US Treasury yields and the dollar, with downbeat sentiment in riskier assets adding to safe-haven bullion's appeal. Spot gold held its ground at $1,865.39 per ounce, as of 6:12 am.

Crude Oil | Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the US summer driving season. Brent crude futures for July rose 0.99 percent, to $114.68 a barrel by 7:26 am.

Cryptocurrency | Crypto market too was trading mixed with Bitcoin up 1.95 percent in last 24 hours to $29,829.71 while Ethereum was down 0.09 percent to $1,986.83.

Earnings | Apollo Hospitals, Coal India, Bharat Petroleum Corporation Ltd, Interglobe Aviation, and Torrent Pharma among others will report their quarterly earnings today.

Russia-Ukraine war | Russian forces waged an all-out assault on Tuesday to encircle Ukrainian troops in twin cities straddling a river in eastern Ukraine, a battle that could determine the success or failure of Moscow's main campaign in the east.