10 things to know before the opening bell on Feb 23

SUMMARY

Indian equity benchmarks Sensex and Nifty50 are likely to start Wednesday's session on a positve note amid a mixed trend across other Asian markets. Investors globally remain focused on updates on the Russia-Ukraine conflict. Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty index -- was well in the green ahead of the opening bell, last up 107.5 points or 0.6 percent at 17,246, having risen as much as 0.7 percent earlier on February 23. Check out how global markets, currencies, commodities and cryptocurrencies fared ahead of the opening bell. Here are 10 things you must know:

By CNBCTV18.comFeb 23, 2022 9:04:14 AM IST (Updated)

Wall Street | The three main US stock indices ended lower on Tuesday, with the S&P 500 confirming it is in a correction mode for the first time since the 2020 COVID selloff. The S&P 500, the Dow Jones and the Nasdaq Composite fell 1-1.4 percent. On Wednesday morning, S&P 500 futures were up half a percent, suggesting a positive start ahead on Wall Street.

Asian Equities | Equities in other Asian markets were mixed as investors track updates on the Russia-Ukraine situation closely, after Russian troop movements near Ukraine and initial Western sanctions. MSCI's broadest index of Asia Pacific shares outside Japan up 0.1 percent. While Japan's Nikkei 225 was down 1.7 percent and Singapore's Straits Times down 0.6 percent, China's Shanghai Composite was up 0.3 percent, Hong Kong's Hang Seng up 0.7 percent and South Korea's KOSPI up 0.2 percent.

D-Street | February 22 was a wild day for Dalal Street investors as geopolitical tensions after Russia's ordering of troops into eastern Ukraine sent jitters across global markets. The Sensex and the Nifty50 however recovered a majority of their intraday losses by the end of a session that saw them tumbling by more than two percent each. Both headline indices finished the day down 0.7 percent. The 30-scrip shed 382.9 points to close at 57,300.7 and the Nifty settled at 17,092.2, down 114.5 points from its previous close.

Crude oil | Crude oil edged close to the $100 per barrel mark on Tuesday, but pared gains to end near 2014 highs following Western efforts to stop what they fear is the beginning of a full-scale Russian invasion. The US and the UK announced sanctions targeting Russian banks, and the European Union blacklisted more politicians. Brent crude traded as high as $99.5 a barrel -- its highest since September 2014 -- before settling at $96.8 per barrel, up 1.5 percent. US WTI crude also hit a seven-year high, as it peaked at $96 per barrel before ending at $92.4.

Rupee | The rupee declined by 29 paise to close at 74.84 against the US dollar on Tuesday, ending a five-day winning run, as crude oil spiked nearly four percent and equities tumbled. Forex traders said sustained FII outflows, a lacklustre trend in domestic equities and elevated crude oil prices weighed on investor sentiment. During the session,

Gold Prices | Gold was steady on Wednesday, holding near a nine-month high hit in the previous session, as safe-haven demand was offset by a rise in Treasury yields. Spot gold was little changed at $1,898.6 per ounce, after scaling its highest since June 1 at $1,913.9 per ounce on Tuesday. US gold futures were down 0.3 percent at $1,901.9 per ounce.

Cryptocurrency | Bitcoin -- the largest and most popular cryptocurrency -- was up by $1,192 or 3.3 percent at $37,822 on Wednesday. Ethereum was up by $38.7 or 1.5 percent at $2,616.6.

Bond deals | NABARD will raise at least Rs 2000 crore through three-year and two-day bonds, CanFin Homes will raise at least Rs 200 crore through three-year bonds and Muthoot Finance at least Rs 10 crore through two-year bonds at a 6.17 percent coupon.

Russia-Ukraine conflict | Russian President Vladimir Putin has raised the stakes in the Ukraine standoff by recognising the independence of rebel regions in the country's east. US President Joe Biden on Tuesday announced the first wave of sanctions against Russia for what he said was the beginning of an invasion of Ukraine. US joins 27 EU member nations who agreed to levy their own sanctions on Russia. (Catch live updates here)

UP Elections 2022 | Voting for 59 assembly constituencies spread in nine UP districts will take place on Wednesday in the fourth phase of the polls. The fourth phase of polling will decide the fate of 624 candidates in 59 Assembly segments in the districts of Pilibhit, Lakhimpur Kheri, Sitapur, Hardoi, Unnao, Lucknow, Rae Bareli, Banda and Fatehpur. Of the 59 seats, the BJP had won 51 in the 2017 Assembly elections. (Catch live updates here)