10 things to know before the opening bell on November 11

SUMMARY

Indian shares may open flat or slightly higher Thursday amid mixed global cues and the ongoing earnings season. The Singapore-based SGX Nifty Futures, an early indicator of Nifty50's performance, indicated a slightly positive start as it rose 31 points, or 0.17 percent, to 17,970 at 7:53 am. Among major pre-market cues today, the tech-heavy Nasdaq plunged 1.7 percent, Bitcoin is down to $64,000, and US consumer prices and inflation rose to multi-year highs.

By CNBCTV18.comNov 11, 2021 8:04:55 AM IST (Published)

Wall Street: Hotter than expected inflation numbers slammed into the bond market Wednesday, sending yields surging and stocks plunging. The S&P 500 declined 0.8 percent, Dow Jones was down 0.7 percent, and tech-heavy Nasdaq plunged over 1.7 percent.

Asian equities: Asian shares were mixed Thursday morning following overnight losses on Wall Street as inflation ticked higher. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.08 percent. Japan's Nikkei index rose 0.6 percent. Chinese blue chips were up over half a percent. And South Korea’s Kospi declined 0.7 percent. Elsewhere, Australian shares fell nearly 1 percent.

D-Street: The Indian shares closed a volatile session lower Wednesday. The Sensex tumbled over 80 points to 60,352. And the Nifty50 index declined over 27 points to end at 18,017.

Crude oil: Oil prices slumped Thursday, hit by a dollar surge after the US President said he was looking for ways to reduce energy costs amid a surge in inflation. The US oil benchmark and Brent crude futures were trading flat to $81.41 and $82.71, respectively.

Rupee: The rupee closed 31 paise lower at 74.37 Wednesday weighed down by muted domestic equities and strong dollar. Meanwhile, the dollar index was up 0.19 percent to 94.13.

Gold:Gold futures on MCX Wednesday surged over Rs 550 to Rs 48,280 per 10 grams. Silver futures for delivery in December also rose over Rs 1,250 to Rs 64,570 per kilogram. In the international market, gold declined to USD 1,847 per ounce and silver fell to USD 24.72 per ounce, respectively.

Bitcoin: Bitcoin slumped nearly 4 percent to $64,500 Thursday morning. It is up over 3 percent for the week. Ether prices also slumped 3 percent to $4,500.

Economic Recovery: India’s economic recovery has continued to trend upwards even as global economic recovery remains hamstrung, the Finance Ministry’s latest economic report has said.