10 things you need to know before opening bell on June 24

SUMMARY

The Indian market is likely to open higher on Thursday amid a mixed trend in Asian peers. At 8:05 am, the SGX Nifty was trading 82 points or 0.52 percent higher at 15,776, indicating a flat-to-positive start for the broader index in India.

By CNBCTV18.comJun 24, 2021 8:29:08 AM IST (Published)

1. Wall Street: Stocks drifted to a mixed finish on Wall Street Wednesday, after tentative gains earlier in the day brought the S&P 500 back near a record high. The benchmark index fell 0.1 percent after a robust start, and the tech-heavy Nasdaq rose 0.1 percent. The Dow Jones Industrial Average slipped 0.1 percent.

2. Asian stocks: Shares in Asia-Pacific struggled for direction in Thursday morning trade after the S&P 500 on Wall Street snapped its two-day winning streak overnight. Mainland Chinese stocks slipped in early trade, with the Shanghai composite down 0.28 percent. Over in Hong Kong, the Hang Seng index advanced 0.36 percent. In Japan, the Nikkei 225 hovered above the flatline. South Korea’s Kospi gained 0.35 percent. Meanwhile, the S&P/ASX 200 in Australia declined 0.42 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.12 percent higher.

3. Dalal Street: Indian shares failed to hold on to recovery and ended lower on Wednesday as losses in IT and metal stocks outweighed gains in auto stocks. The Sensex ended 282 points or 0.5 percent lower at 52,306, and the Nifty50 index lost 85 points or 0.5 percent to end at 15,686.

4. Crude oil: Oil prices climbed on Thursday after a sharp drawdown in US crude and gasoline stocks reinforced optimism of a quick recovery in fuel demand and on doubts about the future of the 2015 Iran nuclear deal that could end US sanctions on Iranian crude exports. Brent crude futures rose 0.1 percent to $75.28 a barrel by 0103 GMT. US West Texas Intermediate (WTI) crude futures gained 0.1 percent to $73.14 a barrel.

5. Gold: Gold on Wednesday gained Rs 110 to Rs 46,396 per 10 gram following recovery in global precious metal prices. Silver also climbed Rs 324 to Rs 66,864 per kilogram from Rs 66,540 per kilogram in the previous trade. In the international market, gold was trading with marginal gains at USD 1,783 per ounce and silver was trading flat at USD 25.94 per ounce.

6. Rupee: The rupee snapped its two-day losing streak to settle 10 paise higher at 74.27 against the US dollar on Wednesday, tracking a weak greenback overseas. At the interbank forex market, the local unit opened at 74.26 against the American currency and witnessed an intra-day high of 74.07 and a low of 74.39.

7. Bitcoin: The crypto market reversed losses of the previous two sessions and Bitcoin traded up to 10 percent higher on Wednesday. Till about 2:45 am on Thursday, the coin was trading nearly 2 percent higher, but at the time of writing, it was 3 percent down, trading at $32,791.

8. India's growth projection: Moody's Investors Service on Wednesday slashed India's growth projection to 9.6 percent for the 2021 calendar year, from its earlier estimate of 13.9 percent. It said faster vaccination progress will be paramount in restricting economic losses to the June quarter.