10 things you need to know before the opening bell

SUMMARY

Indian shares are set for a positive start on Thursday ahead of the Reserve Bank of India’s monetary policy decision, which is due later in the day. All the respondents to CNBC-TV18's poll expect a rate cut from the monetary policy committee in its first bi-monthly policy. Global cues are also likely to support the sentiment as Asian markets reached their 8-month high in early trade. Weak monsoon forecast by private agency Skymet may limit gains. At 07:13 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.18 percent at 11,733.50, indicating a positive start for the Sensex and Nifty.

By CNBC-TV18Apr 4, 2019 10:32:15 AM IST (Updated)

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan took a breather after five straight days of gains took it to its highest since late August. Japan's Nikkei was also flat to stay near a recent one-month top. (Reuters)

2. Oil Prices: Oil prices dipped on Thursday, with Brent edging away from the psychologically important $70 level after easing in the previous session on data showing a surprise build in USinventories. Brent futures eased 2 cents to $69.29 by 0100 GMT. On Wednesday, Brent dipped 6 cents, after touching $69.96, the highest since Nov. 12, when it last traded above $70. (Reuters)

3. Market close on Wednesday: Indian indices ended lower on Wednesday, snapping a four-day rally after Skymet's warning of 'below-normal' monsoon dampened prospects of higher farm and economic growth in the country. The BSE Sensex ended at 38,877, down 179 points, while the broader Nifty50 settled at 11,643, slipping 69 points.

4. RBI MPC: The Reserve Bank of India will announce the outcome of the bi-monthly monetary policy meeting today at 11:30 AM.

5. Rupee: The rupee closed at 68.42 against the US dollar on Wednesday. (stock image)

6. US and China: As per media reports, there has been touting progress in Sino-US trade talks. Bloomberg reported on Thursday the US wanted to set a 2025 target for China to meet trade pledges. The plan would see China committing to buy more US commodities, including soybeans and energy products, and allow full foreign ownership for US companies operating in China as a binding pledge. On Wednesday, the Financial Times reported the United States and China were closer to reaching a final trade agreement. (Reuters)

7. US Market: Wall Street edged higher to extend a strong start to the quarter as a rally among chipmaker shares provided a boost to the broader market. The Dow rose 0.15 percent, while the S&P 500 gained 0.21 percent and the Nasdaq 0.6 percent. (Reuters)

8. FIIs and DIIs: Foreign Institutional Investors (FIIs) sold shares worth Rs 1,040.48 crore and Domestic Institutional Investors (DIIs) sold Rs 80.83 crore worht of shares in the market on Tuesday, as per the NSE.

9. Brexit: Britain could ask the European Union for a long Brexit delay that gives the option to leave as soon as a divorce deal is approved by parliament, finance minister Philip Hammond indicated on Wednesday. European Commission President Jean-Claude Juncker said in Brussels that Britain would not get any further short delays unless its parliament ratified a deal by April 12 - the date set by EU leaders as the effective cut-off for avoiding the European Parliament elections. (Reuters)

10. Skymet monsoon prediction: Monsoon rains in India are expected to be below normal this year, the country's only private weather forecasting agency said on Wednesday, dampening prospects of higher farm and economic growth in the $2.6 trillion economy. (stock image)